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Same-Store Sales Rise 2.6% in July

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ICSC's figures show that chain stores reported a 2.6 percent increase in same-store sales in July (membership required). That's in line with what the association's researchers had predicted.

Value and convenience retailers tended to perform better in July than the industry as a whole. Discount stores sales rose 2.3% in July, wholesale clubs rose by 9.5% (or, 5.2% excluding fuel) and drug store business rose by 3.2%. However, other segments of the industry continued to struggle with apparel specialty sales off 5.5% and department store sales down 5.7%. Both teen retailers (-3.5%) and luxury department stores (-5.1%) posted declines in July.

Although July captured the early back-to-school shopping, the month was dominated by more

clearance sales of spring and summer merchandise at sharp discounts. Wal-Mart reported that its apparel business was slightly negative for the month, but was optimistic on its back-to-school and back-to-college offerings for August sales.

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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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