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Retailers Post Strong Sales, Discounters Lead The Way
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The biggest surprise, so far, has come from the Buckle [BKE
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], which reported a 28.9 percent gain in same-store sales compared with a 21.0 percent average analyst estimate.
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AP |
Buckle's competitor, Pacific Sunwear [PSUN
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], also reported better-than-expected same-store sales with an increase of 3 percent.
Other teen and mall-based apparel retailers did not fare so well.
Abercrombie & Fitch [ANF
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] suffered worse-than-expected sales with a decline of 3 percent, Wet Seal [WTSLA
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] felt a loss with sales dropping 2.9 percent and Gap's [GPS
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] same-store sales fell 7 percent, which was actually less than Wall Street's prediction of a 11.6 percent decrease.
American Eagle Outfitters [AEO
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] was one of the worst reported with declines exceeding analysts' estimates of a drop of 8.9 percent, with an actual decrease of 11 percent.
Some of the weakest results, however, have come from women's apparel retailers, who continue to struggle.
Chico's FAS [CHS
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] turned in another weak performance. Their sales fell 12.9 percent, but that was slightly narrower than the 14.2 percent sales decline predicted by analysts.
Limited [LTD
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] sales also fell 9.0 percent, wider than 7.4 percent analysts were expecting.
Department stores that experienced a decline in sales include J.C. Penney [JCP
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], which experienced a drop of 2.4 percent, and Dillard's [DDS
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] which had a 5 percent decrease in same-store sales.
Kohl's [KSS
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] department store, however, felt a boost with same-store sales rising to 2.3 percent, surpassing Thomson Reuters estimates of an increase of 0.6 percent.
Sales slid at the upscale department store Nordstrom's [JWN
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] meeting analyst's expectations of a decline of 18.6 percent in same-store sales.
Nordstrom also cautioned that second quarter earnings may fall short of their forecast and blamed the decrease on higher markdowns and on moving their spring clearance to May.
Saks [SKS
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], a competitor of Nordstrom's, also was a disappointment against analysts' estimates of a 6.5 percent gain compared to their actual increase of only 1.9 percent.
-Reuters & AP contributed to this report.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
