Retailers see mixed bag in July sales |
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Written by Christine D. Johnson |
Monday, 06 August 2012 10:51 AM America/New_York |
Stores like Target and Macy’s did well last month, but as a group, teen retailers performed poorly. July sales winners included Costco, Gap and American Eagle Outfitters. While July is generally clearance-driven as stores make room for fall merchandise, it launches the back-to-school buying season, which is second in volume only to the Christmas season. A survey of the International Council of Shopping Centers found that households plan to spend about $300 each this year for back-to-school merchandise, on average, up 42% from last year. Some 44% of respondents said they would spend the same as last year, and 14% indicated that they would spend less. “Despite the relatively soft economic conditions over
the last quarter, consumers view back-to-school merchandise as essential, which
is likely a key reason that so many consumers plan to increase spending this
year,” said Michael P. Niemira, ICSC’s chief economist and director of
research. “Even more encouraging for retailers is that nearly 20% of respondents
plan to increase spending by more than 10% compared to the 2011 season.” |