X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Retailers’ same-store sales last week increased 3.7% year-over-year, according to a weekly report by the International Council of Shopping Centers and investment bank UBS. The results, which were tallied for the week that ended on Oct. 9, were helped by early Columbus Day sales, the report says.

ICSC and UBS predict year-on-year same-store gains this month for a handful of retailers. Target’s will rise 6% and Federated Department Stores and J.C. Penney will climb 4%, it says. All three chains would beat their September performances if they meet those expectations.

Besides the Columbus Day sales, cooler-than-normal temperatures aided retailers in their results. That benefit pushed the ICSC-UBS Weekly U.S. Retail Chain Store Sales Index to its highest point since Sept. 11. Same-store sales rose 0.5% compared to the previous week.

Cooler weather should continue to help results improve during the month, the report says, though high gasoline prices could drag down same-store sales by as much as 0.5%. ICSC and UBS predict October’s same-store sales will increase somewhere between 3% and 4%.

September’s same-store sales were up 2.4% from the same period a year before, according to ICSC. Its monthly sales report blamed hurricanes Frances, Ivan and Jeanne, and a slow back-to-school season for the “soft” results. The results are a continuation of the weak year-over-year monthly sales results retailers have reported since June, the report said.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.