U.S. chain-store sales rose by 3.9 percent (excluding drug stores) for the fiscal month of September on a year-over-year basis according to the International Council of Shopping Centers (ICSC). Wholesale clubs (+6.0 percent) and apparel (+5.0 percent) led the way for the month, while drug stores (-8.6 percent) continued to drag down the aggregate (+0.9 percent including drug stores).
“September industry sales remained healthy–though were more subdued than in August or for the year-to-date trend–due to three factors: (1) a more difficult comparison with the September 2011 sales pace (+6.3%); (2) a more concentrated back-to-school shopping season in August 2012 than is typical of most years when it tends to run from mid-July to mid-September; and (3) a promotion that boosted August sales pace by an estimated 0.3% higher than trend,” said Michael P. Niemira, vice president of research and chief economist for ICSC.
For October, ICSC research anticipates that the sales pace will remain consistent with a to 3.5 4.5 percent increase (excluding drug stores).
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 22 chain stores during the month of September.
