New York, July 8—The nation’s retailers reported mostly positive results for June, Wal-Mart however, reported a disappointing sales performance for the month, falling short of the solid business enjoyed by many other big retail chains.
The world's largest retailer said unseasonably cool weather held sales back, but it is also still struggling with the effects of rising gasoline prices. Wal-Mart Stores said that sales from stores open at least a year, known as same-store sales, rose 2.2 percent in June. Analysts surveyed by Thomson First Call expected 3.6 percent.
Same-store sales are considered the best indicator of a retailer's health.
Wal-Mart also forecast that July same-store sales will be up a modest 2 percent to 4 percent.
Federated Department Stores reported total sales of $1.382 billion for the five weeks ended July 3, 2004, an increase in total sales of 3.4 percent compared to total sales of $1.336 billion in the same period last year. On a same-store basis, Federated's June sales also were up 3.4 percent.
For the year to date, Federated's sales totaled $6.069 billion, up 5.3 percent from total sales of $5.763 billion in the first 22 weeks of 2003. On a same-store basis, Federated's year-to-date sales also were up 5.3 percent.
J.C. Penney Co. said on Thursday its June same-store sales at it department store unit rose 4.8 percent, helped by strong Father's Day sales.
The Plano, Texas-based retailer said total sales at its department stores rose 4.8 percent to $1.26 billion in the five weeks ended July 3. Sales at its Internet arm fell 3.4 percent.
The company had forecast June same department store sales would rise in the low single digits, and catalog/Internet sales would be about flat.
ShopKo Stores Inc. reported a 2.2 percent increase in same-store sales; analysts had projected that it would be unchanged from a year ago. Total sales were up 1.8 percent.
Costco Wholesale Corp. had a same-store sales gain of 6 percent, below the 8 percent analysts estimated. Total sales were up 9 percent.
Nordstrom posted a 5.7 percet increase in same-store sales, lower than the 6.3 percent forecast. Total sales rose 8.5 percent.
