Same-Store Sales Harmed by Cool Weather

By Don Hogsett -- Home Textiles Today, 6/6/2005 12:00:00 AM

New York — —

New York — Hobbled by unseasonably cool weather across parts of the country, then pressured further by record-high gas prices, same-store retail sales were choppy and spotty during May as department store sales were largely held in check, and results were mixed even at discounters and off-pricers.

Among low-to-moderate price outlets, Wal-Mart managed a moderate 2.5 percent increase in comps, but was once again outpointed by smaller, feistier Target, whose same-store sales advanced a strong 5.1 percent. But it was tough sledding at ShopKo Stores, where same-store sales dropped off 7.9 percent, and at TJX, down 1 percent. Kohl's managed only a 0.2 percent increase.

Results were mixed as well at the no-frills warehouse outlets, with Costco putting up a 5 percent gain, but BJ's eking out just 0.5 percent.

Among full-price department stores, sales were equally hit and miss. Two unexpected winners were historical laggards, Gottschalks, up a surprising 4.2 percent, and Dillard's up 1.5 percent. Turning in a predictably solid performance, JCPenney department stores were up 3.5 percent.

But elsewhere results were muted. Federated managed a mangy gain of just 0.8 percent, while Saks department stores declined 2.6 percent. Even the tony Saks Fifth Avenue franchise was held largely in check, up just 0.8 percent after riding high in recent months. Still headed south were May Department Stores, down 2.9 percent, and The Bon-Ton Stores, sliding 6.1 percent.

Winners and losers

Same-Store Sales
May Sales for Key Retailers
Five weeks ended May 28^a, (dollar amounts in millions)