New York, NY, Jun. 3--Some of the nation’s top retailers this morning released results for May, Wal-Mart reported a 5.9% increase in May same-store sales.
Net sales for the four weeks ended May 28 rose 13% to $21.425 billion from $18.987 billion a year earlier, the Bentonville, AR based retailer said.
For the 17 weeks ended May 28, Wal-Mart said its same-store sales rose 5.7%. Net sales rose 12% to $87.483 billion from $77.259 billion.
The flagship Wal-Mart division's sales for the four-week period were $14.388 billion, up 12% from $12.886 billion. The division's sales for the 17 weeks rose 12% to $58.718 billion from $52.479 billion.
Sam's Club sales for the four-week period were $2.935 billion, up 13% over sales of $2.599 billion in the same four-week period in the prior year. Sam's Club sales for the 17 weeks of $11.734 billion were up 11% from $10.615 billion.
J.C. Penney Co. reported higher than expected May sales at department stores open at least a year, but maintained its quarterly earnings outlook, citing concerns about higher energy prices.
Same-department store sales rose 9.1%, helped by strong sales in basics and fashion merchandise. The company had forecast May same-store sales would rise in the low single digits.
For June, J.C. Penney expects same-department store sales to rise in the low single digits and catalog/Internet sales to be about flat.
The company said there are concerns over the impact that higher energy prices and other external issues may have on the consumer. As a result, it is maintaining its earnings outlook of about six cents per share for the second quarter compared with a three cent loss in last year's period.
The Plano, TX based retailer, which recently agreed to sell its Eckerd drugstore chain, said total sales at its department stores rose 7.6% to $1.22 billion in the four weeks ended May 29. Sales at its catalog/Internet arm were flat.
Federated Department Stores, reported total sales of $1.172 billion for the four weeks ended May 29, an increase in total sales of 3.3% compared to total sales of $1.136 billion in the same period last year. On a same-store basis, Federated's May sales were up 2.9%.
For the year to date, Federated's sales totaled $4.689 billion, up 5.9% from total sales of $4.427 billion in the first 17 weeks of 2003. On a same-store basis, Federated's year-to-date sales also were up 5.9%.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said the company was pleased with the strength of its May sales, which exceeded expectations. Federated had projected same-store sales that were relatively flat in May, reflecting a shift of sales into June because of a later Memorial Day weekend this year.
Looking ahead, Lundgren said the company is raising its second quarter sales guidance. The company now expects same-store sales to be up 4% to 5% in the 13-week period of May through July, compared to its prior guidance of up 2% to 4%. For the month of June, Lundgren said Federated is anticipating a 4% to 5% same-store sales increase.
