US: Retailers' November 2012 sales roundup
The following is a general roundup of US apparel and shoe retailers' November 2012 sales results.
At denim specialist The Buckle, comparable sales edged down 0.1%. The retailer, which operates 441 stores, saw net sales for the four-week period grow 1.9% to $96.7m, compared to $94.9m last year.
Teen clothing retailer The Wet Seal booked a 4.6% decline in net sales to $48.8m, despite online sales increasing 7.2%. November comparable store sales were "modestly ahead" of company expectations, falling 5.4% as it continues to progress with re-merchandising efforts. Comparable sales at Wet Seal and Arden B stores slipped 5.1% and 6.9% respectively. The retailer, which operates 556 stores, estimates that Superstorm Sandy impacted its comparable store sales for the month by 1%.
Limited Brands, which owns the Victoria's Secret lingerie chain, reported a 5% rise in comparable store sales in November. The company, which operates 2,632 specialty stores, posted a 5.7% increase in net sales to $922m, compared to $872.6m the prior year. Victoria's Secret Stores and La Senza saw comparable store sales growth of 4% and 5% respectively.
For specialty clothing retailer Gap Inc, comparable sales were up 3%, driven by gains at its international and North American brands. The San Francisco-based retailer, which operates around 3,000 stores, reported a 3.4% rise in net sales to $1.52bn against $1.47bn the prior year. The company said it is confident in its outlook for the holiday season.
Meanwhile, upscale department store operator Nordstrom posted a 1.1% decrease in same-store sales during the four weeks to 24 November. Retail sales climbed 1.8% to $926m, compared to $910m last year. The company, which operates 240 stores, said sales were weaker in the first half of the month because of a lower than planned half-yearly sale of women and children's merchandise. Sales were impacted by store closures in the Northeast and Mid-Atlantic regions due to Hurricane Sandy.
Kohl's booked a 5.6% decline in comparable store sales during the month. Total sales were lower than expected, slipping 4.9% to $1.84bn against $1.93bn last year. The retailer, which runs 1,146 stores, said it was "encouraged" by improved sales during Thanksgiving week. It added that there was a significant shift in Black Friday-related sales to its e-commerce channel, resulting in higher sales during the last week of November.
Department store group Macy's recorded a 0.6% decline in total net sales to $2.45bn during November, against $2.46bn during the same period last year. On a same-store basis, sales were down 0.7%. The retailer, which operates 840 stores, said it was not able to overcome the impact of Hurricane Sandy at the start of the month, despite the largest-volume Thanksgiving weekend in the company's history.
At Bon-Ton Stores, November sales slipped 0.8% to $301.3m, compared to $303.6m in the prior year. Comparable store sales edged down 0.1% during the four-week period. The company, which operates 273 department stores, said sales were hurt by the negative impact of Hurricane Sandy. It added that it was pleased with its Black Friday traffic as post-Thanksgiving results were ahead of last year, boosted by record online sales.
Over at Stage Stores, comparable store sales increased 13.2% in November, despite disruptions caused by Superstorm Sandy. Total sales jumped 16.4% to $141m from $121m the same period last year. The company, which runs 865 stores, said it was "encouraged" by the results and expect the positive momentum to continue in December.
For Ross Stores, sales rose 6% to $813m, compared to $765m the prior year, despite unseasonably warm weather during the first half of November. Comparable store sales grew 2% on top of a 5% increase the prior year, slightly ahead of the retailer's expectations. The company, which has 1,097 stores, said it was "pleased" with its results during the month.
Discount retailer Stein Mart saw comparable store sales increase 7.1%. Total sales were up 7.5% to $109.8m, compared to $102.1m last year. Growth was driven by sales of linens, men's furnishings and women's career sportswear, and sales increased in every state except New Jersey.
Off-price retailer The TJX Companies posted sales of $2.2bn in November, up 7% from $2bn the year before. Comparable store sales climbed 3% against a 4% gain last year on the back of increased consumer traffic. The company said business during Thanksgiving week and weekend was "robust" and "stayed out of the fray of Black Friday promotions".
At value-priced fashion retailer The Cato Corporation, sales climbed 2% to $64.9m, from $63.6m the same month last year. However, same-store sales were in line with the company's year-to-date trend, slipping 2%. The company said its inventory is "well positioned" going into the holiday selling season.
Target Corporation saw net sales decline 0.1% to $6.18bn in November, against $6.19bn the year before. On this same basis, comparable-store sales slipped 1%. The company, which operates 1,782 stores, said sales were below its expectations, reflecting weaker-than-planned sales in the first two weeks of the month.
Companies: Wet Seal, Victoria’s Secret, The Buckle, Limited Brands, Gap Inc, Nordstrom, Kohl’s, Macy’s, Bon-Ton Stores, Stage Stores, Ross Stores, Stein Mart, The TJX, The Cato Corporation, Target Corporation
Limited Brands (now operating under a new temporary name L Brands) has lifted its full-year earnings guidance after posting a 14.4% increase in first-quarter net profit....
Denim specialist The Buckle has today (23 May) posted a slight decline in first-quarter net profit, despite delivering higher sales than last year....
L Brands, the new, temporary name for Limited Brands, is to relocate its La Senza distribution centre operations from Montreal, Canada to its Columbus, Ohio base in the US to "better meet customer dem...
Teen clothing retailer The Wet Seal has lifted its first-quarter guidance because of better-than-expected sales and margins during the period....
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