June 2011 National Retail Sales Results
Consumer behavior during June turned the corner. A report released Thursday by Bloomberg said that consumer confidence reached its highest level in 10 weeks, thanks to falling gas prices and despite a 9.1% unemployment rate. June sales for nationwide retailers show consistent growth in consumer spending.
Winning Retail PerformancesThe fashion winners include Limited Brands with a 12.0% comparable store increase, followed closely by Buckle, Zumiez and Abercrombie with 10.8%, 9.8% and 10.0% comp store increases, respectively. Footwear is hot, hot, and hot. Foot Locker turned-in a 12.8% increase followed closely by DSW at 10.8% for their first quarter.
Department stores continue to speak to their customers. Macys delivered a solid 6.7% comp increase on $2.39B in sales, followed by Nordstrom at 7.9% and Neiman-Marcus at 12.5%. Kohl's led their segment with a 7.5% comp increase on $1.7B in sales, one of their best showings this year.
Costco continued their march with a 14.0% comparable store increase following their 13.0% increase in May. And, the home area is coming to life. Ethan Allen posted a 13.4% increase. Pier 1 and Cost Plus continued good numbers during their first quarter, with 10.2% and 5.5% comp store increases, respectively.
Yahoo Finance released that, two years after the end of the Great Recession, the auto industry is hiring again -- and much faster than the rest of the economy. Expect blockbuster reports out of new car sales. All the auto parts retailers are reporting June growth in the 5 - 6% range.
The Retail MarketplaceAnalysts polled by Thompson-Reuters expected a 4.9% rise in June same-store sales. As the numbers are coming-in it's clear that retailers are beating those estimates.
The Candidate MarketAccording to 24 Seven's Fifth Annual Salary Survey, conducted in collaboration with the American Apparel & Footwear Association, 68% of respondents plan to make a career move in the next year, with nearly half already looking for a new job. Reported by Katherine Field Boccaccio of NY.
Many executive and management candidates have been doing two jobs for some time. As downsizing occurred during 2008-2009 bonuses and pay increases were deferred. Expect these candidates to be among the first to consider changing companies in the next 12 months. Having open and honest discussions about compensation will be a powerful retention tool during 2011. Once a candidate begins interviewing with outside companies their decision to leave is largely done.
In an updated study Darrell Smith, a job front editor for the Sacramento Bee, reaffirmed that the unemployment rate for College educated candidates remains at 4.5%. This compares to high-school educated who have an overall 9.5% unemployment rate. As an employer this means your target talent is employed. Want them? You'll have to attract them away from your competitor.
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