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Late Labor Day Boosts September Sales

NEW YORK CITY-Negative comps are moderating, according to the ICSC's Chain Store Sales Index.

By Debra Hazel | Updated on October 08, 2009

NEW YORK CITY-Is a retail bounce-back under way? September 2009 US comparable-store sales rose 0.1% from the same month of 2008, according to the International Council of Shopping Centers Chain Store Sales Index. This is the first year-over-year increase reported by the index since July 2008.

“Small as that gain was, it … marked a significant psychological turning point for the industry performance, as well as the start of the retail recovery,” wrote Michael P. Niemira, ICSC chief economist and director of research. “Overall, the sales environment in September turned out to be stronger than expected for the second consecutive month and marked a turning point in the retail sales cycle as the economy continues to shed its recessionary drag.”

A late Labor Day boosted back to school sales more than expected–ICSC had predicted a 25-basis point gain, but the real gain may have been three times that, Niemira said. The results show that consumer demand is returning to the hardest-hit channels, said Dave Marcotte, director of retail insights for Cambridge, MA-based consultancy MVI.

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