New York City, Astronger than expected surge in sales lifted the International Council of Shopping Centers’ (ICSC’s) tally of industry-wide same-store sales for the month of October. Retailers generated a 4.4% growth in comps, led by teen-oriented chains.
According to the ICSC, the teen-market showed a 12.3% gain in October, compared to a 9.7% gain in September. Looking forward, the ICSC expects November comparable-store sales to increase by about 3.5% on a year-over-year basis.
Comparable-store sales rose 31.0% at Abercrombie & Fitch, 21.2% at Shoe Carnival, 12.8% at Deb Shops, 14.9% at Stage Stores, 17.3% at American Eagle, 16.2% at Joseph A. Bank and 17.9% at Chico’s FAS.
The Gap Inc. suffered another negative month, with comps declining 5.0% in October. Wal-Mart Stores posted a 4.3% increase, while rival Target Corp.’s comps increased 5.7%.