Year-on-year, retailers also improved. From September 2003, companies posted a sales increase of 7.5%, the Department reported. The government says the highest performers were gas stations, reporting an increase of 15.1% from the year before, and home improvement retailers, whose sales shot up 14.4% from 2003. Total sales from July through August were 6.5% compared to a year ago.
The Department's report comes about a week after the International Council of Shopping Centers' survey on monthly same-store sales. In September, comparable sales rose 2.4%, ICSC says. During that period, wholesale clubs were the retail sector's leaders with a 6.6% year-on-year jump.
Meanwhile, Morgan Stanley released a favorable report on Kohl's department stores. The firm says Kohl's "is on its way back to achieving industry-leading comp performance."
The Menomonee Falls, WI-based retailer has introduced several new favorable product lines, the report says, adding "if Kohl's is able to convert the department store cosmetics consumer to its new lines, it could see increased loyalty in the future." In September, the company's same-store sales were down 1.3% year-over-year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
