NRSInsights Announces August Retail Same-Store Sales Report

Rhea-AI Summary

NRSInsights announced that August 2022 same-store sales increased by 6.4% compared to August 2021 but fell 3.3% from July 2022. Year-to-date same-store sales are up 8.4%, and for the three months ending August 31, 2022, they rose 9.2%. Although sales compared to the previous month declined, certain categories like school supplies showed growth. Inflation appears to be easing, with average prices for popular items increasing 2.3% compared to the 2.9% rise in July 2022. NRS operates over 19,000 terminals across the U.S.

Positive

• Same-store sales up 6.4% year-over-year in August 2022.
• Year-to-date same-store sales increased 8.4% compared to 2021.
• Three-month same-store sales growth of 9.2% compared to the same period last year.
• Categories like school supplies experienced increased sales.

Negative

• Same-store sales decreased 3.3% compared to July 2022.
• Sales volume for August decreased 0.8% compared to July 2022.

The NRS retail network comprises over 19,000 terminals nationwide processing purchases at bodegas and other independent retailers predominantly serving urban consumers

Consumer spending at NRS retailers in August increased 6.4% compared to August 2021 but decreased 3.3% compared to July 2022

NEWARK, N.J., Sept. 06, 2022 (GLOBE NEWSWIRE) -- NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) nationwide point-of-sale (POS) platform, today announced comparative same-store sales results for August 2022.

August 2022 Retail Same-Store Sales Highlights for August 2022

• Same-store sales increased 6.4% from a year earlier (August 2021) and decreased 3.3% compared to the preceding month (July 2022). Same-store sales in July had increased 9.2% compared to the year-ago month, July 2021, and increased 6.5% compared to the previous month, June 2022. (Note: sequential comparisons are impacted by seasonal factors).
• Year to date, same-store sales have increased 8.4% compared to the comparable period in 2021;
• For the three months ended August 31, 2022, same-store sales increased 9.2% compared to the three months ended August 31, 2021.
• The number of items sold during August 2022 increased 6.8% compared to August 2021 and decreased 0.8% compared to July 2022;
• The average number of transactions per store in August 2022 increased 3.9% compared to August 2021 and decreased 1.2% compared to July 2022;
• A dollar-weighted average of prices for the top 500 items purchased in August increased 2.3% year over year, less than the 2.9% year-over-year increase in July 2022.

“NRS same-store sales data for August continue to reflect strong year-over-year dollar increases, but at a less robust pace than we saw in July,” said Suzy Silliman, SVP, Data Strategy and Sales at NRS. “While spending in August decreased compared to July, we typically experience a modest sequential decline in August driven by seasonal factors. Categories bucking the trend with sequential gains in quantity, baskets, and dollars included school and office supplies and packaged lunch combos –categories driven by back-to-school seasonality. The August data also suggest that inflationary pressures have subsided somewhat. Costs of our most popular items increased 2.3% year over year compared to the 2.9% year over year increase we saw last month.”

The table below provides historical comparative data with the US Commerce Department’s Advance Monthly Retail Trade data excluding food service:

NRSInsights Reports

The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.

Over the prior 13 months, the NRS same-store retail sales data has exhibited a statistically significant correlation with the US Commerce Department’s Advance Monthly Retail Trade data excluding food services (r =.825, p = .00096).

The NRSInsights data have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the US Commerce Department’s retail data.

Same-store data comparisons of August 2022 with August 2021 are derived from approximately 117 million transactions processed through the 11,148 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of August 2022 data with July 2022 data are derived from approximately 169 million transactions processed through 16,574 stores.

NRS POS Network

NRS operates the largest POS network for independent retailers in the US, aggregating data from over 19,000 active POS terminals operating in over 17,000 independent retail stores. Its platform predominantly serves urban, small-format, independent, retail stores including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. The network includes retailers in all 50 states and in 188 of the 210 designated market areas (DMAs) in the US. Over the past twelve months, NRS’ POS terminals processed $11.9 billion in sales through approximately 865 million transactions.

About National Retail Solutions (NRS):

National Retail Solutions operates a point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers and bodega owners nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons and special offers to independent retailers. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

NRS Data Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com

IDT Corporation Contact:
Bill Ulrey
(973) 438-3034
william.ulrey@idt.net

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Attachment

• National Retail Solutions

FAQ

What were NRS's same-store sales results for August 2022?

NRS reported a 6.4% increase in same-store sales compared to August 2021, but a 3.3% decrease from July 2022.

How have NRS same-store sales performed year-to-date?

Year-to-date, NRS same-store sales have increased by 8.4% compared to the same period in 2021.

What trends were observed in NRS sales data for August 2022?

Sales data showed a decrease from July but highlighted growth in categories like school supplies.

What was the price increase for items sold by NRS in August 2022?

The average price for the top 500 items increased by 2.3% year-over-year in August 2022.

How does NRS's sales data correlate with other retail data?

NRS's data has a statistically significant correlation with the US Commerce Department’s retail data, with an r value of 0.825.