NEW YORK – Following stellar September same-store sales some retailers were pressured in October leading to softer results overall.
Comps were mixed, with higher-end and trend-right retailers continuing to outperform. Cooler weather and falling energy prices drove stronger sales later in the month to help some retailers recover.
Department stores continued to do well in October, although their results dropped slightly off of September’s highs. Nordstrom turned in a 10.7 increase; Saks Fifth Avenue climbed 9.2, and J.C. Penney was up 8.1. Federated hit its stride with a 7.7 percent increase, up over even September’s numbers.
Wal-Mart turned in an early comp result that was lower than expected, increasing only 0.5 percent over last year. Target posted better numbers, with a 3.9 percent increase.
In the specialty sector, stores reported mixed results. Fashion driven, contemporary retailers performed decently, but some stores missed the mark. Stand-out results from Guess, Aeropostale, Bath and Body Works, Victoria’s Secret, and Cache helped the segment, but disappointing results at Chico’s, Abercrombie & Fitch, Ann Taylor, Hot Topic and continued declines for Gap and Old Navy weighed the sector down.
For complete coverage see tomorrow’s issue of WWD.