Retailers Post Weak January Sales

NEW YORK CITY-Retailers’ same-store sales inched up 0.5% year over year in January, making it the weakest January since this data was first compiled in 1969, according to the International Council of Shopping Centers’ monthly sales report. Stores were hurt a shortened calendar compared to the same period last year, less holiday gift-card redemptions and continuing challenges in the overall economy.

Retailers across sectors posted same-store sales losses during the month, with challenges not discriminating between discount or luxury chains. The only sector as a whole perform well were wholesale clubs, which rose 6.3% as a group, and were led by BJ’s Wholesale’s 7.8% gain.

All of the department stores in the report had negative results, and they collectively dropped 5.7%. On the discount end, Kohl’s slipped 8.3%, while luxury-focused Nordstrom fell 6.6%.