Great American Group Analysts Observe Solid Back-to-School Sales
-Recent sales gains lead to optimism about holiday spending-
WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- After months of cautious spending, shoppers came out in full force for the back-to-school season, according to analysts with Great American Group, Inc. (OTCBB: GAMR). Many of the retailers tracked by Great American Group reported robust sales of apparel and footwear in August as consumers purchased new fashion items. While sales did slow in September, results were generally positive and in line with retailers' expectations.
Great American Group's latest Retail Monitor notes that even though the back-to-school season was a win for the retail sector in general, trends did vary by segment.
"With price and value at the forefront of the consumer psyche, it comes as no surprise that off-price, discount, and dollar-store retailers have reported some of the strongest results this year," said David Triompo, Great American Group's director of consumer products. However, Triompo said some retailers have been plagued by merchandising missteps and have had to increase discounting to sell off excess product.
"As can be seen by the recent demise of Fashion Bug and the bankruptcy filing of Baker Shoes, offering the right product mix is critical to achieving profitability in this very competitive market," he said.
The strong back-to-school season may bode well for holiday sales, but caution remains due to macroeconomic concerns such as high unemployment, volatile gas prices and rising food costs.
Although the economy remains fragile, industry analysts predict sales for the 2012 holiday season will increase 3 to 4 percent as consumers do appear willing to spend. In addition, an unseasonably warm winter last year hurt sales of cold weather apparel, equipment and footwear - a trend that retailers hope will not be repeated this year.
For more information about industry trends in the retail industry, download Great American Group's premier Retail Monitor - available on the company's website at http://www.greatamerican.com/news_media/downloads/Oct_Retail_Monitor.pdf
For more information about asset disposition, valuation and appraisal services available through Great American Group, visit the company's website at www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call (818) 884-3737 or visit www.greatamerican.com.
Great American Group
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Mulberry Marketing Communications
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