Retailers may have had a generally weak June, but one early report indicates that back-to-school season could be strong. ShopperTrak, which analyzes foot traffic to retail destinations, released a report today predicting that August retail sales will rise 4% from a year ago. The company also predicted that foot traffic would increase after four years of declines.
“ShopperTrak reports year-over-year foot traffic percentages have been trending positively since Presidents Day. The people counting company expects the trend to continue through August. Falling gas prices in recent weeks may encourage customers to make more car trips and visit more stores than they did last year. Lower prices at the pump may also translate into additional disposable income that parents can spend on their children.”
If the prediction holds up, it would be good news for retailers like Abercrombie & Fitch (ANF), Gap (GPS), American Eagle Outfitters (AEO), Urban Outfitters (URBN) and The Buckle (BKE).
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