Back-to-School Fuels Same-Store Sales in August

       

       

NEW YORK—The back-to-school shopping season proved to be something of a windfall for U.S. retailers’ same-store sales in August.

Among the major chains tracked by HFN, the leaders in the comp-store race were Ross Stores and TJX, both of which posted 8 percent increases in same-store sales. Costco reported a gain of 6 percent (7 percent when including gasoline sales), and Macy’s comparable-store results showed a 5.1 percent gain. Target’s same-store sales rose 4.2 percent, and Kohl’s emerged with a 3.4 percent increase.

The positive checkout results surprised some of the chains. Michael Balmuth, vice chairman and CEO of Ross, said the retailer’s results were ahead of its expectations. “Our ability to deliver a wide array of name-brand bargains for back-to-school shoppers drove healthy traffic to our stores during the month,” Balmuth said.

Terry Lundgren, chairman, president and CEO of Macy’s, said he was pleased with the company’s back-to-school results in what he described as the “millennial customer categories.” Lundgren also cited home furnishings among the departments that performed well in August.

Gregg Steinhafel, chairman, president and CEO of Target, said back-to-school shopping provided a key driver to sales in the second half of the month, “as guests responded to Target’s broad assortment and compelling value for their back-to-school and back-to-college shopping.”

Posted in News, Retail.

Last updated: August 30, 2012