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CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
Retailers reported stronger than expected same store sales numbers for August, a key back-to-school shopping month.
U.S. chain store sales posted a 3.2% year-over-year comp stores gain in August, slightly above expectations, the International Council of Shopping Centers said. For September, the ICSC predicts sales to rise 3%.
Here’s a roundup of how some industry customers and competitors performed in August. Zumiez reported same store sales Wednesday.
Macy’s: up 4.3%
Nordstrom: up 6.3%
Buckle: down 3.5%
Wet Seal: total comps up 1.1%, Wet Seal chain up 1.5%, Arden B., down 1.8%.
Aeropostale: down 1%
Gap: total flat, Gap chain down 1%, Banana Republic up 6%, Old Navy down 2%, International up 5%
Abercrombie & Fitch: total comps up 6%, Hollister up 7%
American Eagle Outfitters: up 1%