Retailers’ Sales Rise Most in 4 Years, Overcoming Job Concerns

By Adam Lyons in : News // Jul 7 2010

Retailers may have bucked last month’s drop in consumer confidence that threatens to temper the rebound. The year-to- date growth in sales shows that spending, a key driver of the U.S. economy, is faring better than many investors are betting, said Michael Niemira, the New York-based ICSC’s chief economist.

U.S. retailers’ sales are growing at the fastest pace in four years, a sign consumers may be overcoming concern about unemployment and depressed home values.

Sales probably expanded at an average monthly rate of 4 percent in the first five months of the retail fiscal year that began Jan. 31, the biggest gain since 2006, the International Council of Shopping Centers trade group said in advance of its June report tomorrow. Nordstrom Inc. and Kohl’s Corp. are among chains that will report June sales increases at stores open at least a year, according to analysts’ estimates.

Full story: Retailers’ Sales Rise Most in 4 Years, Overcoming Job Concerns – Bloomberg

Related posts:

1. Pottery Barn same-store sales jump 23.3% in 1Q
2. Lower Rents, Landlord Concessions and Tenant Improvements Triggering Expansions
3. Phoenix foreclosure filings at lowest levels in almost 2 years
4. Developers Diversified Rooftop Solar Program Named Best-of-the-Best by ICSC
5. Commercial Retail Real Estate in a Stronger Position in 2010