//
you're reading...
Reporting, Retail, Revenue Growth

For Stores, April Results Lack Luster


Consumers didn’t do all the shopping that stores expected in April, leading to some disappointing same-store results.

Overall, the International Council of Shopping Centers (ICSC) says its index rose 0.6% on a year-over-year basis, dampened by an earlier-than-usual Easter and unseasonably warm weather. On a two-month basis, however, the trade group says March-April sales pace held relatively steady.

Those that did shop went looking for bargains, favoring off-price chains. TJX, parent of TJMaxx, Marshalls and Home Goods, says comparable store sales climbed 7%. And at Ross Stores, comparable store results advanced by 7%, as well. “Our continued ability to deliver a wide array of name brand bargains to today’s value-focused consumers drove broad-based merchandise and geographic gains in both periods,” says Michael Balmuth, CEO, in the Pleasanton, Calif.-based company’s release. At Target, though, comparable-store sales grew by just 1.1%.

Middle-tier chains didn’t do well. Macy’s, for example, reported a scant 1.2% increase, although it, too, pointed to a combined gain of 4.4% for the combined March and April period. (And online sales in April gained 29.9%.)

Sales fell 2% at the Gap, and 1.9% at Kohl’s. “As expected, warm March weather and an early Easter contributed to a decline in April’s sales,” Kevin Mansell, Kohl’s CEO, says in its release.

A few stores actually beat expectations. At Nordstrom, same-store sales gained 7.1%. (Saks disappointed, however, posting a bump of 2%.) And Limited Brands, parent of  Victoria’s Secret, Bath & Body Works and Henri Bendel, says sales climbed 6%.

Among teen retailers, Zumiez gained 10%, well above expectations, and the Buckle came in with the 1% that had been predicted. But Wet Seal posted a 9.6% decline.

ICSC says it expects May sales to advance by about 3%.

via MediaPost Publications For Stores, April Sours 05/04/2012.

Advertisements

About Bob Innes

Who am I and what I do best! I am a skilled Sales and Marketing team player known for performing behind the scenes miracles that increase base distribution, improve customer relationship management, exceed annual sales volume,and profitability for Consumer Packaged Goods companies. And I've been doing it for over 15 years. My successful contributions include such clients as Kraft Foods, Mars, Bumble Bee Foods, Unilever, Johnson and Johnson and SC Johnson, and JM Smuckers.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: