Macy's Inc. (Cincinnati) reported its same-store sales were down 0.8 percent for the four weeks ended Oct. 31, 2009, while total sales dropped 1.3 percent compared with last year. For the third quarter of 2009, the department store retailer’s total sales were $5.276 billion, a decrease of 3.9 percent compared to the same period last year, while same-store third-quarter sales are down 3.6 percent.
Apparel retailer Gap Inc. (San Francisco) reports its net sales of $1.14 billion for October show an increase of 5 percent compared to last year, while comparable store sales for October rose 4 percent. “We’re pleased that we grew sales in October while delivering merchandise margins significantly above last year,” says Sabrina Simmons, chief financial officer of Gap Inc. “For the third quarter, we expect to deliver diluted earnings per share about 20 percent above last year.”
Among its brands, same-store sales at Gap North America dropped 6 percent versus a negative 14 percent last year; Banana Republic North America’s were up 5 percent compared to a 17 percent drop last year; Old Navy North America reported a strong 14 percent growth versus a 20 percent decline last year; while Gap International saw sales decline 4 percent, a one percent improvement compared to last year.
Destination Maternity Corp. (Philadelphia) announced October net sales dropped 1.8 percent, while comparable store sales decreased 5.2 percent. The retailer recently relaunched its exclusive Two Hearts Maternity collection in 619 Sears and Kmart stores during the month.
Apparel company Liz Claiborne Inc. (New York) saw its third-quarter loss widen, hurt by consumers' continued caution when it came to non-essential spending and by its restructuring costs as well as charges to write down trademarks. The company, which owns Juicy Couture and Lucky Brand, reported sales declined 24 percent to $769.6 million from $1.01 billion, including a 1.2-percentage-point negative impact from currency translations. Same-store sales in its key retail formats declined less than it projected with sales dropping 13 percent at Juicy Couture, 16 percent at Lucky Brand, 3 percent at Kate Spade, 13 percent at Mexx and 13 percent in the U.S. Liz Claiborne outlets.
Children's Place Retail Stores Inc. (Secaucus, N.J.) says sales at stores open at least a year fell 5 percent in the U.S. and dropped 3 percent in Canada. Online sales jumped 36 percent for the month.