New York, NY, December 2, 2005--Chain store sales rose 3.5 percent year on year for November, helped by retailer promotions kicking off the holiday season, according to Michael Niemira, ICSC's chief economist and director of research.
Niemira suggests, however, that retailers will be hoping sales pick up for the rest of the holiday season as well.
“Despite the fact that November sales were in line with our projection, the strength was largely driven by promotions and did not provide as strong of a start to the holiday season as some retailers would have liked,” said Niemira. “As a result, December retail sales are now that much more critical to the overall success for the holiday season and the industry.”
Footwear stores led the risers, with a 10.5 percent category increase. Shoe Carnival was the top performer here, up 12.8 percent, and Payless ShoeSource posted respectable sales too, up 9 percent.
Drugstores also did well, with a 7 percent rise across the category. CVS had a lot to do with that, gaining 7 percent all by itself.
Wholesale clubs climbed 6.1 percent overall, with Wal-Mart's Sam's Club up 7 percent and Costco gaining 6 percent.
Apparel stores rose 3.2 percent as a category, and the standouts there were Abercromie & Fitch, which rose 23 percent, and Ann Taylor, up 12.9 percent.
Department stores edged up 0.6 percent on the back of a Neiman Marcus gain of 4 percent and JCPenney's rise of 3.6 percent.
Niemira says he anticipates a same-store sales rise of 3.6 percent year on year for December.
