Same store sales results among leading retailers are diverging, with several retailers posting gains in excess of 5% but with 3 of the 10 largest retailers posting declines. The bright spots are Target, The Home Depot, Costco, and Sam’s with Target in particular showing strong gains relative to 2010-2011 sales performance. At the other end of the spectrum, Walgreen, Sears, and Best Buy saw same store sales decline. It is concerning to see Best Buy and Sears, two of our largest retailers, struggle. Best Buy’s CEO resigned this week and Sears is selling stores and its Hometown and Outlet businesses to raise cash. Results have improved from 2010-11 when same store sales for the same reporting period showed slower growth or greater declines for 9 of the 11. The retail segment drives a tremendous amount of freight transportation and this data shows that demand for freight transportation has some upward momentum.
Source: www.retailerdaily.com, www.stores.org, Transplace analysis, excludes fuel sales.