NEW YORK-Boosted in part by an extra week in the calendar, both Kohl’s and Macy’s posted double-digit gains in same-store sales in January.
Kohl’s reported a same-store increase of 13.3 percent, while Macy’s same-store sales climbed 11.7 percent. Citing the extra week, Kohl’s added in a statement that it achieved double-digit same-store gains in sales across all product categories except footwear, whose increase was in the high single digits.
Terry Lundgren, chairman, president and CEO of Macy’s Inc., said the “outstanding month” for both Macy’s and Bloomingdale’s resulted from the company’s decision to flow in more fresh fashion goods in December to better serve post-holiday shoppers.
January also proved a positive month on a comparable-store basis for other major retailers tracked monthly by HFN—if less dramatically so than for Kohl’s and Macy’s. Both Costco and Ross Stores logged same-store pickups of 4 percent. Target’s same-store number was up 3.1 percent, and The TJX Cos. recorded a 3 percent gain across all of its retail divisions.
Gregg Steinhafel, Target’s chairman, president and CEO, said the mass merchant’s January sales were boosted by shoppers’ response to clearance prices on holiday inventory. “Our guests continue to shop with discipline in the face of a slow economic recovery and new pressures, including recent payroll tax increases,” Steinhafel said.
January marks the last month in which both Macy’s and Target will report monthly same-store sales results. Both retailers announced last year that they would cease their monthly reports with the onset of the new fiscal year, which began this month.