GROWTH
July Sales Forecast to Range from Solid to Tepid
International Council of Shopping Centers forecast a 5 percent to 6 percent increase in July sales compared with the same time in the previous year.
Early reports for the month’s business have been tepid. Zumiez Inc., a Lynnwood, Wash.–headquartered action-sports retailer, reported its July performance on Aug. 7. It posted a same-store-sales increase of 0.8 percent for the month and a net sales increase of 19.3 percent to $56.1 million, compared with $47.0 million for the same time in the previous year. The majority of retailers who report monthly sales will post news of their July sales performances on Aug. 8.
Retail Metrics, a Boston-area market-research company, forecast July sales would increase 4.1 percent. However, Retail Metrics President Ken Perkins said in an Aug. 7 retail note that forecasts overall have not been robust. Gap Inc., which registered a 7 percent increase in June, was forecast to report a 1.6 percent same-store-sales increase in July. The Buckle, which posted a 3.4 percent same-store-sales increase in June, was forecast to report an increase of 2.6 percent, according to Retail Metrics.
The market-research company also noted that July business was influenced by the clashing phenomenon of softening consumer traffic at malls along with hot weather in the beginning of the month, which compelled shoppers to buy summer clearance clothes.
