In The News

January Same-Store Sales Up 3.3%

By: Harry Sheff

February 04, 2010

January isn’t a very important month for retail, but this one was pretty good. Overall, analysts said that retailers saw a 3.3 percent increase in the first month of 2010.

As Retail Metrics’ Ken Perkins noted in a message to reporters, this was the fifth positive month in a row for retailers after a long and bitter series of drops. In all, about three quarters of retailers beat expectations.

“The modest pickup in retail spending is persisting despite challenges ranging from income constraints to bad weather,” said Retail Forward senior economist Frank Badillo. “The recovery should continue on an uneven path as shoppers slowly resume spending that was postponed or reduced during the recession as a precaution.”

Two surprises in the teen market: Abercrombie & Fitch made a comeback with same-store sales up 8 percent—its first positive numbers since April of 2008. And the usually buoyant Buckle was actually down this month—1.2 percent—worse than the 4.1 percent gain that Wall Street was expecting from them.

The battered luxury sector did fairly well in January with Neiman Marcus and Saks up around 7 percent each and Nordstrom up 14 percent.

Better Stores

Neiman Marcus: Same-store sales were up 6.8 percent. By division, Neiman Marcus stores and Bergdorf Goodman reported same-store sales up 4.5 percent. The Internet and catalogue division saw a 16 percent increase. Total sales were up 8.3 percent to $242 million.

Nordstrom: Same-store sales were up 14 percent. By division, Nordstrom stores were up 8.9 percent and off-price Nordstrom Rack stores were up 5.3 percent. Total sales were up 15.8 percent to $543 million.

Saks Inc.: Same-store sales rose 7 percent. Total sales were up 8 percent to $158.9 million. Men’s apparel and men’s shoes were among the strongest performers for January.

Department Stores:

Bon-Ton: Same-store sales were up 5.3 percent with total sales up 4.7 percent to $180.1 million.

Dillard’s Inc.: Same-store sales were down 5 percent. Total sales fell 6 percent to $353.9 million.

Macy’s Inc.: Same-store sales up 3.4 percent. Total sales were up 3.4 percent to $1.26 billion.

Mid-Tier and Mass:

Costco: Same-store sales rose 8 percent. Total sales up 10 percent to $5.62 billion.

Kohl’s: Same-store sales increased 6.5 percent. Total sales were up 10.7 percent to $798 million.

J.C. Penney: Same-store sales down 4.6 percent. Total sales fell 4.4 percent to $940 million.

Stage Stores: Same-store sales fell 2.2 percent. Total sales fell 1 percent to $255 million.

Target: Same-store sales rose 0.5 percent. Total sales rose 3.6 percent to $4.29 billion.

Wal-Mart: Wal-Mart is no longer reporting monthly sales results.

Off Price:

TJX Companies: Same-store sales were up 12 percent. Total sales were up 20 percent to $1.3 billion.

Stein Mart: Same-store sales were down 2.5 percent. Total sales dropped 4.9 percent to $63.8 million.

Ross Stores: Same-store sales were up 8 percent. Total sales were up 13 percent to $411 million.

Specialty and Catalog:

Gap Inc.: Same-store sales were up 5 percent. By division, same-store sales were up 10 percent Old Navy, up 2 percent at Gap, and up 4 percent at Banana Republic. Total sales were up 5 percent to $798 million.

Jos. A. Bank: No longer reporting monthly figures.

Men’s Wearhouse: Not reporting.

Teen Retailers:

Abercrombie & Fitch: Same-store sales rose 8 percent. Total sales were up 16 percent to $222.8 million. By division: Abercrombie & Fitch same-store sales were up 12 percent, Hollister was up 5 percent, and Abercrombie stores were up 10 percent.

Aéropostale: Same-store sales up 6 percent. Total sales were up 15 percent to $111.2 million.

American Eagle Outfitters: Same-store sales were up 10 percent. Total sales up 18 percent to $163.5 million.

The Buckle: Same-store sales were down 1.2 percent, a surprise for analysts who expected an increase of 4.1 percent. Total sales were up 4.4 percent to $50.2 million.

Hot Topic: Same-store sales dropped 13.1 percent. Total sales were down 11.2 percent to $39.8 million.

Pacific Sunwear: Stopped reporting monthly sales results as of February.

Zumiez: Same-store sales rose 1.8 percent. Total sales rose 9.2 percent to $22.1 million.

 

 

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