Dive Summary:
- Same-store retail sales rose 4.9% in April over last year’s figures, citing preliminary reports from the International Council of Shopping Centers trade group.
- The biggest beneficiaries were TJ Maxx and Marshall’s stores while CostCo posted gains 0.5% below some predictions.
- “April turned out to be decent despite adverse weather conditions,” said Michael P. Niemira, chief economist at the ICSC.
From the article:
Even though several retailers posted solid gains during April, the month’s results could have been better if it weren’t for Mother Nature. Exceptionally cool temperatures lingered in April, which was the coldest in five years, according to weather research firm Planalytics Inc.