Feb. Same-Store Sales Surge

NEW YORK CITY-Year-over-year same-stores sales jumped 4.9% last month, according to an International Council of Shopping Centers report based on the performance of 69 chains. The results were retailers’ best since last March, when they were up 7%.

Retailers performed relatively well in all sectors, with the exception of furniture stores, which saw sales drop by 8.4%. “There was a confluence of factors helping to lift February sales,” says Michael Niemira, ICSC’s chief economist and director of research, in a statement. “Although it seems that not one factor in particular was overwhelmingly dominant, it was clear that some improvement in the labor markets may have been one of the contributing reasons for the better-than-expected increase for the month.”

Footwear chains performed the best, with a 13.5% gain, bolstered by Payless ShoeSource’s 13.5% gain and Shoe Carnival’s 13.3% increase. That sector was followed by drug stores, at 9.3%, which were led by Walgreens’ 9.3% jump and CVS’ 9.2% boost.