US: Retailers' June 2012 sales roundup
The following is a general roundup of US apparel and shoe retailers' June 2012 sales results.
Fashion retailer The Wet Seal recorded a decline in comparable-store sales as it maintained "sharp promotional levels" during the five weeks ended 30 June. Comparable-store sales declined 9%, and were down 8.5% in its Wet Seal stores, dropping 11.9% in its Arden B brand. Total sales fell 7.5% compared with the same period last year to US$53.6m. The company said its promotions were planned to ensure inventories are well-positioned into the third quarter.
Limited Brands, which owns the Victoria's Secret chain, reported a 7% rise in comparable store sales during June. Total sales were down slightly to $1.077bn from $1.08bn in the same period of the previous year. June 2011 sales included $80m in sales attributable to its Mast third-party sourcing business, which it sold in November 2011.
The Bon-Ton Stores described June sales as "uneven", with stronger demand around Father's Day promotions, followed by disappointing sales at the end of the month. Comparable store sales decreased 0.8%, while total sales declined 1% to $238.2m.
Department store operator Macy's admitted that June sales were below expectations, which it attributed to the stagnant macroeconomic environment, combined with lower tourist spending. Over the month, same-store sales were up 1.2%, while total sales increased 0.8% to $2.39bn. Online sales increased 31.8%.
Denim specialist The Buckle reported a 2.5% comparable sales decline over the five weeks ended 30 June. Net sales slipped 0.3% to $79.4m.
Off-price retailer TJX said it was "pleased" with its "strong trends continued in June" Comparable store sales increased 7% over the same period of the previous year, while overall sales were up 9% to $2.3bn. The company said its comparable store sales growth significantly exceeded expectations, while consumer traffic increased substantially in "every division".
Off-price retailer Ross Stores recorded "better than expected" June sales. Comparable store sales increased 7% over the month. Total sales increased 12% to $886m. The company attributed the gains to its ability to deliver "terrific brand name bargains" to "value-focused shoppers".
Value priced fashion retailer The Cato Corporation posted June sales that were below expectations. Same store sales declined 10% over the quarter, while consolidated sales were down 7% to $83.7m. The retailer said same-store sales this year have been volatile, driven in part by "various economic and political uncertainties as well as unseasonable weather". It expects this volatility to continue into the second half of the year.
Stein Mart attributed a slight decline in comparable store sales to weather distractions in Florida and many of its other markets. June comparable store sales were down 0.5%. Total sales increased 0.2% to $104.7m. The company said linens, women's career sportswear, and men's furnishings and accessories recorded the strongest sales over the month. Men's sportswear, ladies' casual sportswear and dresses were weaker.
General merchandise retailer Target said June sales were at the low-end of its expected range, as it recorded a 2.1% comparable store sales increase for the month. Total sales increased 2.6% to $6.4bn. It recorded a better-than-expected result in May, and expects these results will keep it on track to deliver on its quarterly forecast.
Department store operator Kohl's said June sales were lower than expected, but that it is "encouraged" by improved demand in the latter weeks of the month. Comparable store sales were down 4.2%, while total sales decreased 2.6% to $1.708bn. Men's and footwear were the strongest categories.
Sports wear retailer Zumiez recorded a jump in June comparable store sales, rising 8.2%, on top of a 9.8% increase in June last year. Net sales increased 18% to $51.3m over the month.
Upmarket department store operator Saks recorded a 6% increase in comparable-store and total sales to reach $258.6m. Over the month, the strongest categories included women's shoes, men's private brand, tailored clothing and shoes, as well as cosmetics and fragrances.
Department store chain Stage Stores said it was "pleased" with the 3.3% comparable store sales increase recorded in June. Sales increased 5.8% to $141m. While it said the growth was broad-based, cosmetics, footwear, home and gifts and men's categories exceeded the company average.
Nordstrom also reported a jump in same-store sales, rising 8.1% over the month. Retail sales increased 12.6% to $1.04bn.
And Gap Inc said it was "pleased" with its overall sales performance in June, particularly the "continued positive trend" in its North American division. The company recorded flat comparable sales for the month, while total sales increased 2.2% to $1.41bn.
Companies: Wet Seal, Limited Brands, Victoria’s Secret, The Bon-Ton Stores, Macy’s, The Buckle, TJX, Ross Stores, The Cato Corporation, Stein Mart, Kohl’s, Zumiez, Saks, Stage Stores, Nordstrom, Gap Inc
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