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Retailers report stronger sales than other sectors
Luxury retailers lead the rally in September retail sales. Among the month’s same-store sales tallies:
Upscale retailer Nordstrom Inc. (Seattle) saw same-store sales increase 7.5 percent for the five weeks ended October 2. The result beat analyst estimates of a 4.3 percent increase.
Saks Inc. (New York) says its comparable-store sales grew 6.5 percent and sales totaled $256.4 million for the five weeks ended October 2.
Neiman Marcus (Dallas) reported a 4.7 percent increase in September same-store sales. Total sales increased 4.9 percent to $371 million.
Among department stores, Macy's Inc. (Cincinnati) reported same-store sales were up 4.8 percent in September. Total sales were $2.183 billion, an increase of 6.9 percent compared to last year. "The back-to-school season has been one of our most successful in years, including continued strong results from private brands such as American Rag and the launch of Material Girl, the exclusive juniors brand by Madonna,” says Terry Lundgren, chairman, president and ceo, Macy's Inc.
JC Penney (Plano, Texas) says its September comparable store sales rose 5.1 percent, while total sales grew 2.9 percent.
In the discount retail sector, TJX Cos. (Framingham, Mass.), which operates chains T.J. Maxx, Marshalls, HomeGoods, and A.J. Wright, reported September same-store sales rose by 1 percent
Target Corp. (Minneapolis) saw its same-store sales rise 1.3 percent in September, or at “near the low end” of the company’s estimates, Target ceo Gregg Steinhafel said in a press statement.
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