Retail Sector Performs Strong In August
BOSTON (CBS) – The Retail Metrics same store sales index for August was up 5.9%, for those that were reporting. That’s the biggest gain since June 2011.
WBZ NewsRadio 1030′s Anthony Silva reports
Ken Perkins at Retail Metrics tells me the tax-free weekend and heavy promotions lured in shoppers. He notes Nordstrom was up 21%. Perkins says part of that was attributable to their anniversary sale. Many clothing retailers were particularly strong in August, according to Retail Metrics. Gap was up 9%, their discount brand Old Navy was up 12%, and TJX, parent of TJ Maxx, was up 8%.
Perkins says the hottest items were basics, and denim. He says the transition to color denim is extremely popular among teens.