Stores Show Solid Gains In July
Consumers didn’t just hit the beach in July, they hit the mall, too: Monthly retail sales came in stronger than many observers had forecast, with the Gap, Target,
Macy’s and Limited Brands all turning in solid numbers.
The International Council of Shopping Centers says its index rose 4.6% for the month, marking the strongest gain since March. “The pace of sales in July improved appreciably over last month,” says Michael P. Niemira, the trade group’s chief economist, in a release. “July is typically dominated by summer clearance so this stronger than expected performance is particularly encouraging, especially after the softer three-month run we have just been through in the industry and the overall economy.”
The Gap turned in one of the biggest surprises, with sales gaining an impressive 10%, including a 13% gain at the Gap, a 6% gain at Banana Republic and a 12% jump at its Old Navy division.
At Target, where same-store results rose 3.1%, the company credited the numbers to “our innovative merchandising, remodel program and 5% REDcard Rewards, driving healthy increases in traffic and sales in a consumer environment that remains quite challenging.” At Macy’s, same-store sales gained 4.1%. Limited Brands, parent of Victoria's Secret, says sales climbed 12%. Costco saw an 8% gain. And at Kohl’s, which has been struggling in recent months, sales managed a 1.7% gain.
Luxury chains, which have been strongest in recent months, were relatively weak, scoring a 1.3% rise in the ICSC index. “The promotional shift will bring those sales into August for the luxury segment,” it notes, and between that August gain in luxury and back-to-school spending, it is forecasting a heady 4 to 5% gain for August.
Recent Marketing Daily Articles
-
Fat Tire 'Pairs Well With People' May 24, 12:49 a.m.
New Belgium Brewing, the nation’s third-largest craft brewer, is launching a campaign including the company’s second-ever ... -
Mobile Important For Hispanic Shoppers May 23, 5:10 p.m.
Marketers looking to capture more of the growing Hispanic market in the U.S. would do well ... -
CoreBrand: Brand Favorability Low May 23, 4:33 p.m.
Brand consultancy CoreBrand says awareness isn't everything. Awareness is up across the board for the top ... -
Ford Launches European Campaign May 23, 1:36 p.m.
Ford of Europe is backing the 2013 UEFA Champions League Final football match and launching a ... -
Study: Social Media Driving CSR May 23, 11:32 a.m.
With tax evasion and third-world factory collapses dominating headlines, a new study on the role of ... -
Mondelez Goes Social, AR In Band-Tour Sponsorship May 23, 8:14 a.m.
In two firsts for the company, Mondelez International is using a fan as a social media ... -
Beer Category Grows Most In Brand Rankings May 23, 12:40 a.m.
Beer was the highest growth category in this year’s BrandZ rankings -- up 36% year-over-year, according ... -
Saks Soars; Target Misses May 22, 6:10 p.m.
It’s a buzzy week for retailers. While mass chains such as Target and Lowe’s say the ... -
Cricket Makes More From Less May 22, 4 p.m.
Prepaid wireless carrier Cricket Communications is taking direct aim at customers of the larger, post-paid companies ... -
Seattle's Best Promos New Drive-Thru Format May 22, 3:43 p.m.
Seattle’s Best Coffee has simultaneously opened 10 “drive-thrus” in the Dallas/Fort Worth area. This marks the ...
Be the first to comment on "Stores Show Solid Gains In July "
Leave a Comment