It was a small step to restore the economy, but a huge step toward improving the morale of the retailers.
Large retail chains together have built up the pace of growth of sales in September, according to a report published on Thursday. This was the first increase in annual terms in July 2008.
Data were significantly better than expected and created a rally on Wall Street, which sent the Dow Jones index up by 61 point, or 0.63 percent to 9,786.87.
American Eagle Outfitters shares immediately soared to 9 percent, while shares of Macy's was up by 5, and Nordstrom and Limited Brands was added to 4 percent.
For stores open at least a year, retailers said sales growth at 0.6% compared with September last year, according to Thomson Reuters. Analysts expect to see a decline of 1,0%.
The results anticipated the apparent stabilization of the economy and gave some networks of self-confidence to improve forecasts of earnings.
"Let the restoration begin retail!" - So said in its report the trade group International Council of Shopping Centers.
This can be a pervasive mood of the entire industry, which received a powerful blow in the last year, but the numbers suggest that retailers have not yet emerged from the woods.
Improvement in September sales was realized mainly due to the fact that the year has improved compared to the year. For the first time this year, trading networks compared their sales to the terrible performance, which began arriving last fall, when the markets experienced a collapse. Networks also benefited from the calendar amendments to Labor Day, as well as because of the traditional school of fever, later in September.
"We want to be careful in what you read in improving statistics", - said Michael McNamara (Michael McNamara), president of research and analysis company SpendingPulse, Information Adviser MasterCard Advisors.
In an interview with m-p. McNamara explained that, for example, in the jewelry sector, sales in September added 1.2% y / y. But in dollar terms, "it is still below 5% in comparison with what was in September 2007 and 10% less than in September 2006," he said.
Network ready before the crucial Christmas Closeouts, but the majority of consultants from industry and economists are predicting, at best, stable sales. With National Retail Federation predicts a decline of 1% in sales in November and December.
The general feeling among industry professionals that before the restoration of the labor market, buyers will continue to save every penny. In September, the unemployment rate at 9.8%, up from 9,7% in August.
September is considered the main months of the season, school sales, while youth's clothes is the worst on the dynamics of the category with several major retailers, again showed a weak data. Sales in those stores that were open at least a year ago, one of the ways to assess the health sector, fell in Abercrombie & Fitch (-18%), American Apparel (-15%), Wet Seal (-4,5%), Hot Topic (-4%) and Zumiez (-0.8%).
Sales at Gap fell percentage, although expensive Old Navy division recorded a 13% increase, the best figure in five years.
Similar sales in Limited Brands, which owned Victoria's Secret and Bath & Body Works, added one sale.
In general, the best teenage network handled the last few months, including Aéropostale (+19%) and Buckle (+5,1%).
Stores are still suffering. Sales fell in Dillard's (-6%), Stein Mart (-5,4%), Bon-Ton (-4,8%), J. C. Penney (-1,4%), and Macy's (-2,3%).
Nordstrom recorded a fall on 2,4%, although overall it was much better than the top-end Neiman Marcus and Saks, which showed double-digit figures fall.
As expected, discounters have shown better results in the industry. Sales to Costco added 4,0%, excluding fuel and the effect of currency fluctuations. At BJ's Wholesale Club sales rose 5.5%, and including gasoline. Target, the most expensive among the major national discounters, lost 1.7% of sales.
Dealers of high-end clothing at a discount is also survived. At TJX, which owns T. J. Maxx iMarshalls, sales rose 7 percent, from its competitor, Ross Stores, growth was 8%.
Michael Balmut (Michael Balmuth), president and CEO of Ross Stores has suggested that he may receive what every retailer is looking to Christmas: "On the important holiday season, we still adhere to the forecast growth in comparable sales by 5-6%", - said it in an interview.
The New York Times, October 8
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