New York -- Many retailers blamed Hurricane Sandy for weak sales in November, although some companies were buoyed later in the month by a long Thanksgiving weekend.
Eighteen retailers reported that sales in November through last Saturday were up 1.7% compared with the year-ago period, according to the International Council of Shopping Centers. That is below the anticipated forecast for a 4.5% to 5.5% gain.
Among the specialty store retailers that reported November comp results, Limited Brands was a big winner – reported a 5% increase in same-store sales and beating analysts’ expected 3.1% rise. Total sales rose to $922 million from $872.6 million.
Gap Inc. recorded a 3% same-store sales increase, but missed Wall Street’s estimated 3.9% rise. By banner, comps climbed 5% at namesake stores, were up 3% at Banana Republic and edged up just 1% at Old Navy stores.
Buckle surprised analysts with a .1% drop in November same-store sales, after a 2% increase was forecast. Wet Seal, on the other hand, beat Wall Street expectations, declining 5.4% when a 6.8% drop was predicted.
Among other results:
- Cato same-store sales dipped 2%;
- Stage Stores posted a 13.2% rise.