ICSC's figures showed a 4.3 percent jump in same-store sales in June (membership req'd to view report). The New York Times analyzed the results. Unfortunately, the news was received with some pessimism by investors.
“Investors don't care about retail,” said Bill Dreher, senior equity analyst with Deutsche Bank Securities. “They don't trust the numbers. They don't trust that 2008 is the recovery year. The question is now, when in 2009 will we see a recovery?”The quarter is not over and retailers are preparing themselves for the back-to-school season, the second-most important time of year after Christmas. But as John D. Morris, senior retail analyst at Wachovia, said, “I think the investors don't want to wait to get the report card.”
“It's kind of a low degree of confidence on the outlook,” he added.
Stores that fared the best in June did not necessarily offer the most au courant apparel. But they did offer the latest American retail trend: low prices.
Wal-Mart's same-store sales in the United States rose 5.8 percent in June, excluding fuel, with the strongest results in grocery, entertainment and health and wellness. Sales at the company's namesake stores rose 6.1 percent.