US: Retailers' May 2012 sales roundup
The following is a general roundup of US apparel and shoe retailers' May 2012 sales results.
Action sportswear and footwear retailer Zumiez Inc posted a 23.6% increase in sales during May to reach US$37.4m. Comparable store sales increased 13.7% over the four-week period. It operates 448 stores across the US.
Women's wear retailer The Wet Seal said sales were "in-line with our expectations" as it recorded a 7% sales decline in May to $41.3m. Consolidated comparable store sales declined 8.8%, with the Wet Seal banner recording an 8.7% drop, while Arden B reported a 9.3% comparable store sales drop.
Limited Brands, which owns the Victoria's Secret brand, said comparable sales increased 6% during May. Consolidated sales however were down to $671.9m from $717.4m in the same period of the prior year. The company said last year's revenues included a $68.9m contribution from its Mast third-party apparel sourcing business, which it sold in November 2011.
Value priced fashion retailer The Cato Corporation, which operates the Cato, Versona and It's Fashion brands said May sales were "good for much of the month", benefiting from an easier comparison to the prior year. Sales increased 4% to $84.3m during May. Same-store sales increased 3% over the period.
Stein Mart saw sales increase 3.4% during May to $101.9m, which the company said is its best performance in six years in a month without a significant promotional event or impact of a calendar shift. Comparable store sales increased 3.4% over the month. The company said that ladies' boutique, linens, ladies' casual sportswear and petites posted the strongest comparable sales, while ladies' career sportswear, ladies' plus size sportswear and men's sportswear posted weaker results.
Macy's said it saw the momentum in its business continue in May, coming on top of a "very strong month last year". Sales increased 4.1% to $1.93bn. Same-store sales increased 4.2% over the month. Online sales increased 43.3% in May. The company said it is seeing the ongoing benefit of strategies like My Macy's localisation, omnichannel integration and associate training.
The Bon-Ton Stores said it was "pleased" with its May sales growth, as it reported a 1.2% increase in total sales to $183.1m. Comparable store sales increased 1.5% over the month. It said that its aggressive pursuit of traditional product resulted in an improved performance in ladies' ready-to-wear, particularly moderate sportswear, as customers responded favorably to new receipts.
Target saw sales increase 5% to $5.04bn during May, which it said was at the "high end of our expected range". Comparable store sales increased 4.4% over the month.
The Gap said net sales increased 4% over the month to $1.1bn, which it attributed to the positive customer response to summer product over the month. Comparable sales were up 2% over the month. Gap North America reported 6% comparable sales growth, Banana Republic was up 8% and international rose 1%, while Old Navy North America posted a 1% decline over the month.
Denim specialist The Buckle posted a 2.7% increase in net sales to reach $69.9m as comparable store sales increased 0.2%. At the end of the month, it operated 434 retail stores across 43 states.
Nordstrom reported a 9.3% jump in May net sales to reach $870m. Same-store sales increased 5.3% over the month, the company said.
Off-price retailer The TJX Companies Inc said that it was "particularly pleased" to see all of its businesses across the US, Canada and Europe continue to post "such consistent, strong performance". May sales climbed to $1.9m, a 10% increase on the prior year period. Comparable store sales increased 8% over the month.
Department store chain Stage Stores posted its strongest increase for May in ten years, recording an 11% sales increase to reach $130m. Comparable store sales increased 8% over the month. Cosmetics, footwear, home & gifts, petites and young men's posted the strongest gains.
Upmarket department store chain Saks attributed a 3.7% sales increase to $215.8m to a strong performance in women's contemporary, Wear Now apparel, women's shoes, fashion and fine jewellery, cosmetics and fragrances, men's contemporary apparel, and men's shoes. Comparable store sales rose 4% over the month.
Meanwhile, department store operator Kohl's reported May sales that were "lower than expectations", and now expects second quarter comparable store sales to be modestly negative. Over the month, sales declined 2.6% to $1.33bn, while comparable sales fell 4.2% over the month. The company said it saw strength in accessories, while its men's and women's businesses outperformed the company average.
Off-price retailer Ross Stores Inc recorded "strong sales results" in May as sales jumped 13% to reach $746m. Comparable store sales for the month grew 8% on top of a 4% increase last year. The company's forecast for June and July remains unchanged at 3-4% and 2-3% respectively.
Companies: Wet Seal Inc, Cato Corporation, Macy’s Inc, Zumiez Inc, Limited Brands, Victoria’s Secret, Stein Mart, Bon-Ton Stores Inc, Gap Inc, Buckle Inc, Nordstrom Inc, TJX Companies Inc, Stage Stores Inc, Saks Incorporated, Kohl’s Corporation, Ross Stores Inc
The following is a general roundup of US apparel and shoe retailers' October 2012 sales results....
The following is a general roundup of US apparel and shoe retailers' September 2012 sales results....
The Wet Seal has swung to a third-quarter loss after legal costs, impairment charges and falling sales hurt the teen apparel retailer....
Value fashion retailer The Cato Corporation has updated its full-year earnings guidance after posting a 24% drop in third quarter profit....
Teen retailer The Wet Seal has appointed Lynda Davey as chairman following the resignation of Hal Kahn and three other directors. ...
Teen retailer The Wet Seal has settled its proxy battle with dissident shareholder Clinton Group as its chairman and three directors have stepped down from the board....
The chief merchandising officer of teen retailer The Wet Seal Harriet Sustarsic has resigned to join luxury jeanswear business True Religion....
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