US Chain Sales Rose 5.1% in January
Monday, 06 February 2006
Gift card redemptions extended the holiday shopping season into January, driving US chain store sales up 5.1 percent year on year for the month, according to the International Council of Shopping Centers’ survey of 65 retailers.
Specialty apparel stores were strong, with a 5.2 percent category increase.
Abercrombie & Fitch was the best performer here, up 33 percent. United Retail Group, operator of the Avenue plus-size women's apparel chain, posted solid sales too, up 15 percent.
The specialty apparel segment's results for the month were far better than its 1.9 percent monthly average rate for 2005. But luxury department stores, which averaged monthly growth of 6.2 percent in 2005, moderated in January to 5 percent.
“The industry finished up its fiscal year on a strong note,” said Michael P. Niemira, ICSC's chief economist and director of research.
For fiscal 2005, chain store sales grew by 3.9 percent, slightly better than the 3.8 percent growth of 2004, he said.
Niemira says he anticipates a same-store sales rise of 3 percent to 3.5 percent year on year for February.