Retailers Posting Results that Beat Expectations

NNN Lease Market News

 85 % of Retailers Posting Results that Beat Expectations

 Monthly retail sales at stores open at least a year rose 7.2 per cent from last June, with 85 per cent of retailers posting results that beat expectations, according to Retail Metrics.

The figures heightened optimism over the crucial back-to-school shopping season and signalled a narrowing of the performance gap between retail leaders in the discount and luxury sectors and their mid-market laggards.

 

 

Continuing a trend of recent months, the luxury sector also posted strong growth with sales up 11.9 per cent at Saks, the upmarket department store, and 12.5 per cent higher at Neiman Marcus, one of its main rivals.

In the mid-market segment – which has been hit hardest by consumers’ cash woes – Gap posted a 1 per cent gain in sales that defied forecasts of another monthly decline as it struggles to revitalise its business.
Revenue at its Banana Republic chain, which offered heavy discounts last month, rose 3 per cent.
Among mid-market department stores sales rose 6.7 per cent at Macy’s, 2 per cent at JC Penney and 6 per cent at Dillards.
Limited, which runs the Victoria's Secret chain, posted a 12 per cent rise in same-store sales.

http://www.ft.com/intl/cms