US: Retailers' August 2012 sales roundup
The following is a general roundup of US apparel and shoe retailers' August 2012 sales results.
Department store operator Nordstrom has posted an increase in August sales, boosted by its Anniversary Sale event taking place one week later this year. The delay meant that eight days of the event occurred in August, compared to one day in 2011. Over the month, sales increased 25.2% to $866m, while same-store sales rose 21%.
Meanwhile, Kohl's August sales were boosted by an improvement in merchandise content, inventory levels and marketing strategies, the company said. Sales rose 5.3% to $1.5bn, as comparable sales increased 3.4%. All regions and lines of business reported higher sales, with footwear, men's and children's its best performing categories.
Macy's said sales exceeded expectations, highlighting its performance in back-to-school and an improvement in women's apparel. The company recorded a 5.7% increase in August sales to reach US$1.7bn, while sales rose 5.1% on a same-store basis.
Stein Mart posted a 6.9% sales increase, which it achieved despite not running a 12-hour sale that took place in August last year. Sales reached $79m, as comparable sales rose 5.6%. The company said that linens, ladies' career and casual sportswear and petites outperformed over the month, while dresses and men's underperformed.
Off-price retailer TJX posted a 10% climb in sales over the four weeks ended 25 August to $1.9bn. Comparable sales were up 8%. The company attributed the gains to customer traffic growth in North America and Europe.
Over at Ross Stores, August sales were ahead of expectations. Revenue increased 13% to $747m, as comparable stores rose 8%. The company said its ability to deliver a wide array of name brand bargins for back-to-school shoppers drove healthy traffic to its stores during the month.
At The Cato Corporation, which operates the Cato, Versona and It's Fashion brands, sales grew 2%. Same-store sales were flat. The value-priced fashion retailer now operates 1,298 stores, up from 1,285 last year.
Target, meanwhile, posted a 4.7% rise in August sales to reach $5.5bn. Comparable store sales increased 4.2%. The company said sales were stronger in the second half of the month, as consumers focused on back-to-school and back-to-college shopping.
Limited Brands, which owns the Victoria's Secret chain, said its comparable store sales increased 8%. Total sales were down 5.2% to $665.6m. However last year's results included $87.8m in sales attributable to its Mast sourcing business, which it sold in November 2011.
Speciality retailer Gap posted a 9% jump in comparable store sales during August, attributing the growth to strong back-to-school sales. Net sales increased 9.1% to US$1.20bn. North American comparable sales increased 9% at Gap, 8% at Banana Republic and 12% at Old Navy. International comparable sales slipped 2% after a 9% decline last year.
Bon-Ton Stores saw total sales edge up 2.1% to $180.8m, which the company attributed to its efforts to refine its merchandise assortment. Comparable sales increased 2.2%. Net gains were achieved in ladies' and special size sportswear, shoes, children's and home.
Total sales at regional department store operator Stage Stores rose 9.6% to US$124m. Comparable store sales increased 6.5% over the month. The company said it saw healthy back-to-school selling, strength in its missy and other women's categories and strong full-price sales.
Denim specialist The Buckle posted a 7.5% sales rise to $100.8m during August. Comparable store sales increased 4.5% over the month.
However, teen clothing retailer Wet Seal Inc saw sales slump, tumbling 15.9% to $48.8m. Comparable store sales declined 18.3%, with an 18.5% comparable store sales decline at Wet Seal stores, and a 16.3% decline at Arden B.
Companies: Cato Corporation, Nordstrom Inc, Kohl’s Corporation, Macy’s Inc, Stein Mart, TJX Companies Inc, Ross Stores Inc, Limited Brands, Victoria’s Secret, Gap Inc, Bon-Ton Stores Inc, Stage Stores Inc, Buckle Inc, Wet Seal Inc
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