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Cold weather & high energy costs boost retail sales
03 Mar '06
2 min read
International Council of Shopping Centers released the survey result for retail sales of USA for February 2006.
Cold weather and high energy costs caused US chain store sales to rise just 3.2 percent year on year in February, according to ICSC's survey of 65 retailers. This was the softest they have been since July, when sales rose 3.6 percent.
Wholesale clubs led the way, with a gain of 6.2 percent for the month. Costco was the best performer here, with sales up 8 percent. Sam's Club posted solid sales too, up 4.6 percent. Drug chain stores also did well, posting an increase of 5.8 percent. CVS was the standout in this category, with a gain of 5.9 percent, followed by Walgreens, which rose 5.7 percent.
“February sales were largely in line with our expectations but clearly depressed by adverse weather,” said Michael P. Niemira, ICSC's chief economist and director of research. “Results varied vastly but continued to spotlight how robust consumer spending is.”
Niemira says he anticipates a same-store sales increase of 3 percent year on year for March.
ICAC is a trade organization for the international shopping center industry. It is promoting the role of shopping centers in the marketing of consumer goods and services.
Cold weather and high energy costs caused US chain store sales to rise just 3.2 percent year on year in February, according to ICSC's survey of 65 retailers. This was the softest they have been since July, when sales rose 3.6 percent.
Wholesale clubs led the way, with a gain of 6.2 percent for the month. Costco was the best performer here, with sales up 8 percent. Sam's Club posted solid sales too, up 4.6 percent. Drug chain stores also did well, posting an increase of 5.8 percent. CVS was the standout in this category, with a gain of 5.9 percent, followed by Walgreens, which rose 5.7 percent.
“February sales were largely in line with our expectations but clearly depressed by adverse weather,” said Michael P. Niemira, ICSC's chief economist and director of research. “Results varied vastly but continued to spotlight how robust consumer spending is.”
Niemira says he anticipates a same-store sales increase of 3 percent year on year for March.
ICAC is a trade organization for the international shopping center industry. It is promoting the role of shopping centers in the marketing of consumer goods and services.
International Council of Shopping Centers
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