Sports Athletic Apparel

Us: Retailers' October 2008 Sales Roundup

The following is a general roundup of US apparel and shoe chains' October 2008 sales results. The list will be updated as new results become available.

Sales at Wal-Mart Stores Inc, the world's biggest retailer, rose 2.3% in the four weeks to 31 October, up to $28.57bn from $27.9bn a year earlier. Sales at Walmart US were up 5.3% to $18.36bn and rose 4.5% at Sam's Club to $3.44bn. The company's international sales fell 5.9% to $6.76bn, which it blamed on the strengthening of the dollar. Total US same-store sales climbed 2.4%, with a 2.2% gain at Walmart and a rise of 3.6% at Sam's Club.

Target Corporation described its October results as "very disappointing," with sales falling 0.7% to $4,415m from $4,445m a year earlier. On a same-stores basis, sales were down 4.8%. The company said it expects the challenging sales environment to "continue into the holiday season and beyond."

Manufacturer and retailer American Apparel said sales at its 152 stores open for more than 12 months increased 22% in October. But this compares with the same month a year ago when same-store sales increased 44%.

Women's wear retailer Cache Inc, which operates 297 stores, posted an 11% drop in comparable store sales. Total net sales fell 10% to $18.5m. The company said declines in mall traffic were to blame.

Same-store sales at department store retailer The Bon-Ton Stores Inc were down 11.1% in the four weeks to 1 November. Total sales dropped 10.7% to $218.4m from $244.7m. It said cold weather boosted sales of outerwear, but could not mitigate the sales shortfall early in the month.

Fashion apparel and home furnishing retailer Dillard's Inc saw its October sales fall 8.7% to $406m from $444.7m last time. Sales in comparable stores dropped 8% for the four-week period.

Macy’s Inc reported total sales of $1.7bn for the four weeks ended 1 November, down 6.9% from last year's $1.8bn. On a same-store basis, sales were down 6.3%. The retailer operates more than 850 department stores under the Macy's and Bloomingdale's names.

October sales at retailer Saks Incorporated tumbled 18.6% to $219.0m from $269.1m last time. Comparable store sales decreased 16.6% for the month. The strongest categories were Saks Direct, men's shoes, men's contemporary apparel, and women's outerwear. Shoppers shifted purchases from regular price to promotional priced merchandise, the company said.

Kohl’s Corporation saw a 4.8% drop in its total sales for the four weeks to 1 November, to $1,212m from $1,274m. On a comparable store basis, sales decreased 9.0%. The company said customers focused on "need and value" in their purchases.

JC Penney Company Inc posted a 13% drop in comparable store sales, while total company sales in October decreased 11.8% to $1.36bn. Results were impacted by ongoing declines in mall traffic and a pronounced slowdown in consumer spending, it said, adding that its apparel divisions were the strongest performers.

October sales at off-price retailer The TJX Companies Inc fell 2% to $1.48bn, from $1.52bn last year. Comparable store sales were down 6%, driven by an unexpected drop in foreign currency exchange rates versus the US dollar. The company operates TJ Maxx, Marshalls, Winners, and TK Maxx nameplates.

Fashion retailer The Buckle Inc said its same-store sales rose 14.5% in October, with net sales rising 20.7% to $60.3m from $50.0m in the prior year period. Buckle operates 387 stores.

Bakers Footwear Group Inc, a specialty retailer of fashion footwear for young women, reported a 3.1% rise in net sales for the four weeks to 1 November, up to $13.4m from $13.0m in the same period last year. Comparable store sales were up 6.2. The company said it saw "increased regular price selling."

The Wet Seal Inc, which sells fashion apparel and accessories through its Wet Seal and Arden B stores, has posted a 3% drop in October sales to $40.3m. Sales were up 4.2% at Wet Seal to $33.4m, but tumbled 27.3% at Arden B. On a same-store basis, total sales were down 6.2%, with a 0.9% rise at Wet Seal and a 29.4% drop at Arden B.

Limited Brands Inc, operator of the Victoria’s Secret, Pink, La Senza, and Henri Bendel said its same-store sales fell 9% in the four weeks to 1 November. Net sales were down 10% to $580.4m from $644.7m last year.

Youth fashion retailer Pacific Sunwear of California Inc, which operates 815 PacSun stores and 125 PacSun Outlet stores, posted a 10% drop in its total sales in fiscal October, to $69.3m from $76.7m. Same-store sales were down 11% during the same period.

The Children’s Place Retail Stores Inc announced a 9% rise in net sales of $144.9m, up from $133.0m a year ago. Comparable store sales increased 4% at the retailer, which operates 920 stores.

Total sales at off-price retailer Stein Mart Inc fell 12% to $100.0m from $113.7m a year earlier. Same-store sales fell 12.5% it said. Ladies' casual wear and dresses produced the best comparable store sales, while ladies' career sportswear was among the worst performers. The company has 280 stores.

Cooler weather in October helped The Cato Corporation to a 5% rise in sales for the month, up to $59.5m from $56.9m. Comparable store sales increased 4%, but were at the lower end of expectations. "Business remains very difficult," said the operator of the Cato and It's Fashion chains.

Gap Inc saw its sales tumble 12% in the four weeks to 1 November, dropping to $1.08bn from $1.23bn in the same period last year. The company's comparable store sales dropped 16%. By division, same-store sales were down 14% at Gap North America, fell 17% at Banana Republic North America, and plunged 20% at Old Navy North America. Its international sales fell 5%.

American Eagle Outfitters Inc, which targets girls and guys aged 15 to 25, reported a 3% drop in total sales for the four weeks to 1 November. Sales fell to $204.8m from $210.2m last time. Same-store sales decreased 12% for the month.

Another youth apparel retailer, Abercrombie & Fitch, said its net sales tumbled 14% to  $215.0m from $251.1m. October comparable store sales decreased 20%. Total direct-to-consumer net sales fell 4% to $17.7m at the retailer, which operate Abercrombie & Fitch, Abercrombie stores, Hollister Co, Ruehl and Gilly Hicks stores.

Aeropostale Inc, which sells casual and active apparel for young women and men, saw a 9% rise in total October sales, up to $127.4m from $116.4m in the same month last year. The company's same store sales rose 1% for the month.

Chico’s FAS Inc, operator of the Chico's, White House | Black Market and Soma Intimates names, reported a 2.2% drop in its net sales for October, to $118.5m from $121.2m a year ago. Same-store sales dropped 13.4%.

October same store sales at off-price retailer Ross Stores Inc declined 2%, due to unseasonably warm weather in many of its markets and ongoing macro-economic pressure. Total sales rose 4% to $490m from $470m.

Specialty fashion retailer Nordstrom Inc reported a 15.5% drop in October sales to $529m from $626m a year ago. Same-store sales dropped 15.7% percent, compared with the same period in 2007. The company, which operates 167 stores, said the economic and competitive retail environment "remained challenging."

Mall-based specialty retailer Hot Topic Inc posted an 11.6% rise in October net sales, to $64.8m. Sales were up 23.6% at its Torrid chain, and rose 9.3% at its Hot Topic stores. On a same-store basis, total sales fell 4%, with a 0.6% rise at Torrid unable to offset a 4.7% decline at Hot Topic.

Weak demand meant that October same-store sales at action sportswear retailer Zumiez Inc fell 13.1%. However, total net sales were up 1.2% to $25.0m from $24.7m a year earlier. The firm operates 340 stores.

For more information, please visit www.cantonfootwear.org

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