X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Clearance sales of summer merchandise dominated July chain store sales, which rose 2.6% over the previous year, according to the International Council of Shopping Centers Chain Store Sales Trends index. Last month, the association predicted a 2% to 3% increase.

Value-oriented and convenience retailers performed best, with discount stores posting a 2.3% increase and wholesale clubs a 5.2% gain (excluding fuel). Wal-Mart posted a 3.7% increase, while Costco’s sales rose 10%. Drugstore sales rose 3.2%.

However, apparel sales remain weak, dropping 5.5%. Department stores saw a 5.7% decline (though Dillard’s posted a 2% increase), while teen-oriented chains dropped 3.5% and luxury department stores declined 3.5%. Early back-to-school sales boosted results at Bon-Ton (up 0.7%), but the rest of the season should continue current trends.

“Consumers will be very price conscious during this back-to-school season and will likely shop more at discounters than in recent years,” said ICSC chief economist Michael Niemira. “Demand for back-to-school and fall merchandise will kick in more dramatically during August. However, waning tax rebate influences may only partially offset the slight positive impact on discretionary spending from lower gasoline expenditures (should the lower prices remain).”

ICSC expects a sales increase of 2% for August.

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?

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.