The retails in the US seem to be turning the tide from total
pessimism to somewhat of a balanced growth, at least for a larger number of
retailers reflecting a sign of grin. Though in January, the general outlook was
discouraging, if not depressing, with only some very few retailers reporting
anything between marginal to reasonable growth; their numbers have increased
during February 2009. Let us have a quick look at the retail performance in the
US during February, 2009.
First, those who defied downturn and registered positive
growth. Music-influenced
apparel retailer Hot Topic has posted a 13.7% rise in February sales to $57.3m
at its Hot Topic and Torrid concepts. Sales climbed 13.8% to $44.1m at Hot
Topic, and increased 13.4% to $13.2m at Torrid. Same-store sales were up 10.8%,
the company said. Zumiez, which sells action sports related apparel and
footwear from 345 stores, reported a 0.2% increase in its sales for the four
weeks to 18 February, to $23.1 m. Same-store sales, however, fell 13.4%.
Fashion retailer, The Buckle bucked trends with a 27.5% hike in net
sales for the four weeks to 28 February, to $63.3m from $49.6m a year earlier.
Same-store sales increased 21.0%. Bakers Footwear Group also posted a
rise in revenues, with net sales up 10.6% to $13.9m from $12.6m. The firm,
which sells women's fashion footwear through 239 Bakers and Wild Pair stores,
said February same-store sales rose 12.8%.
Youth apparel retailer American Eagle Outfitters
posted a 1 % rise in total sales for February, $177.2m from $175.1m last year.
Comparable store sales were down 7% for the month. The company operates 953
American Eagle Outfitters stores, 116 Aerie by American Eagle stores, 28 Martin
+ Osa stores, and 77kids By American Eagle. Aeropostale, the mall-based
specialty re of casual and active apparel, reported a 23% jump in total net
sales in February. Sales rose to $109.9m from $89.7m. Same store sales
increased 11% for the month. American Apparel lnc, the manufacturer and
retailer of branded fashion basics, said its total retail sales increased 17%
for the month of February to $24.3m, up from $20.8m last year. Same-store sales
fell 9%. Warm weather boosted sales at value-priced women's wear retailer The
Cato Corporation. For the month of February its sales were up 11% to $74.7m
from $67.2m, and comparable store sales rose 8% over the prior year.
Ross Stores delivered "better-than-expected sales in February,"
with revenues up 7% to $476m from $444m. Comparable store sales grew 1%.
Dresses and shoes were the best performing merchandise categories, the company
said. Total sales at Kohl's Corporation rose 3.6% percent to $1.006bn in
February, up from $971.6m a year earlier. On a comparable store basis, sales fell 1.6%.
The company, which operates 1,004 department stores, said regular price sales
offset lower levels of clearance sales. Discounter Wal-Mart Stores, the
world's largest retailer, posted a 2.8% rise in total company sales in the four
weeks to 27 February, to $30.02bn from $29.19bn last time. Results were helped
by an 8.1% rise in Walmart US sales, which helped offset a 10.8% drop in
international sales which the company blamed on unfavourable exchange rates.
Total US same-store sales excluding fuel were up 5.1%.
There were, however, quite a good number of losers.
Important among were:
Apparel and footwear retailer Stage Stores its total
sales drop 4.7% to $100.9m in February, down from $105.9m in the same month
last year. Comparable store sales fell 8.6%, which the company said was due to
less clearance inventory. Dresses, intimate apparel, men's and petites
categories all performed better than the company average. February sales at Destination
Maternity were down 6.6% to $42.7m from $45.7m last year. Comparable store
sales dropped 3.5%. The maternity wear retailer, which operates 1,090 retail
locations, said it managed to lower inventory levels and markdowns and improved
gross margins. The Wet Seal, which sells fashions for young women,
reported a 5.8% drop in February sales to $39.8m. Comparable store sales were
down 6.6%, with a 5.6% fall at Wet Seal stores, and an 11.5% drop at Arden B.
Lower price points at Arden B improved regular price sell-through in February,
the company said.
Limited Brands, operator of the Victoria's Secret, La Senza and Henri
Bendel stores, posted a 10.8% drop in sales for the four weeks to 28 February,
down to $547 .8m from $614.4m a year ago. Same-store sales dropped 7% for the
period. February sales at The Children's Place Retail Stores were down
1% to $110.4m from $111.4m in the same month last year. Consolidated comparable
retail sales were flat, with a 3% decline in US same-store sales and a 2% rise
in Canada. E-commerce sales were up 50%. Off-price retailer Stein Mart
said its February sales fell 12.5% in February to $84.1m from $96.1m in the
same period last year. Same-store sales dropped 12.2%. The best performing
businesses were ladies' casual sportswear and dresses, while the most difficult
were ladies' career sportswear and gifts.