U.S. enclosed malls posted a 3.7% year-over-year increase in sales productivity in February 2005, according to the International Council of Shopping Centers U.S. Mall Monthly Merchandise Index released today. This increase was the 24th consecutive month that mall sales productivity rose.
The strongest tenant group at malls in February continued to be furnishings, (home furniture and furnishings and home entertainment and electronics) as sales productivity increased by 9.6%. Productivity for apparel and accessories retailers, which accounts for nearly half of non-anchor mall space, also did well improving by 5.4%. Within the apparel and accessories group, children’s apparel was the most improved as sales per square foot increased by 7.3%. In addition, increases were seen in family apparel (5.5%), men’s apparel (3.4%), and women’s accessories and specialties (3%). Within the footwear segment, athletic and family shoe stores–the two largest footwear categories in terms of square footage–reported increases of 9.9% and 8.6% respectively.
The West led among the four Census Bureau regions in February, with a 6.8% increase in sales per square foot. The South and Northwest also reported gains of 5% and 2.5%, respectively. Sales productivity was nearly unchanged in the Midwest (0.1%)
The ICSC Monthly Mall Merchandise Index represents a proprietary database of non-anchor store sales and square footage information at 438 regional and superregional malls. The Index gives accurate, up-to-date information on sales per square foot, comparisons to the same month in the previous year, and year-to-date comparisons. National, regional, and divisional breakouts are available for 32 GAFO (General Merchandise, Apparel, Furniture and home furnishings, and Other merchandise related to these classifications) and non-GAFO merchandise categories.