NEW YORK – Retailers posted broad-based strength in January same-store sales Thursday, helped by post-holiday promotions, pleasant weather in the Northeast and gift card redemptions.
You May Also Like
Particular strength was seen in the mass merchant group, with Target Corp., TJX Cos., Ross Stores Inc., Retail Ventures Inc. and Wal-Mart’s discount stores each posting comps that rose at least 4 percent. In addition, most retailers were able to maintain margins, which helped them reiterate previously released fourth-quarter earnings guidance. Some, such as Aeropostale, Federated Department Stores and TJX, upped their quarterly forecasts.
Wal-Mart Stores Inc., which posted a 4.7 percent consolidated January comp in its U.S. stores, said in a statement that the month’s sales result was “the highest monthly comparable store sales increase in this fiscal year.” The company cited its merchandise and operational initiatives geared at improving the “Wal-Mart customer experience” and making the stores “more relevant to a broader range of customers.”
Strength was also seen in the luxury and specialty store channel. Nordstrom posted a 6 percent comp-store gain, while the Neiman Marcus Group had a 4.1 percent January-comp gain. Saks Inc.’s Saks Fifth Avenue division had a 3.7 percent increase, aided by a four-day, store-wide clearance event. From the specialty chains, Guess Inc., Abercrombie & Fitch Co. and AnnTaylor Stores Corp. saw comps soar in January. Guess’ comps were up 31 percent, while Abercrombie had a same-store sales increase of 33 percent. Ann Taylor had a 10.9 percent rise in the month’s comps, led by strong sales from its Ann Taylor division.
For complete coverage, see tomorrow’s WWD.