follow us

Most September Comps Up

Same-store Retail Sales Pushed Unexpectedly Higher

New York — Cheered by lower gas prices and more disposable income, consumers flocked to the malls and released a lot of pent-up demand during September, pushing same-store retail sales unexpectedly higher. The Johnson Redbook Flash Report, which tracks same-store sales at 62 major retailers, rose by 4.0%, easily topping a year-ago gain of 2.8% and a 2.9% increase in August.

The biggest winner by far, with no one else even close, was Kohl's — which clearly hasn't heard that consumers are pulling back elsewhere — where same-store sales jumped up a riveting 16.3%.

With Americans feeling more flush, at least for the moment, they turned their backs on many of the nation's low-cost retailers, and made a beeline for trade-up chains, like Kohl's. Carriage-trade retailer Saks Fifth Ave. pushed its comps up a heady 11.1%, twice the size of the August increase of 5.0%. TJX shot up by 9.0%, far above its 4.0% gain the month before.

JCPenney pushed its comps up by 8.7% following an anemic gain of 0.7% the prior month. Target rose by 6.7%, twice the size of last month's 2.8% increase. And Federated soared by 6.2%, way ahead of the August increase of 3.8%.

But with consumers wanting to spend, and wanting to feel good about where they were spending it, the deep-value players had a tougher time of it. Wal-Mart sales softened somewhat, rising by 1.3% — half of the 2.7% increase a month ago. All three warehouse clubs reported slowing sales: Costco up 4.0% vs. 7.0% last month; Sam's up 1.1% vs. 3.4% in August; and BJ's down by 0.9%, reversing a 2.3% increase in August. Ditto the dollar stores: Dollar General up a skimpy 0.5% vs. last month's jump of 4.8%; and Family Dollar up by 2.2% vs. 4.0% last month.

One retailer that doesn't get much love these days is Pier 1, and same-store sales continued their slide, falling 10.1%. But merchants there can take heart — at least they're outperforming Sharper Image, where same-store sales plunged 21.0%.

Winners and losers

Winners
Kohl's 16.3%
Saks Fifth Ave. 11.1
TJX 9.0
JC Penney Stores 8.7
Target 6.7
Federated 6.2
Ross Stores 6.0
Losers
Pier 1 -10.1%
Jo-Ann -3.6
BJ's -0.9


Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today