5:45 PM New York – Same store sales in January increased better than expected. Comparable sales increased at department stores, discount stores and apparel sales. Macy’s Aeropostale and Gap raised earnings. February sales are expected to increase 2%.
After a year of difficult retail environment and record high unemployment, expectations of sales in January were moderate. Same store sales across retail chains increased 3.3% in the month and even few retailers increased earnings outlook.
The month’s sales are generally driven by the higher discounts to clear inventory and compared to two more important selling seasons of back-to-school and Christmas holiday period.
January same stores sales increase was considerably better than 5.6% decline in the month a year ago according to the data compiled by Thomson Reuters.
Sales at upscale retailers, discount apparel chains and wholesale clubs were ahead of expectations.
Nordstrom sales increased 14%, at Saks gained 7% and at Neiman Marcus added 4.5%. Dillard’s sales declined 5% and J.C. Penney decreased 4.6%.
Sales at BJ’s Wholesale Club increased 8.4% and at Costco increased 8%.
Sales are expected to increase 2% in February by the International Council of Shopping Centers.
Comparable Sales Rise at BJ’s and Costco
BJ''s Wholesale Club, Inc (
BJ) same store sales in January increased 8.4%, including negative impact from sales of gasoline approximately 5.5%. Excluding gasoline sales, merchandise club comparable sales rose 2.9%.
Total sales in the month increased 13.0% from a year ago to $742 million.
For the fourth quarter ended January 30, 2010 comparable club sales increased by 4.6%, including a contribution sales of gasoline of 2.3%.
For the year ended January 30, 2010, comparable club sales decreased by 1.9%, including a negative impact from sales of gasoline of 5.9%.
Fourth quarter total sales increased 9.4% to $2.74 billion from a year ago and fiscal 2010 total sales rose by 1.6% to $9.95 billion.
Excluding sales of gasoline, store traffic increased approximately 5% and the average transaction amount was flat from last year. Sales of food increased 4% on strong sale of perishables. Sales of general merchandise were approximately flat compare to last year.
Costco Wholesale Corp (
COST) reported January net sales increased 10% to $5.62 billion.
Comparable sales in the month in the U.S. locations rose 4% and at international locations increased 25% and across the company rose 8%.
Excluding the gasoline and currency variations, comparable sales were flat in the month in the U.S. and rose 9% at international locations and increased 2% across the company.
Target Corporation (
TGT) net retail sales in January increased 3.6% to $4.29 billion from a prior year month. The comparable sales in January rose 0.5%.
Net sales for the fourth quarter of fiscal 2009 decreased 3.7% to $19.72 billion and the comparable sales increased 0.6%.
Wal-Mart Stores no longer declares monthly same store sales but provides quarterly same store sales data.