Retail Sales Soar in July – Up 5.4% -Preliminary Tally-
NEW YORK, August 7, 2014 – U.S. chain-store sales posted a stronger than anticipated gain of 5.4% for the fiscal month of July on a year-over-year basis, according to a tally of comparable-store sales compiled by the International Council of Shopping Centers (ICSC). The strong gain this month comes on top of +4.2% gain in July of 2013.
[Editor’s note: this tally is preliminary and will be revised after GPS reports its monthly sales after the close of the stock market. The final tally will be available online at www.icsc.org/research after 4pm today].
“Sales posted an even stronger than expected pace this month; a very positive sign for retailers as we begin the back-to-school shopping season,” said Jesse Tron, spokesman for ICSC. “Actually, the July 2014 trend is probably even stronger than the reported number given how strong last year’s July was – which created a tough year-over-year comparison. Our back-to-school consumer survey indicated that consumers plan to complete the majority of their purchases in August (59%) so we fully expect the strong sales trend to continue next month,” he added.
For August, ICSC forecasts that monthly comparable-store sales will continue the current trend pace.
ICSC Chain Store Sales Trends is a monthly report on the U.S. retail industry's sales performance based on an ICSC preliminary compilation of publicly-available sales for 10 chain stores during the month of May. Industry sales aggregates are compiled for "comparable-store" or "same-store" sales and for total store sales. Those data are presented as an index.
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 66,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.