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Cold January for some retailers

New York -- Snowstorms and bitterly cold weather took a bite out of sales for some retailers in January. One of the retailers feeling the chill was Fred’s, which posted a 1.8% decline in January same-store sales.

"The weather was a significant challenge for us in January," said CEO Bruce Efird, who added that it disrupted shopping patterns, but also resulted in “more than 120 store closings during the final week of the month."

The Buckle reported a 6.6% drop. Zumiez reported a 7.6% decline. Stein Mart saw its same-store sales inch down 0.7%.

But a couple of retailers managed to buck the trend. L Brands, formerly Limited Brands, said that its January same-store sales rose 9%. Costco Wholesale Club had a 5% increase, excluding gasoline.

 

© 2014