"Though we saw some sales softness throughout the month, retail sales performed surprisingly well and exceeded our expectations" says Michael Niemira, ICSC's chief economist and director of research, in a statement. "Though October's results should not be taken as a bellwether of how holiday sales will fare, they are at least a reassuring sign that sales will remain strong as we move closer to the traditional start of the holiday season."
Apparel was the strongest sector in the industry, with a 6.9% year-over-year gain. For the fourth consecutive month, American Eagle Outfitters posted a jump over 20%, hitting 29.2% in October. Another big-gainer was the Limited, reporting a 14% spurt and bouncing back from two months in a row of year-over-year monthly losses.
Wholesale clubs shot up 6.6%. Costco was the leader of that sector, with an 8% rise, followed by Sam's Club, up by 5%.
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