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Luxury stores July sales grow 4.7% by ICSC
08 Aug '05
2 min read
International Council of Shopping Centers (ICSC) reported July chain store sales up 3.6 percent.
Lower summer-clearance inventories, strong motor vehicle demand and warmer weather caused a moderation in retail sales for July.
Chain store sales for the month rose 3.6 percent year on year, according to an ICSC survey of 71 chain stores. That is below June's 5.2 percent but about even with the 3.8 percent year-to-date.
The best performers were wholesale clubs and drugstores, with gains of 5 percent and 4.6 percent, respectively. Luxury stores also posted strong results, rising 4.7 percent.
Discount stores were up 4 percent, apparel stores came in at 2.4 percent and department stores rose 0.6 percent. Furniture stores and footwear stores declined 8.1 percent and 2 percent, respectively.
“The July chain store sales performance was softer than we expected, but continued to be in line with the fiscal year-to-date trend,” said Michael Niemira, ICSC's chief economist and director of research. “More importantly, taken together with the promotional-led surge in vehicle demand in July, consumer spending continued to be strong. For August, ICSC expects same-store sales to increase by 4 percent, on a year-over-year basis.”
Founded in 1957, The International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 54,000 members in the US, Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.
Lower summer-clearance inventories, strong motor vehicle demand and warmer weather caused a moderation in retail sales for July.
Chain store sales for the month rose 3.6 percent year on year, according to an ICSC survey of 71 chain stores. That is below June's 5.2 percent but about even with the 3.8 percent year-to-date.
The best performers were wholesale clubs and drugstores, with gains of 5 percent and 4.6 percent, respectively. Luxury stores also posted strong results, rising 4.7 percent.
Discount stores were up 4 percent, apparel stores came in at 2.4 percent and department stores rose 0.6 percent. Furniture stores and footwear stores declined 8.1 percent and 2 percent, respectively.
“The July chain store sales performance was softer than we expected, but continued to be in line with the fiscal year-to-date trend,” said Michael Niemira, ICSC's chief economist and director of research. “More importantly, taken together with the promotional-led surge in vehicle demand in July, consumer spending continued to be strong. For August, ICSC expects same-store sales to increase by 4 percent, on a year-over-year basis.”
Founded in 1957, The International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 54,000 members in the US, Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.
International Council of Shopping Centers
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