New York City Kohl's Corp. said Thursday that its December same-store sales rose 4.7%, beating analysts’ estimates. Total sales for the five weeks ended Jan. 2 rose 8.8% to $3.01 billion. Citing its quarter-to-date performance, the retailer also raised its fourth-quarter earnings forecast.
Kohl’s rival J.C. Penney Co. did not fare as well. J.C. Penney’s same-store sales fell in December, although the decrease was slightly less than expected. The department store chain said same-store sales slid 3.8% during the five-week period ended Jan. 2. Analysts surveyed by Thomson Reuters expected the important performance measure to fall 4%. Overall sales dipped 2.4%.
Executives said men's and women's clothing along with accessories and shoes were among J.C. Penney’s best categories during the month. Meanwhile, sales for home products were the worst.
At Macy's, same-store sales edged up 1% in December, as online sales surged. The company also raised its fourth-quarter earnings guidance.
Total sales for the five weeks ended Jan. 3 edged up less than 1% to $4.43 billion, from $4.4 billion last year.
Analysts surveyed by Thomson Reuters, on average, expected sales in stores open at least one year to rise a slightly smaller 0.8%.
Macy’s said online sales rose 29.4% in December and 19.3% year-to-date. Year-to-date, same-store sales fell 5.8% while total sales fell 6.1% to $23.68 billion.
Saks also did better than expected in December. Its same-store sales rose 9.9%. Analysts, on average, had expected same-store sales to rise 2.8%, according to Thomson Reuters.
In other department store results for December: