Nov-05-2009Kohl's October sales comparison rises 1.4 percent
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CONTENTS:SOURCESFIND OUT MORE ON THIS SUBJECTNEW YORK — The nation's retailers are reporting mixed sales results for October. Shoppers, enticed by cooler weather and holiday discounts, opened their wallets a bit more but were still restrained from splurging on apparel amid tight credit and a weak job market. As merchants report their figures Thursday, Costco Wholesale Corp.' s sales at stores open at least a year rose 5 percent.
[1] NEW YORK — Consumers, enticed by cooler weather and an improving economy, spent a little more in October, handing the retail industry its second consecutive monthly sales gain after more than a year of declines. Even affluent shoppers, who had been tight with their purse strings since the financial meltdown ballooned last year, spent more for designer duds. As merchants announced their figures Thursday, the results showed that shoppers still were not splurging, restrained by tight credit and a weak job market.
[2] Early holiday discounts also may have drawn shoppers to get a head start on Christmas buying, Perkins said. Those with money are now becoming a little more willing to spend it, soothed by improving signs in housing and the stock market. Retail sales figures are mainly starting to look better because they are being compared with the free fall in spending a year ago. A number of stores, including Gap and teen merchant Aeoropostale Inc., raised their profit outlooks, as they slashed inventories to respond to reduced demand. BMO Capital Markets analyst John Morris said many stores have reached a point where they have "gotten too good." "They planned so conservatively that they ran out of sales goods," hurting sales at the end of the month, Morris said. The big question, analysts wonder, is whether shoppers will be motivated to buy holiday goods at full price knowing that if they wait too long, that coveted item may no longer be on the shelves. Or they could settle for a second-rate alternative that's discounted.
[2] The warehouse club operator's results narrowly beat the 4.7 percent increase analysts surveyed by Thomson Reuters predicted. Sales at stores open at least a year are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.
[3] Total sales for the month rose 3.5 percent to $764.7 million. Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones. BJ's said they would have risen 3.7 percent, excluding the impact of lower gasoline sales.
[4] NATICK, MASS. -- Discount retailer BJ's Wholesale Club Inc. said Thursday its sales at stores open at least a year fell 1.1 percent in October, citing a decline in gasoline sales.
[4] Costco Wholesale Corp. said Thursday that sales at stores open at least a year climbed 5 percent in October, helped by strengthening foreign currencies.
[3] Department-store operator Kohl's Corp. said Thursday that sales in stores open at least one year rose 1.4 percent in October, a smaller rise than analysts predicted.
[5] Excluding stronger foreign currencies and lower gas prices, sales at stores open at least a year rose 4 percent.
[3] According to the International Council of Shopping Centers-Goldman Sachs tally, sales at stores opened at least a year rose 2.1 percent, beating estimates for a 1 percent gain. That followed a surprising 0.6 percent increase in September.
[6] Sales at locations open at least a year rose 5 percent, including a 17 percent increase at international outlets, Issaquah, Washington-based Costco said today in a statement.
[7] Costco Wholesale Corporation ("Costco") (NASDAQ: COST) today reported net sales of $5.68 billion for the month of October, the four weeks ended November 1, 2009, an increase of seven percent from $5.30 billion in the same four-week period last year. For the first nine weeks of its reporting period ended November 1, 2009, the Company reported net sales of $12.53 billion, an increase of five percent from $11.97 billion during the similar period last year.
[8] Total sales for October were $5.7 billion, a 7% gain from $5.3 billion in the same period last year. Foreign exchange rates were the big reason for the sales increase, showing their first positive benefit in 14 months, as overseas currencies strengthened against the U.S. dollar. Weaker currencies were hurting returns from the company's international sales because they translated back into fewer dollars.
[9] For the company's third quarter, ended October 31, total sales increased by 2 percent from $2.4 to $2.45 billion and same store sales decreased by 2.5 percent, which the company also attributed to falling gas prices.
[10] For the third quarter ended Oct. 31, total sales rose 2 percent to $2.5 billion, matching analysts' expectations.
[4] Net sales in the four weeks ended Nov. 1 gained 7.2 percent to $5.7 billion from $5.3 billion in the same period a year ago.
[7] Monthly sales grew 7 percent to $5.68 billion for the period ended Nov. 1.
[3] 
The wholesale warehouse club reported sales at stores open a year or more in October grew 5% compared with the same period last year, their biggest monthly advance since September 2008. [9] Sales at stores open at least a year are considered a key indicator of a retailer's health. October's reading excludes results from Wal-Mart Stores Inc., the world's largest retailer, which stopped issuing monthly sales reports earlier this year.
[2] Wal-Mart Stores Inc., the world's largest retailer, stopped reporting sales at stores opened at least a year on a month basis, after released April results. Many apparel chains are starting to see their fortunes improve as shoppers treat themselves a little more.
[6] According to a
Thomson Reuters survey, eight retailers posted results that beat Wall Street estimates. Five others missed their sales forecasts. Among the winners were Costco, whose club store sales rose 5%, while the clothier The Gap, boosted by its discount Old Navy outlets, posted a 4% gain.
