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ICSC: Same-Store Sales Down 1.6% in January

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ICSC just posted the January data.

The numbers are very similar to December. Without Wal-Mart, same-store sales for the 36 reporting chains would have been down 4.8 percent. In December, without Wal-Mart same-store sales for the 39 reporting chains would have been down 4.6 percent. Luxury stores were down 17.7 percent after a 17.4 percent decline in December. Apparel chains were down 14.0 percent after a 10.7 percent drop in December. More ominously, department stores were down 12.3 percent--almost double the 6.8 percent decrease those retailers reported in December. The only positives seem to be Wal-Mart--up 1.9 percent (same as December) and drugstores as a sector, which rose 0.6 percent. Everything else is negative.

The results are in-line with ICSC's previous prediction that the industry would experience same-store sales drops for the first six months of 2009.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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