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Same-Store Sales Harmed by Cool Weather

Don Hogsett -- Home Textiles Today, June 6, 2005

New York — Hobbled by unseasonably cool weather across parts of the country, then pressured further by record-high gas prices, same-store retail sales were choppy and spotty during May as department store sales were largely held in check, and results were mixed even at discounters and off-pricers.

Among low-to-moderate price outlets, Wal-Mart managed a moderate 2.5 percent increase in comps, but was once again outpointed by smaller, feistier Target, whose same-store sales advanced a strong 5.1 percent. But it was tough sledding at ShopKo Stores, where same-store sales dropped off 7.9 percent, and at TJX, down 1 percent. Kohl's managed only a 0.2 percent increase.

Results were mixed as well at the no-frills warehouse outlets, with Costco putting up a 5 percent gain, but BJ's eking out just 0.5 percent.

Among full-price department stores, sales were equally hit and miss. Two unexpected winners were historical laggards, Gottschalks, up a surprising 4.2 percent, and Dillard's up 1.5 percent. Turning in a predictably solid performance, JCPenney department stores were up 3.5 percent.

But elsewhere results were muted. Federated managed a mangy gain of just 0.8 percent, while Saks department stores declined 2.6 percent. Even the tony Saks Fifth Avenue franchise was held largely in check, up just 0.8 percent after riding high in recent months. Still headed south were May Department Stores, down 2.9 percent, and The Bon-Ton Stores, sliding 6.1 percent.

Winners and losers

Winners
Ross Stores +7.0%
Target 5.1
Costco 5.0
Dollar General 4.3
Gottschalks 4.2
Losers
Hancock Fabrics -8.4%
ShopKo Stores -7.9
Pier 1 Imports -7.7
Value City -6.7
The Bon-Ton -6.1


Same-Store Sales
May Sales for Key Retailers
Five weeks ended May 28a, (dollar amounts in millions)

2005 Sales 2004 Sales Total % chg. Same-store % chg.
a. Reporting periods vary from store to store.
b. For the 39 weeks year to date.
c. For the 13 weeks year to date.
BJ's Wholesale Club $603.4 $576.4 4.7% 0.5%
The Bon-Ton Stores 89.0 95.1 (6.5) (6.1)
Costco 4,110.0 3,800.0 8.2 5.0
Dillard Dept. Stores 519.0 511.4 1.5 1.5
Dollar General 640.6 568.2 12.8 4.3
Family Dollar 442.5 411.5 7.5 0.2
Federated 1,191.0 1,182.0 0.7 0.8
Gottschalks 47.4 45.7 3.7 4.2
Hancock Fabrics 25.9 28.0 (7.5) (8.4)
JCPenney 1,290.0 1,224.0 5.4 NA
Dept. Stores 1,097.0 1,045.0 5.0 3.5
Catalog/e-commerce 193.0 179.0 7.8 NA
Jo-Ann Stores 114.6 110.9 3.3 2.0
Kohl's Corp. 899.1 815.8 10.2 0.2
May Dept. Stores 1,119.3 977.8 14.5 (2.9)
Pier 1 Imports 130.9 133.6 (2.0) (7.7)
Retail Ventures 228.7 220.5 3.7 (3.2)
Value City Department Stores 97.3 105.0 (7.4) (6.7)
Ross Stores 370.0 319.0 16.0 7.0
Saks Inc. 419.6 431.3 (2.7) (1.2)
Saks Fifth Avenue Stores 178.9 181.3 (1.4) 0.8
Dept. Stores 240.7 250.0 (3.7) (2.6)
ShopKo 235.1 251.9 (6.7) (7.2)
ShopKo Stores 170.6 NA (7.7) (7.9)
Pamida 64.5 NA (3.8) (5.0)
Stein Mart 117.9 114.8 2.6 0.4
Target Corp. 3,500.0 3,123.0 12.1 5.1
TJX Cos. 1,200.0 1,100.0 5.0 (1.0)
Wal-Mart Stores Inc. 23,421.0 21,425.0 9.3 2.5
Wal-Mart Stores 15,697.0 14,388.0 9.1 2.7
Sam's Club 3,064.0 2,935.0 4.4 1.6
YTD Sales for Major Retailers
Seventeen weeks year to date
BJ's Wholesale Club $2,372.3 $2,187.4 8.5% 4.4%
The Bon-Ton Stores 351.5 360.2 (2.4) (2.1)
Costcob 38,450.0 35,150.0 10.0 7.0
Dillard Dept. Stores 2,322.0 2,365.8 (1.9) (1.9)
Dollar General 2,600.0 2,300.0 13.1 4.8
Family Dollarc 1,428.0 1,310.0 9.0 1.3
Federated 4,831.0 4,732.0 2.1 2.1
Gottschalks 191.5 190.2 0.7 0.6
Hancock Fabrics 123.7 133.1 (7.1) (7.2)
JCPenney 5,482.0 5,257.0 4.3 NA
JCPenney Stores 4,630.0 4,453.0 4.0 3.1
Catalog/e-commerce 852.0 804.0 6.0 NA
Jo-Ann Stores 535.3 515.8 3.8 0.5
Kohl's Corp. 3,641.9 3,196.0 14.0 2.8
May Dept. Stores 4,488.6 3,940.7 13.9 (4.5)
Pier 1 Importsc 405.7 432.0 (6.1) (12.0)
Retail Ventures 908.7 866.8 4.8 (2.7)
Value City Department Stores 408.7 445.0 (8.2) (7.7)
Ross Stores 1,494.0 1,311.0 14.0 4.0
Saks Inc. 1,959.1 1,959.6 (0.0) 1.3
Saks Fifth Avenue Stores 878.0 855.9 2.6 4.5
Dept. Stores 1,081.1 1,103.7 (2.0) (1.3)
ShopKo 938.4 NA (4.9) (5.4)
ShopKo Stores 688.5 NA (6.7) (6.9)
Pamida 249.9 NA 0.3 (1.1)
Stein Mart 498.5 479.4 4.0 2.5
Target Corp. 14,671.0 NA 12.6 6.0
TJX Cos. 4,800.0 4,500.0 8.0 2.0
Wal-Mart Stores Inc. 96,067.0 87,483.0 9.8 2.9
Wal-Mart Stores 64,343.0 58,718.0 9.6 2.9
Sam's Clubs 12,393.0 11,734.0 5.6 3.1


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