US shoe store sales on course for record year in 2012
Data from the US Census Bureau shows that shoe store sales in the US have passed the $2.4 billion mark in both February and March 2012. The slightly higher February figure was a record.
The figure for March represents an increase of 7.9% on the same month in 2011. This is the second-fastest growth rate the industry in the US has seen in more than five years. In addition, the March sales performance marks the twenty-eighth straight month of year-over-year gains, the longest continuous period of expansion in more than two decades.
First-quarter sales growth was 7.4% compared to the first three months of 2011. At the current rate, annual shoe store sales are on track to see their fastest growth in more than two decades, rising to record levels in 2012.
President of trade body, the Footwear Distributors and Retailers of America (FDRA), Matt Priest, said at the time of the announcement of the March figures: “FDRA would like to congratulate our members and the entire footwear industry for an exceptionally productive month. Encouraging results such as these remind us how valuable the industry is to the overall economic recovery.”
The figure for March represents an increase of 7.9% on the same month in 2011. This is the second-fastest growth rate the industry in the US has seen in more than five years. In addition, the March sales performance marks the twenty-eighth straight month of year-over-year gains, the longest continuous period of expansion in more than two decades.
First-quarter sales growth was 7.4% compared to the first three months of 2011. At the current rate, annual shoe store sales are on track to see their fastest growth in more than two decades, rising to record levels in 2012.
President of trade body, the Footwear Distributors and Retailers of America (FDRA), Matt Priest, said at the time of the announcement of the March figures: “FDRA would like to congratulate our members and the entire footwear industry for an exceptionally productive month. Encouraging results such as these remind us how valuable the industry is to the overall economic recovery.”
