US retail : Despite adverse weather, February chain-store sales post gain of 2.7%

NEW YORK, March 6, 2014 – U.S. chain-store sales posted a gain of 2.7% for the fiscal month of February on a year-over-year basis, according to a tally of comparable-store sales compiled by the International Council of Shopping Centers (ICSC). The February sales pace was consistent with the prior three-month average run-rate of 2.9%.

[Editor’s note: this tally is preliminary and will be revised after Gap reports its monthly sales after the close of the stock market. The final tally will be available online at www.icsc.org/research after 4pm today].

“A number of retailers commented on the negative impact weather had on company sales this month, creating store closings and reduced operating hours for retailers and a decrease in spring category demand for consumers,” said Michael P. Niemira, ICSC’s chief economist, vice president and director of research.

“For March, the expectation is that sales will stay roughly in line with the current trend due in part to the later Easter holiday this year. Easter, a catalyst for spring family apparel demand, fell at the end of March last year providing a boost to the month. This year, Easter will fall three weeks later on April 20, shifting that demand out of March and into April. A later Easter is actually more favorable on a net basis for driving sales – largely because it is warmer – which is a reason to expect even stronger sales in April,” he said.

For March, ICSC research forecasts that monthly comparable-store sales will increase by about 3%.
ICSC Chain Store Sales Trends is a monthly report on the U.S. retail industry's sales performance based on an ICSC preliminary compilation of publicly-available sales for 10 chain stores during the month of February.  Industry sales aggregates are compiled for "comparable-store" or "same-store" sales and for total store sales. Those data are presented as an index.

Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 63,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials.  As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world. 

For more information, visit www.icsc.org. 

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