New York City, September chain-store sales posted a moderate 4.0% increase compared with the same month of the prior year, according to the International Council of Shopping Centers (ICSC) monthly sales. That growth is higher than the average monthly percentage change year-to-date, which is 3.8%.
“Although the September sales performance was relatively consistent with its year-to-date trend, consumers continue to worry about high fuel expenditures reducing non-fuel spending,” said Michael Niemira, ICSC’s chief economist and director of research. The ICSC expects year-over-year comps to increase by about 3.0% next month. Membership clubs posted strong statistics, led by Costco’s 11.0% comp-store gain. Other sectors that performed well in September include luxury stores and teen-apparel retailers.