Retailers Post Mixed Same-Store Results in November

       

       

NEW YORK–U.S. retailers reported an up-and-down November in terms of same-store sales.

The results the chains tracked by HFN presented were for sales ending on Nov. 26, Black Friday, and thus didn’t include sales for the rest of the Thanksgiving weekend. The department-store channel included comparable-store gains of 4.8 percent and 3 percent by Macy’s and Dillard’s, respectively, and dropoffs of 6.2 percent by Kohl’s and 2 percent by J.C. Penney.

Kohl’s chairman, president and CEO, Kevin Mansell, called the company’s November sales “disappointing” and added that he expects the department-store retailer to benefit from the fact that the majority of its planned incremental marketing investment is taking place in December. J.C. Penney said its sales were affected by its decision to not open until 4 a.m. on Black Friday (other chains were opening their stores at midnight).

The discount channel was led by Costco with a 6 percent same-stores gain (9 percent if one counts gasoline sales), followed by TJX with a 4 percent increase and Target with a 1.8 percent pickup.

Looking ahead, Gregg Steinhafel, Target’s chairman, president and CEO, said, “Our view of December remains the same—we expect a competitive and promotional environment as consumers continue to focus on value.”

Posted in News, Retail.

Last updated: December 1, 2011