Retail sales remain slow

Retailers are still experiencing the brunt of the recession as reported sales from last month are still a disappointment, unless beating expectations which are negative anyway is something to be happy about.  Here are some of the numbers:

Costco Wholesale Corp. reported a 2% drop in the U.S. excluding gasoline while Target Corp. saw bigger 6.5% decline.  Costco’s rival BJ’s Wholesale Club Inc. differed with a 1.8% growth but is still lower than estimates
Higher-end Abercrombie and Fitch Co. had same-store sales lower by 28% for the month. It hasn’t reported growth since April of last year.  However, cheaper rival Aeropostale Inc. maintained its competitive advantage with increased sales of 6%.
TJX Cos.’ exceeded estimates growing sales 4% and Ross Stores Inc. did the same with another 4% gain.
Department stores sales were all worse off:
Macy’s sales declined 11%
J.C. Penney Co.’s gave worse than expected with 12% drop, although it improved its outlook
Nordstrom Inc.’s saw 6.9% less sales but it’s not as bad as Stage Stores Inc. which took a 12% hit
Costco Wholesale Corp. reported a 2% drop in the U.S. excluding gasoline while Target Corp. saw bigger 6.5% decline.  Costco’s rival BJ’s Wholesale Club Inc. differed with a 1.8% growth but is still lower than estimates.
A typical Abercrombie image

A typical Abercrombie image

Higher-end Abercrombie and Fitch Co. had same-store sales lower by 28% for the month. It hasn’t reported growth since April of last year.  However, cheaper rival Aeropostale Inc. maintained its competitive advantage with increased sales of 6%.

vicsec

From the Victoria's Secret Fashion Show

TJX Cos.’ exceeded estimates growing sales 4% and Ross Stores Inc. did the same with another 4% gain.

Department stores sales were all worse off:

Macy’s sales declined 11%
J.C. Penney Co.’s gave worse than expected with 12% drop, although it improved its outlook
Nordstrom Inc.’s saw 6.9% less sales but it’s not as bad as Stage Stores Inc. which took a 12% hit

A little better on the apparel front:

Limited Brands Inc., parent company of Victoria’s Secret, reported a 7% decrease, a figure better than anticipated while Gap Inc. similarly outperformed expectations although still with an 8% drop. Earnings outlook also improved.

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