Friday, September 13, 2013
ICSC Says August Sales were Mixed, Zumiez Posts Big Gains
Hunter Communications Original News Source:
Link to article:
August Sales Mixed, Steeper Discounts on Horizon
Excerpt: "U.S. chain-store sales posted a 3.7 percent increase for August over the previous year, according to the International Council of Shopping Centers.
'August sales were softer in the apparel segment compared to July but were steady elsewhere,' said Michael P. Niemira, vice president of research and chief economist for ICSC. 'The Back-to-School apparel demand was uneven and late, and, overall, August BTS spending was stronger in the earlier part of the month compared to the end. As a result, September is likely to see steeper "end-of-season" discounts for BTS apparel to clear the remaining inventory.'
Going forward, ICSC is forecasting a 4 percent increase in sales in September.
Several retailers reported similar results..
Among those exceeding the average was Limited Brands, which operates 2,629 specialty stores under the Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel nameplates. The Columbus, Ohio–based company reported a 7 percent increase in net sales to $704.7 million and a 2 percent increase in same-store sales in August.
Zumiez Inc. also had a stellar August. The Lynwood, Wash.–based company reported a 14.3 percent increase in net sales in August to $85.9 million and a 3 percent increase in comp-store sales."