Gap Inc, the largest US specialty clothing retailer, said its February sales
fell 12% to $795m from $907m. The company's same-store sales were also down
12%, with declines in all divisions. Gap North America fell 12%, Banana
Republic North America was down 16%, Old Navy North America dropped 13%, and
International same-store sales were down 6%. For the four weeks to 28 February,
net sales at Abercrombie & Fitch tumbled 24% to $174.5m, down from
$228.9m a year earlier. Comparable store sales slumped 30%. Total company direct-to-consumer
net sales were down 17% to $14.1 m. By chain, same-store sales at Abercrombie
& Fitch fell 27%, decreased 34% at Abercrombie, dropped 33% at Hollister
Co, and were also down 33% at Ruehl.
Specialty fashion retailer Nordstrom saw its sales
fall 10.9% to $471m from $529m in February. Same-store sales were down 15.4%.
The company operates 196 Nordstrom, Nordstrom Rack, and Jeffrey stores. For The
Bon-Ton Stores, sales fell 7.8% to $200.2m in February, down from $217
.Om in the same month last year. Same-store sales dropped 8.5%. The results were "in line
with our expectations" at the company which operates the Bon-Ton, Bergner's,
Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's, Younkers and
Parisian nameplates.
Department store retailer Macy's reported total sales
of $1.576bn for the four week period, down 9.3% from last year's $1.737bn. On a
same-store basis, sales were down 8.5% in February. Online sales were up by
16.2%. Dillard's said its merchandise sales fell 14% in February to
$497.7m from $581.6m a year earlier. Sales in comparable stores dropped 13% for
the four-week period. Demand for juniors' and children's apparel was "significantly below trend," the
company said. For off-price retailer The TJX Companies, sales were down
2% to $1.22bn from $1.25bn last February- and included the anticipated negative
impact of foreign currency exchange rates. Same-store sales were flat with last
year.
Saks Incorporated, operator of the Saks Fifth Avenue and Saks Off 5th
stores, blamed weakness across all merchandise categories, particularly in women's apparel, for a
26.8% drop in owned sales. These dropped to $166.7m from $227 .6m, while
comparable store sales were down 26.0% for the month.
For the four weeks to 28 February, sales at JCPenney
Company dropped 7.2% to $1.17bn from $1.27bn in the prior year. Comparable
store sales were down 8.8%. Women's apparel performed well according to the
operator of 1,101 department stores. For discounter Target Corporation,
net retail sales in February were $4.37bn, which is flat with last year.
Comparable-store sales declined 4.1%. Target operates 1,699 stores.
Originally
published in The Stitch Times: April 2009
