May Comp Sales Up 2.9%

NEW YORK CITY-May’s same-store sales rose 2.9% year-over-year, despite tough comparisons to the same period last year, according to an International Council of Shopping Centers report, which tracked the results of 67 retailers’ performance last month. Luxury and teen apparel led all segments, the report says.

Luxury department store sales rose 7.1% last month, with Neiman Marcus, up 11%, and Nordstrom, jumping by 7.4%, leading the way. Retail analyst Katherine Galligan with Aperion Group reported that those retailers “have excellent spring merchandise and we observed an encouraging level of foot traffic during each of our weekly walk-throughs in local stores.”

Overall department store sales inched up by 1.3%, just below the 1.6% average monthly increase for the fiscal year. Of those chains, May Department Stores, falling by 2.9%, and Saks Inc., posting a 1.2% drop, fared the worst.