Retail Search Group

For many retailers August is the launch pad for their fall season. The comparable store sales coming out of August were solid. In fashion, Limited Brands led the charge with a whopping 10% comparable store increase after a 12% July increase!

The Wall Street Journal responded, "Retailers were delivered a late-summer surprise, with sales for the key back-to-school shopping month coming in better than expected." Reuters surveyed Wall Street analysts and expected a 2.5% rise in comparable stores. The results were a rise of 3.3% over 2009 sales. According to Market Watch, retail stocks responded immediately, with many continuing their recent gains.

Specialty apparel had several bright spots, with Chico's FAS reporting a 6.4% increase on top of a 14.9% increase the prior quarter. The Department store sector performed strongly again, with Nordstrom's 6.5% comparable store increase leading the group. With few exceptions, apparel is beginning to show consistent positive growth.

Attention to assortments has lifted both Cost Plus and Pier 1 as leaders in their segment, with Cost Plus releasing +6.5% comparable stores for the quarter ending 8/19.

A straightforward consolidated summary is below. As an early indicator for the fall 2010 season these results are encouraging. The numbers tell us that the consumer is definitely looking for new assortments and solid value.

Unemployment
According to the Labor Department, total U.S. private-sector employment grew by 67,000 positions in August, the eighth consecutive month of job growth.

Total U.S. employment fell by 54,000 positions after factoring in government jobs, including 114,000 temporary census workers who were let go. The unemployment rate rose from 9.5 to 9.6 percent, driven mostly by an increase in people who completed temporary work-including census workers-and new entrants.

Recruiting
If a candidate search is in your plans for the fall 2010 season call one of our Directors now. Have a dialogue about timing and the nature of the candidate you want to attract. Why? The reason is simple. Locating and attracting the best candidate takes time. Poor performers rarely become top performers. And, a top performer delivers goals. Your competition sees what is happening and they are moving ahead. Year-to-date through August 2010 our placements are up over 80%. Based upon retail sales trends the industry will be highly competitive for top "impact" players as we approach 2011.

Click here for August National Retail Sales Results