WASHINGTON (MNI) – The following is the text of the International
Council of Shopping Centers summary report on the June retail period
activity, published Thursday:
U.S. chain store sales posted a 3.0% year-over-year
comparable-store gain for June 2010 according to the International
Council of Shopping Centers, Inc. (ICSC). The best performing segments
overall were luxury (+8.8%) and department stores (+5.9%).
“The June performance was relatively uneven as lower prices and
discounting held back the reported pace of spending,” said Michael P.
Niemira, chief economist and director of research for ICSC. “Still, the
increase means that on a fiscal year-to-date basis total sales grew by
3.8%, marking its best performance since 2006,” Niemira added.
For July, ICSC expects that the pace of sales will continue to
increase within the 3-4% range on a year-over-year basis.
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 31 chain stores during the
month of June. Industry sales aggregates are compiled for
“comparable-store” or “same-store” sales and for total store sales.
Those data are presented as an index with a 1977=100 base.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$]