New York — Solid back-to-school sales of CE boosted chain store sell-through by 3.8 percent last week.
According to The International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index, chain-store sales were up 3.8 percent year over year for the week ending Aug. 16, but slipped 1.3 percent from the prior seven-day period.
“Business was very strong over the past week for back-to-school categories — especially electronics and apparel,” noted ICSC research consultant Michael Niemira.
He said business was also strong for department, drug, discount, wholesale and furniture stores, leading him to forecast “a healthy gain” of 4 percent to 5 percent in total August sales.
Back-to-school sales are expected to hit their peak this week, according to The NPD Group, with CE growth projected to outpace all other categories this season, the National Retail Federation reported.