September retail sales not as strong as hoped for
Despite the significant increases in retail sales over the past few months, September saw strong, but not exceptional, growth for retailers across the country. This could be due to the fact that consumers bought more for the back-to-school season, and are taking a break before the holiday shopping rush.
According to Retailing Today, several retailers posted solid gains for the month, including Gap Inc. and Limited Brands. Both corporations experienced better-than-expected results. However, large retailers such as Macy's and Kohl's were not able to meet expectations, as their sales totals fell short of analysts' predictions. Despite this, September was still a strong month for retail sales, and the recent growth points to a successful holiday shopping season, stated several industry professionals.
"This should set up to be a good holiday season," said Ken Perkins, president of Retail Metrics LLC, in an Associated Press report. "Consumers needed to take a breather once the back-to-school season is over."
The Associated Press reports that for September, retail sales increased by 3.9 percent from the previous month, according to research by the International Council of Shopping Centers. While this doesn't meet the 6 percent rise that was seen in August, retailers are expecting stronger sales leading into the holiday season.
