US: Retailers' October 2011 sales roundup
By Leonie Barrie | 3 November 2011
The following is a general roundup of US apparel and shoe retailers' October 2011 sales results.
Action sportswear and footwear retailer Zumiez Inc has posted an 11.1% rise in total sales for the four weeks to 29 October, climbing to $34.9m from $31.4m in the same period last year. Same-store sales were up 3.3% according to the company, which operates 432 stores.
Stage Stores Inc meanwhile saw its total sales edge up 1.9% to $102m, from $100m last year. Comparable store sales rose by 0.8%, with gains in its children's, footwear, juniors, petites, plus sizes and young men's merchandise categories. The company operates stores under the Bealls, Goody's, Palais Royal, Peebles, Stage and Steele's names.
At value-priced fashion retailer The Cato Corporation, which operates the Cato, Versona and It's Fashion divisions, sales fell 2% to $62.7m from $64.3m a year earlier. Same-store sales were also down, dropping by 3%.
Teen clothier Wet Seal Inc said its October sales were well below expectations at the Wet Seal and Arden B chains after it decided not to stock Halloween costumes and related merchandise this year. Its expanded sportswear assortment didn't make up the difference, it said. Net sales fell 5.5% to $40.5m. Same-store sales dropped 9.7%, with a decline of 9.9% at its Wet Seal stores and a fall of 8.6% at Arden B.
Specialty clothing retailer Gap Inc also booked a drop in October same-store sales, with a 6% decline due to a mixed performance across its brands. By division, same-store sales fell 5% at Gap North America, rose 1% at Banana Republic North America, and declined 9% at Old Navy North America. Its international sales dropped 7%. Net sales for the four-weeks to 29 October were down 4% to $1.14bn compared with $1.19bn in the same period last year.
Sales improved marginally at Stein Mart Inc, with total sales edging up 0.2% to $85.7m from $85.5m and comparable store sales up 0.1%. Linens, men's furnishings and accessories saw strong sales in the month, while boutique, career sportswear and gifts were weaker, the company said.
Limited Brands Inc, operator of the Victoria's Secret and La Senza chains, posted a rise of 5.7% in its net sales, which climbed to $652.4m for the four weeks to 29 October. Comparable store sales increased 6%.
Nordstrom Inc meanwhile, reported a 13.3% jump in total retail sales, up to $749m from $662m last time. Same-store sales rose 5.4%.
October same-store sales were ahead of expectations at off-price retailer Ross Stores Inc, which also saw total revenues increase 10% to $661m, up from $600m a year ago. Comparable store sales grew 5%. Juniors and shoes were the strongest merchandise categories.
Denim specialist The Buckle Inc saw its net sales rise 12.1% to $79.7m. Same-store sales at stores open at least one year were up 8.7%.
But department store operator The Bon-Ton Stores Inc was "disappointed" with its October sales results, which saw total revenues fall to $192m, down 10.4% on last year's $214.2m. Same-store sales dropped 10.2%. A poor response to its advertising, lacklustre sales of traditional merchandise in ladies' ready-to-wear, and consumer resistance to increased pricing were to blame, it said.
Saks Incorporated, which operates the Saks Fifth Avenue and Saks Off 5th stores, reported a 0.8% rise in sales to $235.7m from $233.9m last time. Comparable store sales edged up 1.8%. The strongest categories included women's contemporary sportswear and Wear Now (bridge) apparel, men's clothing and contemporary apparel, men's shoes, and handbags.
Revenues rose 6% at Dillard's Inc to $377.97m, up from $356.10m last year. Same-store sales increased 8% in the four weeks of October.
And growth continued at Macy's Inc, where total sales rose 2% to $1.84bn, compared with $1.81bn the year before. On a same-store basis, sales were up 2.2%. October growth was impacted by the shift of Macy's popular Shop For A Cause event from October last year into August this year.
At off-price retailer The TJX Companies Inc, sales for the four-week period climbed to $1.9bn, a rise of 4% over last year's $1.8bn. Same-store sales increased by 3% over last year, and came in at the high end of expectations despite unseasonably warm weather in some regions.
Department store operator Kohl's Corporation saw its October sales rose 5.6% to $1.33bn, from $1.26bn a year earlier. Comparable store sales were up 3.9%. The company, which operates 1,127 stores, said shoppers have "responded favourably" to its new Jennifer Lopez and Mark Anthony brands.
But total sales at JC Penney Company Inc were down in the month, dropping 6.6% to $1.19bn from $1.27bn, with same-store sales falling 2.6%. While sales overall were soft, women's apparel and accessories experienced sales gains in October, it said.
Target Corporation, meanwhile, said its net retail sales rose 4.3% to $4.84bn from $4.64bn a year ago, and comparable-store sales increased 3.3%.
Companies: Wet Seal, Cato, Saks, Zumiez, Stage Stores, Gap Inc, Stein Mart, Limited Brands, Victoria’s Secret, Nordstrom, Ross Stores, Macy’s, The Buckle, The Bon-Ton Stores, Dillard’s, The TJX, Kohl’s, JC Penney, Target Corporation
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