May Same-Store Sales Roundup

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. (PSUN), bebe stores inc. (BEBE), Nordstrom Inc. (JWN), Limited Brands Inc. (LTD), Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST), Saks Inc. (SKS), American Eagle Outfitters Inc. (AEOS), Sharper Image Corp. (SHRP), J.C. Penney Company Inc. (JCP), Abercrombie & Fitch Co. (ANF), Target Corp. (TGT), Kohl's Corp. (KSS), AnnTaylor Stores Corp. (ANN), Family Dollar Stores Inc. (FDO), Stein Mart Inc. (SMRT), BJ's Wholesale Club Inc. (BJ), Jos. A. Bank Clothiers Inc. (JOSB), Wet Seal Inc. (WTSLA), Wilsons The Leather Experts Inc. (WLSN), The Children's Place Retail Stores Inc. (PLCE), Dillard's Inc. (DDS), Macy's Inc. (M), TJX Companies Inc. (TJX), Cato Corp. (CTR), Ross Stores Inc. (ROST), Rite Aid Corp. (RAD), Dollar General Corp. (DG)

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