NEW YORK–Wal-Mart continued to outshine the retail sector in January, including its home business, as department stores posted comp-store sales declines and warehouse clubs, which have been the darling of the sector, weakened during the month.
Overall, retailers saw January sales hindered by clearance merchandise.
Wal-Mart’s total comp-store sales rose 0.5 percent, while archrival Target’s declined 3.3 percent.
Wal-Mart U.S. met or exceeded performance expectations in home, the retailer said, in a statement.
The warehouse clubs each posted declines. Costco’s comp-store sales fell two percent; B.J.’s fell 0.7 percent; while Sam’s Club’s fell 1.5 percent. Macy’s comp-store sales fell 4.5 percent, but online sales were a bright spot, up 15.5 percent in January. Kohl’s comp-store sales sank 13.4 percent, while J.C. Penney’s comp-store sales plunged 16.4 percent.
“As expected, January sales results were impacted negatively by significantly lower seasonal clearance inventory levels,” Kevin Mansell, Kohl’s chief executive officer, said in a statement.