Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY–June retail sales were stronger than expected, as warm weather took hold and Federal stimulus checks made their way through the system – particularly at Wal-Mart, which posted a 6.4% gain over last year.

Retail chain comparable-store sales rose 4.3% year over year, according to the International Council of Shopping Centers Retail Chain Store Index. Wal-Mart’s unexpectedly strong showing (a 5.8% increase when Sam’s Club fuel sales are excluded) itself added 2.4 percentage points to the industry gain, ICSC said.

“The tally less Wal-Mart suggested narrow breadth to the June gain,” said Michael P. Niemira, ICSC vice president, chief economist and director of research. “But pockets of strength continued, especially in wholesale clubs.”

Value-oriented retailers such as discounters, wholesale clubs and dollar stores performed well, while apparel remains weak. Family Dollar reported an 8% comp increase and Target a 0.4% rise, while BJ’s Wholesale sales rose 16.5% and Costco 9%. Department stores however, continued on the downward trend. Dillard’s posted a 5% comp drop, JCPenney a 2.4% decline and Nordstrom an 18.6% decrease. Kohl’s showed a 2.3% increase and TJX Cos. a 5% rise.

Wal-Mart’s strongest sales were in grocery, health and wellness, and flat-panel televisions, as well as weather-driven increases in seasonal apparel.

“Wal-Mart continues to see benefit to its business from tax rebates, though the impacts are very uneven by retailer throughout the industry,” Niemira said.

With back-to-school and fall merchandise arriving later this month, ICSC predicts a July sales increase of 2 to 3%.

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?


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.