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October Retail Sales Up Highest Since April 08

By: Harry Sheff

November 05, 2009

NEW YORK—October retail sales increased just over 2 percent over last year, according to industry analysts—the second positive month in a row and the biggest same-store sales gain since April of 2008.

Notable winners last month include off-price retailers Ross Stores and TJX Companies, which reported same-store sales gains of 9 and 10 percent, respectively. Luxury retailers Saks (same-store sales up 0.7 percent) and Nordstrom (up 6.5 percent) showed modest signs of improvement. Even Gap Inc. was up in October, reporting big gains for Old Navy (14 percent) and healthy gains for Banana Republic (5 percent)—despite a poor showing from namesake Gap stores (down 6 percent).

Teen retailers, pockets of which had been reporting stronger numbers than other segments during the recession, had an off month.

“October again showed positive signs from shoppers, although the improvement was less even among retailers compared with the back-to-school months,” commented Retail Forward senior economist Frank Badillo in an e-mail to reporters. “Households remain focused on shopping for needs and this kind of cautious shopping behavior will restrain the sales improvement we can expect in the coming months.”

Ken Perkins of Retail Metrics pointed out that 57 percent of the retailers it tracks beat forecasts, and 40 percent missed them.

Better Stores

Neiman Marcus: Same-store sales fell 6.2 percent. Total sales were down 4 percent to $274 million.

Nordstrom: Same-store sales were 6.5 percent, beating Wall Street’s prediction of a 3 percent boost. Total sales were up 14.8 percent to $607 million.

Saks Inc.: Same-store sales rose 0.7 percent, beating analysts’ predictions of a 3.6 percent drop. Total sales were up 1.8 percent to $219.8 million.

Department Stores:

Bon-Ton: Same-store sales were up 3.1 percent with total sales up 2.5 percent to $224 million.

Dillard’s Inc.: Same-store sales were down 8 percent. Total sales fell 11 percent to $361.7 million.

Macy’s Inc.: Same-store sales down 2.3 percent, beating analysts’ predictions of a 3.6 percent drop. Total sales were down 1.3 percent to $1.692 billion.

Mid-Tier and Mass:

Costco: Same-store sales rose 5 percent. Total sales up 7 percent to $5.68 billion.

Kohl’s: Same-store sales increased 1.4 percent. Total sales were up 4.9 percent to $1.27 billion.

J.C. Penney: Same-store sales down 4.5 percent. Total sales fell 3.5 percent to $1.31 billion.

Stage Stores: Same-store sales fell 0.1 percent. Total sales fell 2.9 percent to $101 million.

Target: Same-store sales fell 0.1 percent. Total sales rose 2.8 percent to $4.54 billion.

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

Off Price:

TJX Companies: Same-store sales were up 10 percent. Total sales were up 15 percent to $1.7 billion.

Stein Mart: Same-store sales were down 4.9 percent. Total sales dropped 7.8 percent to $92.2 million.

Ross Stores: Same-store sales were up 9 percent. Total sales were up 14 percent to $557 million.

Specialty and Catalog:

American Apparel: Same-store sales fell 6 percent

Gap Inc.: Same-store sales were up 4 percent, beating Wall Street’s forecast of a 1.6 percent gain. By division, same-store sales shot up 14 percent at Old Navy and rose 5 percent at Banana Republic, but fell 6 percent at Gap stores. Total sales were up 5 percent to $1.14 billion.

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

Men’s Wearhouse: Not reporting.

Teen Retailers:

Abercrombie & Fitch: Same-store sales fell 15 percent. Total sales were down 5 percent to $203.4 million. By division: Abercrombie & Fitch same-store sales were down 8 percent, Hollister was down 21 percent, Abercrombie stores were down 17 percent and the soon-to-be-closed Ruehl stores dropped 23 percent.

Aéropostale: Same-store sales up 3 percent. Total sales were up 9 percent, to $138.8 million.

American Eagle Outfitters: Same-store sales were down 5 percent. Total sales fell 5 percent to $195.1 million.

The Buckle: Same-store sales were up 4.3 percent. Total sales were up 10.5 percent to $66.6 million.

Hot Topic: Same-store sales dropped 2.6 percent. Total sales were down 2.5 percent to $52 million.

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

Zumiez: Same-store sales fell 8.9 percent. Total sales rose 1.5 percent to $24.7 million.

 

 

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