Aug
08

ICSC: Retail Sales Soar in July – Up 5.4%

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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.

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