Despite stronger performances from such as Macy's, Nordstrom, and Saks, retailers posted generally sleepy sales numbers for October.
Kantar Retail reports that same-store sales softened to 1.7%
in October—weaker than the 2.8% same-store sales gain last month, and even somewhat below the 2.3% advance last October. And the International Council of Shopping Centers, which tracks a
different group of stores, says its index registered a 1.6% comparable-store increase. One exception was in the swanky sector, with experts speculating that stronger financial markets may be
inspiring a few more trips to the mall. Sales at Neiman Marcus climbed 11.5%, while Saks' gained 8.1%. And at Nordstrom, sales rose 3.4%. Limited Brands, parent of Victoria's Secret, saw sales jump
9%. At Macy's, sales posted a 2.5% rise, ahead of expectations. "While we experienced some softness in sales early in October, we ended the month with a strong trend going into the holiday selling
season," it says in its release.
At Target, sales rose inched up 1.7%, at the low end of the company's predictions, "primarily due to softness in the first two weeks of the month," it says in
its release. "Guest traffic remains healthy, and sales of non-discretionary items continue to outpace other categories."