[11] It wasn't exactly a spending spree, but consumers spurred by early holiday discounts and a gradually improving economy helped push many retailers to better-than-expected sales for the month.
[11] Costco's October same-store sales declined 1 percent a year ago as consumers pared spending and a stronger U.S. currency eroded international revenue.
[7] Costco Wholesale Corp., the biggest U.S. warehouse club, said October comparable-store sales climbed as a weaker dollar boosted international revenue.
[7] International same-store-sales sales rose 17% last month, while U.S. sales advanced by 2%.
[9] Among department stores, Macy's Inc. posted a 0.8 percent decline in sales at stores open at least a year. [6] The company also reported that same store sales for the month decreased by 1.1 percent, which it attributed to a 4.8 percent drop in gasoline sales.
[10] The company reported net sales of $5.68 billion for the month of October.
[12] Gap Inc., boosted by surging sales at Old Navy, reported a 4 percent gain in October.
[6] Nordstrom enjoyed a 6.5 percent gain, and Saks posted a 0.7 percent sales gain. Saks described business as still "weak," but several categories like women's designer sportswear, outerwear and jewelry all showed relative strength, along with its online and Off 5th businesses. AP Writer Christopher S. Rugaber contributed to this report in Washington.
[2] Saks posted a 0.7 percent sales gain, much better than the 3.6 percent drop that Wall Street had expected.
[6] Nineteen analysts surveyed by Retail Metrics in Swampscott, Massachusetts, estimated, on average, a gain of 4.2 percent in same-store sales.
[7] J.C. Penney Co. had a 4.5 percent sales drop, worse than the 2.3 percent decline that analysts anticipated.
[6] Target Corp. posted a 0.2 percent decline in October; analysts had expected results to be unchanged from a year ago.
[6] The average transaction price turned slightly positive for the first time since September 2008, and customer traffic increased, Elliott said. Costco was still impacted by lower gasoline prices at its pumps compared with a year ago, and the same situation continues to weigh on food and consumables. Overall, though, "We believe that these favorable trends will continue to strengthen into 2010 as Costco exits arguably one of the most difficult operating environments in the company's history," said Charles Grom, retail analyst at J.P. Morgan Securities in a report. Grom is maintaining his overweight rating.
[9] The Company plans to open an additional five new warehouses (including the relocation of one warehouse to a larger and better-located facility), prior to the end of calendar 2009. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), geopolitical conditions and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission.
[8] The improving figures and tone of the reports all pointed to a sales momentum, encouraging signs as the industry heads into the holiday shopping season. [6] The biggest surprise were improving sales at luxury retailers like Saks Inc., and Nordstrom Inc.
[2] The retailer said that sales of necessities like health care products rose, but electronics and sporting goods sales were weaker.
[6] Excluding gasoline sales, same store merchandise sales increased by 3.7 percent.
[10] Limited Brands Inc., which operates Victoria's Secret and Bath & Body Works, reported a bigger-than-expected sales drop of 4 percent.
[6] Costco operates 562 stores in North America, Asia and the U.K. The shares climbed $1.16, or 2 percent, to $58.81 yesterday on the Nasdaq Stock Market. They have gained 12 percent this year.
[7] Among the bright spots were Costco Wholesale Corp.; TJX Cos., which operates T.J. Maxx and Marshalls, and Gap Inc., all of which reported solid gains for October.
[6] Nordstrom enjoyed a 6.5 percent gain; analysts had estimated a more modest 3.0 percent increase. [6] Discretionary, or non-food sales, continued to gain strength, with all categories up from a year ago, and many posting double digit percentage gains.
[9] The strengthening of foreign currencies relative to the U.S. dollar had a positive impact on October's reported comparable sales, which is in contrast to the previous fourteen months, during which time such impact had been negative.
[8] Children's Place Retail Stores, teen fashion outlet Wet Seal and Stage Stores, an apparel and accessory retailer, all reported declines.
[11] Analysts still have plenty of concern about the fragility of American consumers who continue to grapple with tight credit and weak employment. [6] SOURCES1.
The Associated Press: AP Top News at 8:22 a.m. EST2.
The Associated Press: October sales offer relief to merchants3.
Costco key sales figure rises 5 percent in October - BusinessWeek4.
BJ's Wholesale Club reports Oct. sales comparison falls 1.1 percent on lower gasoline sales | San Francisco Examiner5.
Kohl's October sales comparison rises 1.4 percent - BusinessWeek6.
The Associated Press: October sales offer relief to merchants7.
Daily Herald | Costco comparable-store sales rise 5 percent on weak dollar8.
Costco Wholesale Corporation Reports October Sales Results9.
Costcos Oct. Sales Beat Projections On Developing Tailwinds10.
BJ'''s October Sales Rise Despite Falling Gas Prices | Worcester Business Journal11.
Retailers Had A Pretty Good October; Good Sign For The Holidays? - The Two-Way - Breaking News, Analysis Blog : NPR12.
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