US: Retailers' August 2011 sales roundup
The following is a general roundup of US apparel and shoe chains' August 2011 sales results.
Action sportswear and footwear retailer Zumiez Inc has posted a 10.9% rise in total sales for the four weeks to 28 August, rising to $65.9m from $59.4m in the same period last year. Same-store sales were up 4.3% according to the company, which operates 425 stores.
Stage Stores Inc meanwhile saw its total sales slip 0.9% to $113m, down from $114m last year. Comparable store sales fell 1.7%, although the company noted gains in its children’s and junior’s merchandise categories.
Net sales at maternity apparel retailer Destination Maternity Corporation rose 4.7% in the month of August to $44.9m, compared with $42.9m in the same period a year ago. The company, which operates 2,349 retail locations, said its comparable store sales were down 5.7%. It said it was “encouraged by the improved sales trend” between July and August, “even with the negative impact from Hurricane Irene during the last few days of the month.”
Teen clothier Wet Seal Inc said its August sales were in line with expectations, posting a 10.3% rise to $58m after strength in its Wet Seal business offset a decline at Arden B. Same-store sales were 5.5% higher, with a gain of 7.3% at its Wet Seal stores and a drop of 8.7% at Arden B.
Denim specialist The Buckle Inc saw its net sales rise 11.9% to $95.3, up from $85.2 last August. Same-store sales at stores open at least one year were up 8.3%.
While at value-priced fashion retailer The Cato Corporation, sales fell 2% to $60.6m from $62.0m a year earlier, and same-store sales were down 3%. "August same-store sales continued to reflect the difficult economic situation facing many of our customers,” the company said, adding: “Hurricane Irene had minimal negative impact on sales for the month.”
Limited Brands Inc, operator of the Victoria's Secret and La Senza chains, posted a rise of 11.4% in its net sales, which climbed to $702.4m for the four weeks to 27 August from $630.3m last year. Comparable store sales increased 11%.
Specialty retailer Gap Inc has reported a 3% fall in net sales to $1.10bn from $1.13bn a year ago, and says it is working to improve its women's wear. August same-store sales were down 6%, with a fall of 8% at Gap North America, a decline of 4% at both Banana Republic North America and Old Navy North America, and a drop of 9% in its international unit.
Same-store sales also fell at Stein Mart Inc, slipping 7.5%. Total sales were down 8.7% to $73.9m from $80.9m a year earlier. Hurricane Irene disrupted stores from North Carolina to Massachusetts and coincided with the largest promotional event of the month, the company said. It added that ladies' dresses, casual sportswear and intimate apparel generated the strongest same-store sales, while ladies' special sizes posted weaker trends.
Nordstrom Inc meanwhile, reported a 12.4% jump in total retail sales, up to $691m from $615m last time. Same-store sales rose 6.7%.
August same-store sales were slightly ahead of expectations at off-price retailer Ross Stores Inc, which saw revenues increase 8% to $659m, up from $608m a year ago. Comparable store sales grew 4%. Dresses and shoes were the strongest merchandise categories.
But department store operator The Bon-Ton Stores Inc saw its total sales fall to $177.1m, down 5.4% on last year's $187.2m. Same-store sales dropped 4.7%. Better sportswear, intimate apparel and updated shoes were among the best performers, while back-to-school started off slowly with juniors, children’s and young men’s below last year's sales.
Revenues rose at Dillard's Inc with juniors' and children's apparel coming in above trend. Total sales were up 3% in August to $441.65m. Same-store sales increased 4%.
Growth continued at Macy's Inc, even with the closure of more than 100 stores because of Hurricane Irene. Total sales rose 4.9% to $1.72bn, up from $1.64bn last August, while same-store sales were up 5.0%. The retailer said it expects the hurricane’s effect on sales will be substantially offset as it moves through September and the third quarter.
Saks Incorporated, which operates the Saks Fifth Avenue and Saks Off 5th stores, reported a 5.5% jump in sales to $168.0m from $159.3m. Comparable store sales were up 6.1%, with management estimating that Hurricane Irene negatively dragged results down by around 150 basis points. The strongest categories included women’s shoes and men’s clothing and shoes.
Department store operator Kohl's Corporation saw its August sales fall 0.1% to $1.414bn, from $1.416bn a year earlier. Comparable store sales dropped 1.9%. The company, which operates 1,097 stores, blamed lower customer traffic.
Total sales at JC Penney Company Inc were also down, dropping 4.5% to $1.37bn from $1.44bn, with same-store sales falling 1.9%. Men's apparel and women's accessories were the top performing merchandise divisions, but the back-to-school selling season started later and sales were disrupted by the hurricane.
At off-price retailer The TJX Companies Inc, sales for the four-week period climbed to $1.72bn, a rise of 4% over last year's $1.65bn. Same-store sales increased by 1% over last year, and were in line with expectations.
And August sales were also on plan at Target Corporation, reflecting solid results in its back-to-school and back-to-college categories. Net retail sales rose 5.4% to $5.29bn from $5.02bn a year ago, and comparable-store sales increased 4.1%.
Companies: Wet Seal Inc, Zumiez Inc, Stage Stores Inc, Destination Maternity, Buckle Inc, Saks Incorporated, Cato Corporation, Limited Brands, Victoria’s Secret, Gap Inc, Stein Mart, Nordstrom Inc, Ross Stores Inc, Bon-Ton Stores Inc, Dillard’s Inc, Macy’s Inc, Kohl’s Corporation, JC Penney Company Inc, TJX Companies Inc, Target Corporation
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