NRSInsights’ June 2023 Retail Same-Store Sales Report
National Retail Solutions
Same-store sales at NRS retailers during June increased 7.7% compared to June 2022
NEWARK, N.J., July 06, 2023 (GLOBE NEWSWIRE) -- NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative same-store sales results for June 2023.
As of June 30, 2023, the NRS retail network comprised approximately 25,200 terminals scanning purchases at independent retailers including bodegas, convenience stores, liquor stores, grocers, and tobacco and sundries sellers nationwide, predominantly serving urban consumers.
Retail Same-Store Sales Highlights
Same-store sales increased 7.7% from a year earlier (June 2022). Average sales per calendar day for June increased 1.5% compared to the preceding month (May 2023).
Same-store sales in the preceding month (May 2023) had increased 7.1% compared to the year-ago month (May 2022). Average sales per calendar day in May increased 1.0% compared to the preceding month (April 2023).
For the three months ended June 30, 2023, same-store sales increased 6.2% compared to the three months ended June 30, 2022;
The number of items sold during June 2023 increased 7.3% compared to June 2022 and the number of items sold per calendar day increased 1.0% compared to May 2023.
The average number of transactions per store in June 2023 increased 4.3% compared to June 2022 and the average number of transactions per store increased 1.4% compared to May 2023
A dollar-weighted average of prices for the top 500 items purchased in June 2023 increased 2.9% year-over-year, a slight decrease from the 3.2% year-over-year increase recorded in May 2023.
Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)
“Same-store sales by NRS retailers again increased robustly during June, rising 7.7% year-over-year, driven by both increased traffic and average ring per basket.
“Category growth leaders included prepared cocktails (both spirits and wine-based), tequila, smokeless tobacco, packaged cookies, energy drinks and sports drinks, as well as salty snack and candy categories.
“Our neighborhood retailers’ three-month rolling, year-over-year same-store sales increase of 6.2% continues to exceed the U.S. Commerce Department’s comparable retail same-store metric, likely because our sales overweight food, household essentials and other necessities compared to the broader retail marketplace.”
Retail Trade Comparative Data
The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade data excluding food service:
Over the past six months, the NRS average three-month moving average same-store sales has outpaced the US Commerce Department’s Advance Monthly Retail Trade data excluding food services by 4.9 percentage points, on average.
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 U.S. Commerce Department’s retail data.
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.
Same-store data comparisons of June 2023 with June 2022 are derived from approximately 148 million transactions processed through the 14,284 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of June 2023 with May 2023 are derived from approximately 204 million transactions processed through 20,883 stores.
Same-store data comparisons for the three months ended June 30, 2023 with the year-ago three months are derived from approximately 416 million scanned transactions processed through the NRS network in both quarters.
NRS POS Network
The NRS network comprises approximately 25,200 active POS terminals operating in approximately 21,900 independent retail stores. Its platform predominantly serves 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 194 of the 210 designated market areas (DMAs) in the U.S. Over the past twelve months, NRS’ POS terminals have processed $16.4 billion in sales through approximately 1.17 billion 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 nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively. Consumer packaged goods (CPG) suppliers, brokers, analytics firms and advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify profitable growth opportunities and measure execution and returns on current marketing investments. 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.
NRSInsights Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com
IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net
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