July 5th, 2012

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Gap Inc posts flat June comparable sales

Thursday, July 5th, 2012

Clothing and apparel retailer The Gap Inc today (5 July) released details of comparable same store sales and total sales for the month of June 2012 as it announced that they had continued a positive trend in its North American business.

Net sales for the five-week period ended June 30, 2012 increased 2.2 percent to $1.41 billion from $1.38 billion in the corresponding period last year. Comparable sales for June 2012 were flat, compared with a 1 percent increase in the same month last year.

The San Francisco based retailer posted comparable sales gains in all of its North American units, with Gap North America posting 4% growth, compared to a negative growth of 1 percent last year. Meanwhile Banana Republic recorded 5% growth in same store sales, compared to a 3 percent increase in the same month last year, and Old Navy North America recording a 1% increase in comparable store sales, lower than a 2 percent increase in the previous year.

However, internationally the company did not perform as strongly, reporting a 14% comparable sales decline over the month, against a 3% increase in the same period of 2011.

“We’re pleased with our overall sales performance in June, especially the continued positive trend in our North America business,” said Gap Inc chairman and CEO Glenn Murphy.

Year-to-date sales are up 5% on the same period of the prior year to $6bn. Comparable sales increased 3% against a 2% decrease last year.

Saks June Comps Rise 6%

Thursday, July 5th, 2012

Saks Inc. announced that owned sales totaled $274.0 million for the five weeks ended June 30, 2012, 6 percent higher than $258.6 million last year. Comparable store sales grew 6.0% for the month.

For June, the strongest categories included women’s shoes; men’s private brand, tailored clothing, and shoes; and cosmetics and fragrances.

On a quarter-to-date basis, for the two months ended June 30, 2012, owned sales totaled $489.8 million, up 4.9 percent from $467.1 million last year. Comparable store sales increased 5.1% for the two months.

Nordstrom June Comps Up 8.1%

Thursday, July 5th, 2012

Nordstrom, Inc. reported an 8.1 percent growth in same-store sales for the five-week period ended June 30, 2012 compared with last year. Preliminary total retail sales grew 12.6 percent to $1.04 billion from $927 million in the same period a year ago.

Quarter-to-date same-store sales increased 6.8 percent compared with the same period in fiscal 2011. Preliminary quarter-to-date total retail sales reached $1.91 billion, up 11.1 percent from $1.72 billion in the corresponding period last year.

Stage Stores June Comps. Rise 3.3%

Thursday, July 5th, 2012

Stage Stores Inc. reported a 3.3% growth in June comparable-store sales, with total monthly sales growing 5.8% to $141 million from $134 million a year ago.

The company said the comparable store sales improvement for June was broad based, with cosmetics, footwear, home & gifts and men’s categories higher than the company average. Geographically, the Northeast, South Central, comprising Texas, and Southwest regions outperformed.

Stage Stores’ Chief Executive commented, “Desirable merchandise selections and successful sales events contributed to our solid performance for the month.”

Dunelm Group Q4 Like For Like Sales Up 10.4%

Thursday, July 5th, 2012

Dunelm Group plc said total revenues for the fourth quarter grew 21.2% year-over-year to 149.7 million pounds. The company recorded like for like sales growth of 10.4%.

The company noted that the attractiveness of its customer offer – based on deep choice and excellent value – enabled it to deliver robust underlying revenue growth in the final quarter of the financial year. Like-for-like sales growth was exceptionally strong, boosted by the unusually wet weather over much of the quarter which ensured consistently strong footfall into stores. Dunelm estimates that the net benefit to total revenues from the weather conditions was approximately 8 million pounds in the quarter.

Nick Wharton, Chief Executive, commented: ”The final quarter has seen further strong progress throughout the business, with robust like-for-like sales trends. In addition, we have continued to drive growth through new stores and our multi-channel offering, which now represents around 3% of revenue…”

Looking forward, the company’s Board now anticipates that profit before tax for the year will be approximately 96 million pounds, ahead of current consensus expectations. Dunelm estimates that approximately 2.5 million pounds of this outperformance is attributable to the exceptional weather benefit over the second half of the financial year.