May’s Mixed Sales Bag

Many retailers reported May sales results this week. Among specialty apparel retailers, Gap Inc. (San Francisco) reported net sales dropped 5 percent to $1.03 billion for the four-week period ended May 30, 2009. The company’s comparable store sales for May 2009 were down 6 percent, compared with a 14 percent decrease in 2008. By division, Gap North America’s same-store sales dropped 11 percent; Banana Republic North America was down 14 percent; and international decreased 7 percent. The more budget-conscious Old Navy North America reported a 3 percent sales growth.

Limited Brands Inc. (Columbus, Ohio) reported a comparable store sales decrease of 7 percent.

Abercrombie & Fitch Inc. (New Albany, Ohio) saw company net sales decrease 22 percent, while comparable store sales declined 28 percent. By brand, Abercrombie & Fitch’s same-store sales were down 25 percent; youth-oriented abercrombie dropped 28 percent; Hollister Co. declined 32 percent; and Ruehl was down 33 percent.
Value-priced women’s fashion retailer The Cato Corp. (Charlotte, N.C.) says its same-store sales decreased 3 percent.

In the department store sector, Macy's Inc. (Cincinnati) reported same-store sales dropped 9.1 percent in May; net sales decreased 9.5 percent

There were some bright spots, however. Aeropostale (New York), the mall-based specialty retailer of casual and active apparel for young women and men, reported same store sales increased 19 percent.

Ross Stores (Pleasanton, Calif.) also saw same-store sales grow, increasing 4 percent for the quarter. The retailer says dresses and shoes remained the strongest merchandise categories in May, while the Mid-Atlantic and Southeast were the best-performing regions.