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U.S. Same-Store Sales Rose 0.5% Last Week

That report of a week-over-week sales gain comes from the International Council of Shopping Centers and Goldman Sachs, which today released seasonally adjusted data on U.S. chain store retail sales. The ICSC expects same-store sales for the full month of July to be down by 5.5% from the prior year.  Reuters July 21, 2009

June a Washout for Most Retailers

Wet, chilly weather in much of the country — certainly the northeast — in June contributed to another poor showing for same-store sales, which are expected to be down by 4.8%, the same rate of decline as in May, when retailers report results tomorrow.  The drop would mark the 10th straight month of same-store-sales declines, the longest since Thomson Reuters began collecting the data in 2000.  Dow Jones Newswires via The Wall Street Journal July 7, 2009

Saks Earnings the Latest Sign of Trouble for Luxury Retail

“The retailer, which operates Saks Fifth Avenue, said Wednesday that it lost $98.75 million, or 72 cents a share in the quarter ended Jan. 31. That compared with a profit of $39.47 million, or 26 cents a share, in the period a year ago.”  Same-store sales dropped 15 percent in the fourth quarter compared to the year-ago period.  Earnings season also brought a sign of trouble at the discount end of retail.  TJX Companies, which operates T.J. Maxx and other discount stores, reported a drop in net income to $250.7 million, or 58 cents a share, from $301.1 million, or 66 cents a share, a year earlier.  The New York Times Feb. 25, 2009

Retailers Confirm Weak Sales with 4Q and Full-Year Earnings Reports

Macy’s, Home Depot, Target are among the American retailers reporting steep profit declines, amidst what Macy’s president and chief executive, Terry J. Lundgren, characterized as, “the worst economic environment of our generation.”  The New York Times Feb. 24, 2009

Same-Store Sales at Most Retailers Drop in January

Retail sales fell 1.8 percent in January, according to Retail Metrics, a research firm Factoring out Wal-Mart’s trend-bucking 2.1 percent increase, the industry-wide sales decline would have been 5.6 percent.  Department stores and mall retailers fared especially badly.  The New York Times Feb. 5, 2009

Tags: retail sales, same store sales, Wal-Mart

The NYT Asks: Is Our Love Affair with the Mall Over?

Amusement Park at the Mall of America in suburban Minneapolis - St. Paul

Reporters make a pilgramige to the mother of all malls — MOA in Bloomington, Minnesota — to ask shoppers if our 50-year-old relationship with malls is on the rocks.  The Times reporters talked to retail tenants, who aren’t buying mall management’s claim that 2008 sales were up two percent over the prior year.  They report significant sales declines and point to discount signage throughout the mall’s four concourses.  Is it possible that the concept of shopping-as-entertainment is really on the decline?  For more on troubles afflicting malls, you might want to check out DeadMalls.com.  The New York Times Jan. 31, 2009

Macy’s to Close 11 Stores in 9 States

In the wake of weak holiday sales, Macy’s today announced plans to close eleven underperforming stores in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis and other locations.  Clearance sales at the stores begin next week.  AP via Yahoo! Finance Jan. 8, 2008

No Xmas Miracle; Retailers Report Dismal Holiday Sales

Retail sales fell 2.2 percent for the November/December holiday shopping season, the biggest decline in almost 30 tears, according to the International Council of Shopping Centers.  The 1.7% drop in December sales came on the heels of a 2.7 percent decline during the previous month, as consumers fretted about tightened budgets and job insecurity.  Luxury department stores like Neiman Marcus, Bergdorf Goodman and Nordstrom, plus many non-anchor, mall-based retailers experienced double digit sales declines.  The New York Times Jan. 8, 2009

November Retail Sales Figures Weakest in 35 Years

“The International Council of Shopping Centers … described November’s figures as the weakest in more than 35 years.  Declines were recorded in every retail segment the group tracks, with the biggest coming from department stores…” where sales were down 13.3 percent compared with November a year ago, and specialty apparel retailers, where sales were down 10.4 percent.”  Same store sales at chains that did not make use of unprecedented discounting got hammered.  The New York Times Dec. 5, 2008

Layaway Makes a Comeback

Thanks to the credit crunch and consumers’ growing reluctance to take on additional debt, the depression-era, retail innovation of layaway is making at least a mini comeback.  Kmart is even highlighting the service in its Holiday advertising campaign.  The Wall Street Journal Oct. 22, 2008  Paid subscription may be required.