New York, June 7, 2007--The nation’s retailers for the most part reported an improvement in May results, verses very soft results during April.
May sales were at the high end' of the International Council of Shopping Centers' forecast for an increase of 2% to 2.5%t, it said June 5. Same-store sales are an industry benchmark because they exclude results from new or closed stores.
Wal-Mart Stores same-store sales rose 1.1%, excluding fuel, or 1.3% including fuel, at the low end of its forecast for a 1% to 2% advance.
Target reported same-store sales that were up 5.8%, in line with internal forecasts and analyst expectations. The company’s sales increased 10.1% to $4.33 billion. It said it June same-store sales should rise between 3% and 5%. Analysts had forecast same-store sales growth of 5% to 7%..
Costco sales at stores open at least one year rose 7% vs. analyst estimates of 5.4%. Total sales rose 11% to $5.14 billion. Analysts were looking for an increase of 5.7%
Macy's same-store sales dropped 3.3% and the company’s total sales fell 2.3% to $1.98 billion. Analysts predicted an increase of 2.8% in same-store sales. The company said it expected to improve sales trends in June and July." It forecast a same-store sales decline of a negative 2% to 0% change in June.
J.C. Penney said it same-store sales were off 2%. Total sales increased 0.3% to $1.2 billion. The company said it expects June same-store sales gains in the low single-digits. Analysts projected a gain of 0.1%.
Kohl's reported a same-store sales increase of 10.5% and a total sales increase of 19% to $1.19 billion. May results, it said, were driven by broad-based strength, but it expects a low-single-digit drop in June due to a calendar shift.
Same-store sales at Saks spiked 37.5%, while the company’s total sales increased 39.4% to $248.9 million.
Nordstrom same-store sales were up 6.3%. the Company’s total sales gained 6.1% to $638 million.
