Off-pricers keep up momentum through January
February 2, 2012,
New York - TJX Cos. and Ross Stores were among the strongest performers last month, while Costco led the pack with an 8.0% comp gain.
TJX reported strong same-store sales growth in every division of the company: Marmaxx up 7.0%; Home Goods up 10.0%; and the Canadian division (Winners and Home Sense) up 4.0%.
Home was not among the categories cited as a top performer at Ross.
Target's 4.3% comp gain got some assistance from low single digit increases in the home department, where housewares showed the strongest performance and domestics were weakest.
Macy's 2.4% comp and its 2.0% sales increase made January the department store's "smallest-volume month of the year," and results were "weaker than anticipated," said Terry Lundgren, chairman, president and ceo.
Online sales for macys.com and bloomingdales.com combined were up 38.7% in January, 40.0% in the fourth quarter and 39.6% for fiscal 2011.
The modest 0.6% comp coupled with a 2.4% sales increase reported by Kohls in January were in-line with expectations, said chairman, president and ceo Kevin Mansell. Home outperformed the company average, he said.
Better news came from its online business, he continued, as Kohl's achieved its goal of $1 billion in e-commerce revenues in fiscal 2011.
Rival JCPenney announced last week that it will no longer report monthly results.
Other comps reported today included:
- Dillard's: flat;
- Stein Mart: down 3.9%;
- The Bon-Ton Stores: down 3.5%;
- Duckwall-Alco: down 1.1%;
- Fred's Inc.: down 0.8%.