Apparel chains were hit the hardest, posting a 10.1% decline as a group. Nearly all of the chains surveyed in the ICSC report had significant declines. For example, Cato Corp. fell 21%, Gap Inc. dropped 16% and Abercrombie & Fitch slid 15%. Limited Brands, a strong performer for the last several months, came out best, with only a 1% decline.
Discount chains, falling 4,6% as a group, also had across-the-board dives. Target, usually the strongest-performer in the sector, was down 6.1%, Wal-Mart fell 4.6% and Family Dollar plummeted 4.9%. TJX Cos. came out less scathed, with a 1% dip.
Department stores were more mixed but still fell 4.5% as a group. Big drops were reported by Dillards (14%) and Kohl's (10.5%). But luxury chains appeared to fare relatively well, with Nordstrom rising 3.1%.
Wholesale clubs seemed to feel less impact from the Easter shift and weather, as those chains were up 4.6%. Costco rose 7%, while Wal-Mart's Sam's Clubs rose 2.5%. However, BJ's Wholesale posted a 2.1% decline.
ICSC is hoping for a better performance this month, as its research team predicts a 2% to 2.5% increase year over year.
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