Same-Store Sales Mixed in November for Major Retailers

       

       

NEW YORK–The critical holiday shopping season began with up-and-down same-store sales results for major U.S. retail chains in November.
TJX, Kohl’s, Costco and BJ’s Wholesale Clubs registered same-store sales gains of 8 percent, 3.3 percent, 2 percent and 1 percent, respectively. The Costco increase excluded sales of gasoline—factoring this in, the warehouse club’s comparable-store number was flat last month—while for BJ’s, gas sales had no impact on its slight pickup.
Kevin Mansell, chairman, president and chief executive officer of Kohl’s, said the department-store chain managed a 10 percent increase in transactions per store last month. Mansell also said consumers continued their conservative-spending mode in November, and that the retail environment remained cloudy even with the onset of the holiday shopping period.
Dillard’s, Macy’s, J.C. Penney and Target all reported same-store sales declines in November, with Dillard’s posting a drop of 11 percent, Macy’s 6.1 percent, J.C. Penney 5.9 percent and Target 1.5 percent. In its statement reporting the results, J.C. Penney said sales during the Black Friday weekend offset weak checkouts earlier in the month. Gregg Steinhafel, chairman, president and CEO of Target, said sales were better than expected during the Thanksgiving weekend but were slightly below the chain’s expectations in the beginning of November.
Macy’s said in its statement that it had expected sales to be down year over year last month, and that it had anticipated the shift of some holiday sales to December as a result of its decision to move its Family & Friends event to the first week of December.