WASHINGTON (MNI) – The following is the commentary from the ICSC
July chain-store sales snapshot released Thursday:
U.S. chain-store sales rose by 4.6% (less drug stores) for the
month of July on a year-over-year basis according to the International
Council of Shopping Centers (ICSC). The performance was the strongest
monthly gain since March, 2012 (+6.8%, less drug stores).
“The pace of sales in July improved appreciably over last month,”
said Michael P. Niemira, vice president of research and chief economist
for ICSC. “July is typically dominated by summer clearance so this
stronger than expected performance is particularly encouraging,
especially after the softer three-month run we have just been through in
the industry and the overall economy.”
The improvement was somewhat uneven as a shifting promotion pulled
down the luxury sector performance (+1.3%), which had been the leading
category in recent months. However, the promotional shift will bring
those sales into August for the luxury segment. Helped by the luxury
promotional shift and increased Back-to-School activity, ICSC research
expects sales to increase by a strong 4.0 – 5.0% (less drug stores) for
the month of August.
ICSC Chain Store Sales Trends is a monthly report on the U.S.
retail industry’s sales performance based on an ICSC preliminary
compilation of publicly-available sales for 20 chain stores during the
month of July. Industry sales aggregates are compiled for
“comparable-store” or “same-store” sales and for total store sales.
Those data are presented as an index. Comparable-store sales are also
compiled for specialized-industry groupings, which include aggregates
for apparel chain stores, department stores, discount stores, drug
stores, footwear stores and wholesale clubs.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
