Retail sales during the prime back-to-school shopping month of September grew more than the prior month but were still muffled by heavy head winds.
The gauge of same-store sales, which calculates sales at stores open for more than a year, rose “a modest” 4% compared to September 2012, according to Retail Metrics Inc.
But Ken Perkins, president of the research firm, had projected a 4.1% upswing. Without the strong performance of drugstores -- Walgreens’ sales soared 7.4% last month -- the retail sales measure increased 2.8%.
In a note to clients, he blamed the shortfall on warmer-than-expected temperatures, the threat and then reality of the government shutdown, a looming national default, meek consumer confidence, middling wage growth and an uninspiring fall fashion cycle.
Regional discount chain Steinmart was a solid performer, with a 5% surge in September.
But L Brands was weaker, falling short of expectations to grow sales by 1%.
“Like many other retailers across the mall, they were forced to be more promotional than they would have liked due to sluggish traffic levels and soft economic growth,” Perkins wrote.
