Monthly sales volumes from individual department, chain, discount, and apparel stores are usually reported on the first Thursday of each month. Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends. Why Investors Care
Highlights
Hurricane Katrina showed some of its impact in August, hurting many chain stores with operations in the affected states (including Florida, Louisiana, Mississippi, and Tennessee). Many chains said they have been unable to contact stores in these states.
Overall sales in August appeared no better than moderate, also a fitting description so far for the back-to-school season. Wal-Mart posted a same-store increase of 3.3%, once again below rival discounter Target that showed a 6.3% gain.
Department chain JC Penney posted a mild 2.8% increase in sales, while even high-end Nieman Marcus posted what for this chain is a moderate increase of 8.2%.
The same softness can be seen in leading teen wear retailer American Eagle Outfitters, which posted an 11.8% gain, well down from comparisons in prior months.
The results point to soft non-auto totals in the August retail sales report at mid-month. But more important will be the unfolding effects of Hurricane Katrina through the coming weeks.
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