June Sales Disappoint

Total June sales at stores open at least a year rose 0.1 percent, missing analysts’ expectations of a 0.5 percent gain, Marketwatch reports. That marks the smallest pace since sales declined in August 2009, according to Thomson Reuters.

Total sales at Macy’s Inc. (Cincinnati) were $2.412 billion for the five weeks ended June 30, 2012, an increase of 0.8 percent. On a same-store basis, Macy's were up 1.2 percent in June 2012. “June sales were below expectations. In part, this was a function of a macroeconomic environment that is stagnant at best, and lower spending by tourists in cities such as New York,” says Terry Lundgren, chairman, president and ceo, Macy's Inc.

The Bon-Ton Stores Inc. (York, Pa.) saw comparable store sales decrease 0.8 percent for the month while total sales dropped 1 percent.

Mid-tier department store retailer Kohl's Corp. (Menomonee Falls, Wis.) reports sales dropped 2.6 percent and comparable store sales decreased 4.2 percent for the five-week period ended June 30, 2012. “Though June sales were again lower than expectations, we are encouraged by improved sales in the latter weeks of the month as we continued to build inventory levels,” says Kevin Mansell, Kohl’s chairman, president and ceo. “From a line of business perspective, Men’s and Footwear were the strongest categories. The Midwest was the strongest region.’

Luxury department store retailer Saks Inc. says its comparable store sales were up 6 percent for the month, while Nordstrom Inc. (Seattle) saw an 8.1 percent increase in same-store sales for the five-week period.

Among specialty retailers, Gap Inc. (San Francisco) reports its June 2012 net sales increased 2 percent compared with last year. Same-store sales were flat compared with a 1 percent increase for June 2011. Among its brands, Gap North America same-store sales grew 4 percent; Banana Republic North was up 5 percent; Old Navy North America increased 1 percent; and international sales declined 14 percent

The TJX Cos. Inc. announces a 9 percent sales increase to $2.3 billion for the five-week period, while same-store sales grew 7 percent.

Minneapolis-based Target Corp. saw its net retail sales grow 2.6 percent in June, while comparable-store sales increased 2.1 percent. “Following better-than-expected performance in May, our June comparable-store sales were near the low end of our expected range,” says Gregg Steinhafel, chairman, president and ceo of Target Corp.

Drug-store chain Rite Aid (Camp Hill, Pa.) announces a 1 percent same-store sales drop for the month. Total drugstore sales for the four-week period decreased 1.6 percent.