US: Retailers' May 2009 sales roundup
The following is a general roundup of US apparel and shoe chains' May 2009 sales results. The list will be updated as new results become available.
Music influenced fashion retailer Hot Topic Inc has reported a 2.9% fall in sales for the fiscal month of May, down to $46.0m. Same-store sales slipped 6.4%, with a drop of 6.9% at its Torrid stores and a fall of 6.3% at Hot Topic.
Action sportswear retailer Zumiez Inc said its net sales decreased 9.6% to $23.5m in the four weeks to 30 May, down from $26.0m in the same month last year. Comparable store sales decreased 20.7%, versus a rise of 0.2% a year ago. Zumiez operates 363 stores.
At Stage Stores, total May sales dropped 4.7% to $116.8m from $122.6m a year ago, and same-store sales fell 7.2%. Accessories, cosmetics, dresses, intimates, men's, misses sportswear, petites and plus sizes were the best performing categories at its Bealls, Palais Royal, Peebles and Stage nameplates.
Maternity wear retailer Destination Maternity Corporation reported a 5.3% drop in sales for the month to $51.3m from $54.2m. Same-store sales were down 5.4%, which the company blamed on comparisons with last year when it still operated departments in Sears stores, and the warm weather helping to shift some sales into April.
The Cato Corporation, which sells value-priced women's fashion from Cato and It's Fashion stores, posted sales of $78.1m for the four weeks ended 31 May, down 3% on last year's $80.5m. Same-store sales decreased 3% after stimulus cheques boosted spending last year.
Women's shoe retailer Bakers Footwear Group Inc saw its sales rise 2% in May, rising to $15.4m from $15.1m last year. Comparable store sales were up 3.1%, which reflected "solid regular price selling of open-toe footwear," the company said.
Sales at teen fashion retailer The Wet Seal Inc dropped 8% in the four weeks to 30 May to $42m. Same-store sales were down 8.4%, with an 11% rise at its Arden B stores offset by a 12.4% slump at Wet Seal. It said "inventory mix imbalances" were to blame at Wet Seal, while Arden B achieved regular price sell-through of its fashionable merchandise.
Sales continued to grow at The Buckle Inc, with the teen fashion retailer posting a 19.2% hike in its May sales, to $60.6m from $50.8m. Comparable store sales, for stores open at least one year, climbed 13.4%. Buckle operates 393 stores.
Limited Brands Inc, operator of the Victoria's Secret, Pink, La Senza, and Henri Bendel stores, reported a 6.4% drop in net sales, falling to $618.7m from $661.3m a year earlier. Same-store sales were down 7%, the company said.
At The Children's Place Retail Stores Inc, net sales dropped 7% to $101.7m in the four weeks to 30 May, from $109.4m last time. Comparable retail sales, which include online sales, declined 9%, following a 12% rise last year. During May 2009, same-store sales fell 9% in the US and were down 7% in Canada, but online sales were up by 1%.
May sales at Gap Inc fell 5% to $1.03bn, down from last year's $1.09bn. Comparable store sales were down 6%, with Old Navy North America the only unit to see growth with a 3% rise. In contrast, same-store sales fell 11% at Gap North America, dropped 14% at Banana Republic North America, and were down 7% at its International division. The company said merchandise margins were in-line with last year.
A 30% jump in May sales was seen by teen apparel retailer Aeropostale Inc, with total net sales soaring to to $132.9m from $102.3m last time. Same store sales increased 19% for the month, compared to a 6% rise in the year ago period. The company said it experienced strong customer reaction to its summer collection, with merchandise margins for the month ahead of last year.
Abercrombie & Fitch, meanwhile, posted a 22% slump in net sales to $182.1m, down from last year's $233.1m. Same-store sales were down 28%, with declines seen in all its formats. Abercrombie & Fitch was down 25%, Abercrombie fell 28%, Hollister Co dropped 32%, and Ruehl tumbled 33%. Total company direct-to-consumer net sales dropped 10% to $15.6m.
Specialty fashion retailer Nordstrom Inc said its retail sales fell 8.7% in the month of May to $653m, down from $716m a year earlier. Same-store sales dropped 13.1%. The company operates 111 full-line stores, 61 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores.
"Fresh and exciting bargains" have helped Ross Stores Inc to a 10% rise in sales for the four weeks to 30 May, to $564m from $513m. Same store sales increased 4%. Sales were helped by warm weather in many areas, with dresses and shoes the strongest merchandise categories.
Casual wear retailer American Apparel Inc posted a 10% drop in May same-store sales, compared with a rise of 24% in the same month last year. There were 170 stores in the sales comparison, the company said.
Department store operator The Bon-Ton Stores Inc saw its total sales in May fall 11.9% to $188.9m from $214.3m a year ago. Comparable store sales were down 12.1%. The company, which operates 280 stores, said reduced clearance merchandise sales accounted for half of the same-store sales decrease. Best performing businesses were ladies' moderate sportswear, dresses, petite sportswear and intimate apparel.
At Dillard's Inc, merchandise sales were down to $430.05m in May, from $499.70m in the prior year. Sales in comparable stores decreased 12% for the four-week period.
May's sales results were stronger than planned at Kohl's Corporation, with a 4.1% rise in total sales to $1,255m from $1,206m in the same month last year. On a comparable store basis, sales fell 0.4%. Accessories was the strongest performing line of business said the company, which operates 1,022 stores.
Total sales at JC Penney Company Inc were down 6.7% in May to $1,254m, from $1,344m a year ago. Comparable store sales fell 8.2% - which was slightly better than the company's guidance. Spring apparel offerings meant the women's division was the top performing merchandise division during the month.
Saks Incorporated has posted a 25.8% slump in May sales, to $166.1m from $223.9m. Same store sales were down by an even steeper 26.6% for the month, which the retailer blamed on the shift of a designer sale event into June. The Saks Fifth Avenue stores saw weakness across all merchandise categories, while Saks Direct and Off 5TH showed "relative strength" the company said.
At The TJX Companies Inc, sales for the four weeks to 30 May were $1.49bn, up 4% over the $1.43bn achieved in the same month last year. Consolidated comparable store sales exceeded expectations and were 5% higher than last year. Sales were hit by foreign currency exchange rates, but were boosted by customers seeking value-priced fashions.
Meanwhile, Target Corporation reported a 2.3% drop in its net retail sales for May, coming in below expectations at $4,458m compared with $4,564m last year. Same-store sales dropped 6.1%. The company operates 1,698 Target stores.
Companies: Wet Seal, Hot Topic, Zumiez, Cato, Stage Stores, Destination Maternity, Sears, Nordstrom, Bakers Footwear, The Buckle, Limited Brands, Victoria’s Secret, The Children’s Place, Gap Inc, Aeropostale, Ross Stores, Saks, American Apparel Inc, The Bon-Ton Stores, Dillard’s, Kohl’s, JC Penney, The TJX, Target Corporation
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