US: Retailers' January 2013 sales roundup
The following is a general roundup of US apparel and shoe retailers' January 2013 sales results.
Action sportswear and footwear retailer Zumiez has raised its fourth-quarter guidance after booking a 57.9% increase in net sales to US$50.3m for the five weeks to 2 February. This compares to $31.8m in the same period of the prior year. The company, which operates 500 stores across the US, Canada and Europe, said comparable store sales climbed 2.6%.
Denim specialist The Buckle saw net sales jump 30.7% to $78.8m from $60.3m last year. Comparable store sales, however, slipped 2% for the company, which operates 440 stores.
At teen clothing retailer The Wet Seal, total sales rose 23.3% to $40m. The company said overall sales were below expectations due to a comparable store sales decline at the Wet Seal chain, partially offset by improved performance at Arden B. Comparable store sales at Wet Seal and Arden B were down 13.4% and up 22.8% respectively, resulting in a total comparable store sales decline of 9.4%.
Limited Brands, owner of lingerie labels Victoria's Secret and La Senza, posted a 9% increase in same-store sales during January. Net sales rose 27.4% to $986.4m, compared to $774.5m the year before. The retailer operates 2,619 specialty stores in the US.
For specialty clothing retailer Gap Inc, comparable store sales grew 8% during the five-week period. Net sales reached $1.13bn, up from $833m in the same month last year. The San Francisco-based retailer, which operates around 3,000 stores, said it was "pleased" with the continued momentum of its North American brands.
Over at upscale department store operator Nordstrom, same-store sales increased 11.4%. Total retail sales jumped 38.4% to $951m in January, compared to $688m last year. The company, which operates 240 stores, said it plans to open two more Nordstrom Rack stores this autumn.
Kohl's posted a 13.3% increase in comparable store sales for the four weeks to 26 January. Total sales reached $1.13bn, up from $844m the prior year. The Wisconsin-based retailer, which has 1,146 stores, said it accomplished its goal of clearing seasonal merchandise.
Department store retailer Macy's has raised its fourth-quarter earnings guidance after what it described as "an outstanding month". The company booked a 34.6% jump in total sales to reach $1.80bn in January, compared to $1.34bn the prior year. On a same-store basis, sales rose 11.7%.
Meanwhile, Bon-Ton Stores saw comparable store sales edge down 0.4%. Total sales grew 15.2% to $200.8m from $174.4m the same month last year. The retailer, which operates 271 department stores, said it strategically managed its inventory to generate profitable sales and reduce the level of clearance inventory.
Department store retailer Stage Stores reported total sales of $100m, up from $85m a year ago. Comparable store sales increased 10.5%, with accessories, home, intimates, junior sportswear and misses sportswear posting gains that exceeded the company average. The group said it remains optimistic about the year ahead after its strong performance in January.
At Ross Stores, sales jumped 39% to $672m, compared to $483m the year before, while same-store sales were up 4%. The company said it was "extremely pleased" with its growth, which was ahead of expectations. It has also raised its fourth-quarter earnings per share to range from $1.06 to $1.07, up from previous guidance of $1.05 to $1.06.
Discount retailer Stein Mart recorded a 4.6% rise in comparable store sales in January. Sales increased 31.3% to $78.9m during the five weeks to 2 February, from $60.1m the prior year. The company, which operates 263 stores, said linens and men's furnishings posted the strongest sales for the month, while women's accessories, special sizes and casual sportswear were more challenged.
Off-price retailer The TJX Companies posted a 3% rise in comparable store sales, driven by a rise in customer traffic. Total sales surged 35.7% to $1.9bn from $1.4bn last year. The company has lifted its full-year earnings per share guidance to $2.53-$2.54, compared to earlier guidance of $2.44-2.47.
For value-priced fashion retailer The Cato Corp, sales increased 26% to $63.8m in January, compared with $50.5m last year. However, comparable store sales decreased 12%, primarily due to the timing of tax refunds and the effect of higher payroll taxes. The company, whose brands include Cato, Versona and It's Fashion, opened three stores and closed four during the month.
And Target Corp saw net retail sales increase 29.6% to $5.97bn from $4.61bn last year. January comparable store sales climbed 3.1%, which was in line with company expectations. The Minneapolis-based discounter said customers responded to clearance prices on holiday merchandise.
Companies: Wet Seal Inc, Nordstrom Inc, Zumiez Inc, Buckle Inc, Limited Brands, Victoria’s Secret, Gap Inc, Kohl’s Corporation, Macy’s Inc, Bon-Ton Stores Inc, Stage Stores Inc, Ross Stores Inc, Stein Mart, Cato Corporation, TJX Companies Inc, Target Corporation
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