January Sales up 4.8 Percent

January sales up 4.8 percent
U.S. same-store sales for January rose an encouraging 4.8 percent year on year, according to ICSC’s index. Apparel stores and wholesale clubs were particularly healthy, rising 10.9 percent and 8.3 percent, respectively. Limited Brands topped all retailers, with a 24 percent sales increase.

“Retailers weathered the storms in January, both literally and figuratively, besting ICSC’s initial forecast,” said Michael P. Niemira, ICSC’s chief economist and director of research. “This gain is encouraging, especially given the drag on sales created by the winter storms in the Northeast and Southeast, and suggests relatively healthy underlying consumer demand.”

Same-store sales for the 12 months ended in January rose 3.5 percent from the year-ago period, the most since 2006. ICSC anticipates a year-on-year sales increase for 2011 of between 3 and 3.5 percent. Sales for February, meanwhile, are expected to rise by 2.5 to 3 percent.

From Shopping Centers Today February 4, 2011