June sales results proved that discount chains are the ones winning the battle during this
According to ICSC’s monthly same-store sales survey, luxury stores experienced a 10.9% year over year decline in June, while discounters rose 5.1%. Wal-Mart’s 6.4% gain compared with Nordstrom’s 18.6% decline tells the plainly tells the story.
These figures probably don’t shock anyone.
But the question is, how long will it take the middle-of-the-road chains and former darlings of the industry like Target (only up 0.4%) and JC Penney (down 2.4%) to adjust?