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Luxury and discount/mass sectors show strong summer activity
Here’s a look at retailer's reported sales for the five weeks ended July 2, 2011:
Target (Minneapolis) saw net retail sales increase 5.7 percent to $6,256 million. June comparable-store sales were up 4.5 percent.
Department store operator Dillard’s Inc. (Little Rock, Ark.) announced its merchandise sales grew 5 percent and comparable-store sales were up 6 percent. Competitor Kohl's Corp. (Menomonee Falls, Wis.) says its sales increased 9.2 percent and comparable store sales increased 7.5 percent over the five-week period.
Fashion discount operator TJX Cos. (Framingham, Mass.) saw above-plan results in June with sales up 8 percent to $2.1 billion. Consolidated comparable store sales for the five-week period grew 5 percent.
In the luxury department store sector, Saks Inc. (New York) says sales increased 8.7 percent, with same-store sales up 11.9 percent for the month.
Seattle-based Nordstrom reported a 7.9 percent increase in same-store sales. Preliminary total retail sales of $927 million were also announced. Total revenue was up 12.7 percent at Neiman Marcus Inc. (Dallas), while comparable revenue grew 12.5 percent.
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