Jun
11

U.S. Chain Store Sales Jumped 3 Percent in May

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For May, U.S. chain store sales increased 3.0 percent on a year-over-year, same-store basis, according to ICSC’s index. “May came in better than expected,” said Michael P. Niemira, ICSC’s chief economist and director of research. “But, it is very clear that consumers are spending in a conservative manner as the lift largely came from an increase in sales in the wholesale, drug store and discount sectors,” said Niemira.

Wholesale club sales were up 4.6 percent for the month, excluding fuel sales. Drug stores were up 3.2 percent and discounters saw sales jump 3 percent in May. Apparel sales were weak during the month, with apparel specialty stores reporting an average 6.5 percent decline in same-store sales and department stores reporting an average 3.5 percent drop in sales.

“Looking forward to June, ICSC research expects a 2.5-3.0 percent increase which will be helped by fuller distribution of the federal stimulus money,” he added.

LINK TO ARTICLE HERE:
http://www.icsc.org/srch/apps/newsdsp.php?storyid=2426&region=N

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