Most retailers announced May same-store sales Thursday. Overall, a mixed bag:
- Costco sales at stores open at least one year rose 7% vs. analyst estimates of 5.4%. Total sales rose 11% to $5.14 billion.
- Wal-Mart Stores sales at stores open at least one year rose 1.1%, excluding fuel, or 1.3% including fuel; analysts expected 1.4%. It sees 0-2% gains in June.
- Gap same-store sales fell 3%. Total sales gained 2% to $1.19b.
- Target Corp. same-store sales climbed 5.8%, in line with internal forecasts and analyst expectations. Net sales increased 10.1% to $4.33b. It said it June same-store sales should rise 3-5%.
- Limited Brands sales at stores open at least one year rose 2%; analysts were looking for a 1.6% drop. Net sales climbed from $719m to $775m. It said it expects a low-to-mid-single-digit percentage increase in June same-store sales.
- Abercrombie & Fitch same-store sales fell 5%, vs. estimates of -1.2%. Sales were up 16% to 215 million. Direct-to-consumer sales rose 50% to $12.9 million.
- J.C. Penney same-store sales fell 2%; analysts had estimated a 0.3% gain. Total sales rose 0.3% to $1.2 billion. The company expects June same-store sales gains in the low single-digits.
- Kohl's Corp. same-store sales rose 10.5% (the exact same amount by which they fell in April), vs. an expected 6.2%. Total sales were up 19% to $1.19 billion. May results, it said, were driven by broad-based strength, but it expects a low-single-digit drop in June due to a calendar shift.
- Saks Inc. sales at stores open at least one year jumped 37.5%, way ahead of estimates of 13.9%. Total sales gained 39.4% to $248.9 million.
- Jos. A. Bank Clothiers Inc. comparable-store sales jumped 13.5%, vs. a projected gain of 3.3%. Direct-marketing sales rose 16.3%. Total sales were up over 23% to $45.3 million.
- Nordstrom same-store sales rose 6.3%, vs. analyst estimates of 2.6%. Total sales gained 6.1% to $638 million.
- Pacific Sunwear same-store sales climbed 6.4%. Total sales were up 10.9% to $98 million.
- Bebe Stores Inc. same-store sales fell 3%, slightly worse than analyst estimates of -2.8%. Total sales were up 8% to $53.1 million.
- American Eagle Outfitters Inc. sales at stores open over one year were up 5%, vs. analyst estimates of a 5.7% gain. Total sales rose 18% to $199 million. It reiterated Q1 EPS forecasts of $0.34-0.35, vs. analysts estimates of $0.36.
- Sharper Image Corp. same-store sales fell 8%, better than analyst estimates of a 13.8% drop. Total company sales tumbled 27% to $24.1 million. It is the company's 31st straight month in decline.
- AnnTaylor Stores same-store sales dropped 4.6%, vs. consensus estimates of -3.1% drop. It said weak mall traffic and sweater sales hurt its numbers. Total sales rose slightly to $221 million.
- Family Dollar Stores same-store sales climbed 2.5%, ahead of estimates of 2%. Total sales were up 5.9% to $522 million. Sales of home products were soft, while apparel and food were stronger (a complete reversal of April's trend).
- Stein Mart Inc. sales at stores open at least one year were up 2.9%; analysts were calling for flat same-store sales. Total sales fell 0.6% to $119 million.
- BJ's Wholesale Club Inc. same-store sales rose 4.1%, vs. estimates of a 1.5% gain. This included a 2.2% jump in gas sales. Net sales were up 8.2% to $711 million.
- Wet Seal same-store sales were up 1.9%. Net sales were $42.6 million, vs. $37.3 million a year ago. It expects another low-single-digit increase in comparable-store sales for June, and reiterated Q2 guidance of "significant improvement in gross profits and operating income."
- Wilsons The Leather Experts comparable-store sales fell 25%; analysts were calling for a milder -14.5%. Total sales dropped 27% to $11.4 million.
- Children's Place sales at stores open at least one year rose 4%, ahead of analysts' 2.9% estimate. Total sales were up 13% to $128 million.
- Dillard's sales at stores open at least a year fell 2%, vs. estimates of a 1.2% drop. Sales fell 1% to $533 million. The company said shoe sales were strong and cosmetics sales were weak.
- Macy's same-store sales fell 3.3%; analysts were expecting a milder 1% drop. Total sales fell 2.3% to $1.98 billion. "While we were disappointed with sales in the month of May... increased promotional marketing ... is expected to improve sales trends in June and July," it said, forecasting a -2 to 0% change in June.
- TJX same-store sales were up 5%, ahead of analyst forecasts of 3.7%. Total sales grew 9% to $1.4 billion.
- Cato sales at stores open at least one year rose 2%, while analysts were calling for a 4% drop. Total sales were up 3% to $76 million. The company said inventory levels improved as a result of markdown sales.
- Ross Stores same-store sales rose 1%. Total sales were up 9% to $450 million. For June, it expects 0-1% same-store sales gains, and 3-4% in July.
- Rite Aid same-store sales were up 1.7%, short of the 2.5% analysts expected. Total sales were up 2.2% to $1.72 billion.
- Dollar General same-store sales were up 4.1% (or 3.5% excluding the 122 stores it's closing). Analysts were looking for a milder 2.9%. Total sales increased 6% to $733 million.
Sources: Reuters, MarketWatch I, II, III, IV, V, VI, VII, VIII, IX, X, XI, XII, XIII, XIV, XV, XVI, XVII, XVIII, XIX, XX, XXI, XXII, XXIII, XXIV, XXV, XXVI, XXVII, XXVIII
Commentary: April Same-Store Sales Roundup • March Same-Store Sales Retail Roundup
Stocks/ETFs to watch: Pacific Sunwear of California Inc. (NASDAQ:PSUN), bebe stores inc. (NASDAQ:BEBE), Nordstrom Inc. (NYSE:JWN), Limited Brands Inc. (LTD), Wal-Mart Stores Inc. (NYSE:WMT), Costco Wholesale Corp. (NASDAQ:COST), Saks Inc. (NYSE:SKS), American Eagle Outfitters Inc. (AEOS), Sharper Image Corp. (SHRP), J.C. Penney Company Inc. (NYSE:JCP), Abercrombie & Fitch Co. (NYSE:ANF), Target Corp. (NYSE:TGT), Kohl's Corp. (NYSE:KSS), AnnTaylor Stores Corp. (NYSE:ANN), Family Dollar Stores Inc. (NYSE:FDO), Stein Mart Inc. (NASDAQ:SMRT), BJ's Wholesale Club Inc. (NYSE:BJ), Jos. A. Bank Clothiers Inc. (NASDAQ:JOSB), Wet Seal Inc. (WTSLA), Wilsons The Leather Experts Inc. (WLSN), The Children's Place Retail Stores Inc. (NASDAQ:PLCE), Dillard's Inc. (NYSE:DDS), Macy's Inc. (NYSE:M), TJX Companies Inc. (NYSE:TJX), Cato Corp. (CTR), Ross Stores Inc. (NASDAQ:ROST), Rite Aid Corp. (NYSE:RAD), Dollar General Corp. (NYSE:DG)
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