By Faith Hope Consolo,
chairman, The Retail Group,
Prudential Douglas Elliman
The Holidays are here! Particularly this year, when many of our friends, colleagues and neighbors continue to recover from the October hurricane, we should take a moment to be thankful for all we have and celebrate what’s really important, even as we prepare for the season ahead.
Nationally, October U.S. comparable chain store sales (excluding drug stores) rose five percent over the previous year, according to the International Council of Shopping Centers.
Though the bulk of the month boasted unusually warm temperatures, which slowed apparel sales, other sectors did extremely well.
As usual, luxury stores led the way, with a 9.8 percent increase, with wholesale club sales rising seven percent (five percent when fuel is excluded). Department stores followed with a 4.9 percent increase.
Locally, of course, sales results in some areas will continue to be affected by Superstorm Sandy.
Expect home improvement, discount and department stores to see substantial pickup in sales as shoppers get their insurance checks to rebuild and replace lost items including appliances, linens and apparel.
What most analysts realize, however, is that as dreadful as the destruction was (and please support Sandy relief efforts however you can), this is a comparatively small subsector of the New York market, and national market.
With the elections now settled, and the parties resolved to work together at least to some degree on economic concerns, I expect a quite good holiday season, with sales increasing four percent to five percent over last year.
There is still time to register for the International Council of Shopping Centers’ Women’s Special Industry Group program, to be held in conjunction with the association’s New York National Conference, December 3 and 4 at the New York Hilton and Sheraton New York Hotel and Towers.
In my role as Women’s SIG chairman, I will moderate “Food as Fashion: Redefining Dining,” a panel featuring leaders from major restaurant chains, to be held Monday, December 3 from 4:00 p.m. to 5:30 p.m. at the Mercury Ballroom at the Hilton.
Joining me will be: Doug Griebel, Founder and Chairman of Rosa Mexicano Group; Randy Garutti, CEO of Shake Shack Inc., and more to be announced.
Attendance is included in your conference registration, so please visit http://www.icsc.orgfor more information and to register.
The members and friends of NYcrew are looking forward to our grand year-end celebration, to be held on the most memorable date this year — December 12, from 6:30 p.m. to 8:30 p.m. at the Columbus Club, 8 East 69th Street.
We’re looking forward to launching NYcrew’s 12th year, with our annual awards ceremony, cocktails, hors d’oeuvres and the company of some of the most successful women and men in the business.
To register, visit https://www.registrationfactory.com
Home improvement, discount and department stores set for uptick
By Faith Hope Consolo,