August Chain Store Retail Sales Rise 6%

by Christopher Freeburn | September 5, 2012 1:07 pm

Back-to-school shopping accelerated U.S. retail sales last month, according to data released today[1] by the International Council of Shopping Centers (ICSC).

The ICSC index of chain store sales rose 6% last month, compared to the same time last year. The index also increased 4.6% over July’s reading, MediaPost noted.

Looking forward, the ICSC forecasts a lower sales pace in September, as the school shopping season dwindles. This month’s retail sales should increase between 3% and 4% over last year, the group predicts.

A number of retailers reported rising sales last month.

Discount retailer Kohl’s (NYSE:KSS[2]) saw its sales improve¬†3.4% in August, compared to last year, while Macy’s (NYSE:M[3]) said its same-store sales rose 5.1% last month. Target (NYSE:TGT[4]) also noted a 4.2% increase in same-store sales in August.

Higher end retailer Nordstroms (NYSE:JWN[5]) posted a 21% sales gain for the month, in part because of an re-scheduled annual sale. Big-box retail chain Costco (NASDAQ:COST[6]) said its sales were up 6% in August, compared to last year.

Clothing retailer Gap (NYSE:GPS[7]) reported same-stores sales up an impressive 9% over last year during August.

Endnotes:
  1. according to data released today: http://www.mediapost.com/publications/article/182044/stores-report-bustling-back-to-school-sales.html
  2. KSS: http://studio-5.financialcontent.com/investplace/quote?Symbol=KSS
  3. M: http://studio-5.financialcontent.com/investplace/quote?Symbol=M
  4. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  5. JWN: http://studio-5.financialcontent.com/investplace/quote?Symbol=JWN
  6. COST: http://studio-5.financialcontent.com/investplace/quote?Symbol=COST
  7. GPS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GPS

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