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Luxury Retailers Post Double-Digit February Increases March 07, 2011 (0 comments)
New York, NY--Chain-store sales in the United States posted a 4.2% year-over-year increase for February, according to the International Council of Shopping Centers. Luxury, especially, saw double-digit increases at Nordstrom (12%), Neiman Marcus (13%) and Saks (14%). All reported strong fine jewelry sales for the month.
The double-digit increases at luxury stores contrast with more modest gains at midlevel retailers. Macy’s posted a 5.9% increase, Target, 2.4%, and JC Penney, 2.7%. Among wholesale clubs, the more upscale Costco posted a 14% increase, while BJ’s grew 9.3% year-over-year.