New York, NY, March 2, 2006—February sales reports from some of the nation’s major retailers showed a mixed bag, with some showing the affects of winter weather doing the month, after an unusually warm January.
Wal-Mart Stores was among the players reporting higher February sales that were in-line with its previously stated guidance. The company said its same-store sales, rose 3.2% in the four-week period ended Feb. 24. Total sales at the Wal-Mart rose 11.9% over last year to $25 billion.
Target said its February same-store sales rose 3.6%, held back by a heavy snowstorm in the Northeast that curbed demand for spring merchandise. Total sales for the four weeks ended Feb. 25 rose 10.5% to $3.73 billion.
Kohl's reported a February same-store sales increase of 3.4%. The company’s total sales for the four weeks ended Feb. 25 rose 14.9% to $818.6 million.
In the department store segment JC Penney Co., reported February same-store sales that were up 2.3%. The company’s total sales, including Internet and catalog sales, rose 3.7% to $1.3 billion.
Federated Department Stores posted an unexpected rise of 1% in February same-store sales. The company’s total sales were $1.8 billion, a 64% gain from $1.1 billion a year earlier.
Nordstrom Inc., said its same-store sales increased 4.9%, slightly better than the 3.5% gain analysts predicted. Neiman Marcus Group Inc., said its February same-store sales rose 3%. Same-store sales at Dillard's Inc. fell 2%.
Struggling home furnishings retailer Pier 1 Imports said its February same-store sales fell 10.8%. Total sales for the four weeks ended February 25 fell 6.5% to $109.7 million.
High end retailer Saks said its same-store sales decreased 6.4% and total sales decreased 17.2%.
