June Sales Surge for US Retailers

12 July 2002

A raft of new figures point to a healthy rise in June’s retail sales in the US.

The Salomon Smith Barney index of stores open at least a year rose 4.8% last month, outpacing May’s 2.8% and the 2.4% in June 2001. Similarly, the Bank of Tokyo-Mitsubishi same-store sales barometer jumped 5.1% for the month – higher than the 2.8% climb a year earlier.

Leading the sales surge were discount retailers. Wal-Mart enjoyed a 7.9% surge in same-store sales, while budget rivals Kohl’s and Target posted respective rises of 14.8% and 6.1%.

There was less joy in the department store sector. The Goldman Sachs index of department stores open at least a year stayed flat last month, though this is better than the 2.7% drop reported in June 2001.

Finally, it was another tricky month for apparel giant Gap, where same-store sales tumbled 6%. There was, however, some positive news: overall sales rose 2%, the first increase in almost a year.

Data sourced from: multiple sources; additional content by WARC staff