US: Retailers' September 2011 sales roundup
The following is a general roundup of US apparel and shoe chains' September 2011 sales results.
Target recorded US$5.9bn in sales for the five weeks ended 1 October, a 6.5% increase on the same period of the previous year. Comparable-store sales were up 5.3% The company said the same-store sales were "somewhat ahead of expectations", which it attributed to strong results across a "broad array of merchandise categories".
TJX said today that it saw "strong" September sales, up 6% to $2.2bn. Comparable store sales increased 4% over the period. Company CEO Carol Meyrowitz said the results were "ahead of our expectations", and that it continues to see customer traffic increases.
Ross Stores also said September sales were "ahead of our expectations" as the value clothing retailer reported a 9% rise in revenues to reach $726m. Comparable store sales increased 5% against the same period last year.
Macy's continued to see a strong sales trend in September in both its Macy's and Bloomingdale's stores, with sales up 5.3% to US$2.3bn. Same-store sales increased 4.9% over the period. The result "underscores that our business remains on track, despite the persistently negative macroeconomic views," said chairman, president and CEO Terry Lundgren.
Action sportswear and footwear retailer Zumiez reported an 18.3% increase in net sales to reach US$52.9m during September. Comparable-store sales were up 10.1%, according to the company, which operates 428 stores.
Saks Inc attributed September sales gains to strong performances from women's shoes, handbags, contemporary apparel as well as men's apparel, shoes and accessories. Sales rose 7.3% to $275m as comparable store sales rose 9.3% over the month.
Kohl's attributed the improvement in its September results to a combination of the launches of its Jennifer Lopez and Marc Anthony ranges combined with the opening of 31 new stores. It said that overall sales increased 5.8% to $1.6bn, as comparable-store sales rose 4.1% against the same period of the previous year.
The Buckle reported a jump in September sales, up 13% to $98.4m, as comparable-store sales increased 10.3% over the period.
But Stein Mart saw sales fall 2.5% in the five weeks to 1 October to US$98.9m. Comparable-store sales were down 1.7% over the period, the department store operator said. At the end of September, it operated 263 stores.
Nordstrom reported a 16.3% increase in sales for the five weeks ended 1 October to reach US$943m. Same-store sales rose 9%. The company said that over the period it opened two full-line stores and six Nordstrom Rack outlets.
Dillard's has announced that sales for the five weeks to 1 October were up 2% to US$532.5m. Comparable store sales rose 3%.
Destination Maternity recorded a 6.6% increase in net sales to reach $44.2m, with comparable sales up 2.4% against a 1% decline in the same period last year. It attributed the gains to an expansion in its relationship with Macy's and increased internet sales, which were partially offset by lower sales related to its efforts to close under-performing stores.
Limited Brands, which owns lingerie brand Victoria's Secret, saw sales jump during September, up 11.2% to $818.6m. Comparable store sales increased 11% on a year-on-year basis. It ended the period with 2,968 stores.
Meanwhile, Bon Ton Stores has remained positive despite September sales not meeting expectations, adding that efforts in footwear expansions, increased penetration of updated merchandise and pilot store renovations have "gained traction". Over September, sales fell 4.1% to $286.9m. Comparable-store sales were down 3.6%.
Cato Corp also reported declines in September, which it attributed to the "very challenging retail apparel environment". Sales were down 2% to $70.7m, with same-store sales down 3% on the previous year. The company opened three new stores over the period.
Young fashion retailer Wet Seal admitted that its September sales were "below our expectations" as it recorded a 4.8% net sales gain to reach $53.6m. Comparable sales were down 0.3% against a 0.7% decline in the same period last year. The company said that over the period it continued to grow merchandise margins against the prior year, despite increased cost pressures.
JC Penney reported "softer than anticipated" sales during September, falling 3.6% over the period. Comparable-store sales declined 0.6%, against a 5.1% increase in the same period last year.
The Gap said that there have been "some bright spots" despite September net sales remaining flat at US$1.35bn and comparable store sales falling 4%, against a 1% decline in the same period of the previous year. Chairman and CEO Glenn Murphy said: "While there were some bright spots across our brands and business units, we're clear and focused on the steps necessary to improve our business performance going forward."
Stage Stores said that comparable-store sales fell 0.7% as overall sales remained flat at $118m for September. It said that cosmetics, footwear and children's wear recorded comparable-store sales gains over the period. It opened five Goody's stores and one Bealls store during the month.
Companies: Macy’s Inc, Nordstrom Inc, TJX Companies Inc, Ross Stores Inc, Federated Department Stores Inc, Zumiez Inc, Saks Incorporated, Kohl’s Corporation, Buckle Inc, Stein Mart, Dillard’s Inc, Destination Maternity, Limited Brands, Victoria’s Secret, Cato Corporation, Wet Seal Inc, JC Penney Company Inc, Stage Stores Inc
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