US: Retailers' October 2012 sales roundup
The following is a general roundup of US apparel and shoe retailers' October 2012 sales results.
Action sportswear and footwear retailer Zumiez booked a 20.2% increase in net sales to US$41.9m for the four weeks ended 29 October, compared to $34.9m last year. The company, which operates 495 stores across the US, Canada and Europe, said comparable store sales edged up 0.6%.
Denim specialist The Buckle saw comparable store sales rise 3.8%. The company, which operates 441 retail stores in the US, said net sales were up 5.7% to $84.2m, compared with $79.7m last year.
But at teen clothing retailer The Wet Seal, net sales slipped 5.1% to $38.5m. Comparable store sales were "in line with expectations", falling 7.6%. Comparable store sales at Wet Seal and Arden B were down 6.9% and 11.5% respectively. However, the company lifted its third-quarter loss per share to $0.13, which is at the high end of its guidance of between $0.13 and $0.16.
Limited Brands, which owns the Victoria's Secret lingerie chain, posted a 3% increase in October comparable store sales. The company revealed net sales of $611m during the four-week period, down against $652.4m the year before. October 2011 sales included $74.4m in sales relating to its Mast third-party apparel sourcing business, which was sold in November 2011.
For specialty clothing retailer Gap Inc, comparable sales were up 4% due to continued momentum at its North American brands. Net sales reached $1.22bn, a rise of 6% compared to $1.14bn a year ago. The San Francisco-based retailer, which operates around 3,000 stores, said it remains focused on offering great products to sustain its business performance.
Meanwhile, upscale department store operator Nordstrom booked a 9.8% jump in same-store sales during the four-week period ended 27 October. Total retail sales jumped 11.5% to $835m, compared to $749m last year. The company, which owns 238 stores across the US, opened three Nordstrom Rack stores during the month.
Kohl's saw total sales grow 4.6% to $1.39bn in October, against $1.33bn the prior year. Comparable store sales were up 3.3% during the four weeks. The company operates 1,146 stores across 49 states.
Department store group Macy's reported a 3.6% rise in total sales to $1.91bn during October, compared to $1.84bn in 2011. On a same-store basis, sales were up 4.1%. The company, which operates 840 stores, has lifted its second-half sales outlook despite the interruption caused by Hurricane Sandy. Macy's expects same-store sales to increase 4%, compared to earlier guidance of 3.7%.
At Bon-Ton Stores, comparable store sales increased 3.7%, while total sales also rose 3.7% to $199.1m, compared to $192m last year. The company, which operates 273 stores, said it was "pleased" with the growth, which was primarily due to "strong" double-digit gains in women's and men's outerwear, dresses and shoes.
Over at department store retailer Stage Stores, total sales increased 9.8% to $113m during the four weeks ended 27 October, compared to $102m the year before. Comparable store sales were up 6.5%. The company, which operates 851 stores, described the month as "strong" and said it is "well positioned" for the holiday season.
For Ross Stores, comparable store sales rose 4% during the month. Sales jumped 8% to $715m, compared to $661m the same period last year. The company said it remains "well positioned as a value retailer in the current environment" and now expects third-quarter earnings per share to range from $0.71 to $0.72. This compares to earlier guidance of $0.70 to $0.71 due to higher merchandise margins.
Discount retailer Stein Mart recorded a 1.7% increase in comparable store sales during October. Total sales also climbed 1.7% to $87.2m, compared to $85.7m the year before. The company said women's boutique and career sportswear as well as men's posted the strongest gains, while women's casual sportswear, dresses and accessories were "more challenging".
Off-price retailer The TJX Companies posted 11% sales growth to $2.1bn during the four-week period ended 27 October, compared to $1.9bn the prior year. The company said it was "extremely pleased" with the 7% increase in comparable store sales, driven by higher customer traffic.
Value-priced fashion retailer The Cato Corp saw sales rise 3% to $64.3m, compared to $62.7m the prior year. Same-store sales were flat against last year. The company, which operates the Cato, Versona and It's Fashion divisions, opened five stores, relocated one and closed another in October.
And Target Corporation recorded net sales of $4.98bn, up 3% from $4.84bn last year. On this same basis, October comparable-store sales increased 2.4%. The company, which operates 1,781 stores, said "we feel good about our holiday season merchandising and marketing plans".
Companies: Wet Seal, Nordstrom, Macy’s, Zumiez, The Buckle, Limited Brands, Victoria’s Secret, Gap Inc, Kohl’s, Bon-Ton Stores, Stage Stores, Ross Stores, Stein Mart, Cato, The TJX, Target Corporation
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