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Chain store August sales up 3.6%
02 Sep '05
1 min read
Soaring gasoline prices and warmer than usual weather did not keep shoppers away from stores in August. The month's chain store sales rose 3.6 percent year on year, according to an ICSC survey of 71 retailers.
Wholesale clubs and luxury stores led the way, with sales increases of 7.8 percent and 7.3 percent, respectively. Footwear stores rose 4.1 percent, discount stores climbed 3 percent, department stores were up 2 percent and apparel chain stores rose 1.2 percent. Furniture stores, however, declined 12.4 percent.
“August's sales performance was softer than the forecast 4 percent due to soaring gasoline prices and the eleventh-warmest August on record, according to SDI/WeatherTrends,” said Michael Niemira, ICSC's chief economist and director of research. “The monthly sales gain, on the surface, seemed to be more consistent with July results, but in reality, the performance reflected some softness.”
For September Niemira says he anticipates a same-store sales increase of 3 percent to 3.5 percent year on year.
Wholesale clubs and luxury stores led the way, with sales increases of 7.8 percent and 7.3 percent, respectively. Footwear stores rose 4.1 percent, discount stores climbed 3 percent, department stores were up 2 percent and apparel chain stores rose 1.2 percent. Furniture stores, however, declined 12.4 percent.
“August's sales performance was softer than the forecast 4 percent due to soaring gasoline prices and the eleventh-warmest August on record, according to SDI/WeatherTrends,” said Michael Niemira, ICSC's chief economist and director of research. “The monthly sales gain, on the surface, seemed to be more consistent with July results, but in reality, the performance reflected some softness.”
For September Niemira says he anticipates a same-store sales increase of 3 percent to 3.5 percent year on year.
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