ForecastIQ: Value will dominate in October
HTT Staff -- Home & Textiles Today, 9/7/2011 2:12:39 PM
Worthington, Ohio - Even though the latest consumer confidence fell off sharply, 90-day spending plans remain somewhat upbeat, according to research firm ForecastIQ. That outlook, it noted, "could be attributed to a need to spend more, rather than a want."
Of the 23 retailers tracked by ForecastIQ, eight are projected to almost certainly see an increase in same store sales in October compared to last year, while seven are likely to experience an increase. On the other hand, comparable sales are likely to decline for six retailers and almost certainly for one.
Every month, ForecastIQ takes into consideration consumer purchase plans when assigning retailers an overall score of their likelihood to experience growth/decline in same store sales compared to the previous year.
A mixed bag of retailers including warehouse clubs, apparel stores, luxury, teenage-goods retailers and department stores are predicted to grow compared to 2010.
"Value is on the mind of many with BJ's, Costco, Ross and TJX Stores almost certain to see an increase while Fred's is likely," ForecastIQ said.
"The outlook for luxury retailers is positive as well. Neiman Marcus and Nordstrom's sales are almost certain to increase and Saks is likely. Buckle and Wet Seal are forecasted almost certain growth. Dillard's and JCPenney [and Fred's] are forecasted likely growth in same store sales."
ForecastIQ projects declines for The Bon-Ton Stores and are Gap brands, and Banana Republic and Old Navy compared to October of last year.
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