Electronics Chains Post Strong December
New York City, Circuit City Stores and Best Buy posted December same-store sales gains of 10.8% and 5.8%, respectively.
Circuit City Stores announced record sales for December. Total sales increased 12.1 % to $1.98 billion from $1.77 billion in December 2004. The company’s consolidated comparable store sales increase of 10.8% was led by an 11.1% increase in its domestic segment comparable store sales.
Best Buy Co. was boosted by late-shopping customers and higher average purchases. The chain said December comp-store sales increased 5.8%, while total sales increased to $5.7 billion, up from $5.1 billion in the same period last year. Sales from the company’s Web site increased by 40%, the company said.
Tuesday Morning Reports Sales for 4Q, Year
Dallas, Tuesday Morning Corp. posted net sales of $335.2 million in its recently completed fourth quarter, up 0.8% from the year before. For the fiscal year, sales increased 3.8% to $931.8 million. Comp-store sales declined 5.3% for the quarter and fell 4.0% for the year.
December Comps Gain 3.2%
New York City, Aflurry of shopping in late December helped retailers post a moderately strong month of sales. According to the International Council of Shopping Centers (ICSC), year-over-year comp-store sales for the industry increased 3.2%. This year’s tally bested December 2004, which showed comp-store-sales growth of 2.7%.
For the two-month holiday period, comps grew 3.5%, much stronger than the 2.3% gain registered in the same two-month period in 2004. For all of 2005, chain-store comps grew 3.7%, just off the pace of the previous year. The world’s largest retailer, Wal-Mart Stores, finished the month with comps of 2.2%, near the low end of its previous guidance, while rival Target Corp. posted a gain of 4.7%. One of the glaring sales disappointments is Gap Inc., which posted a comp-store decline of 9.0% in the month. In January, the ICSC expects same-store sales to increase 3.0% to 3.5%.
Other notable comp-store performances include:
Abercrombie & Fitch, 29.0% gain
Chico’s FAS, 16.4% gain
Costco Wholesale, 7.0% gain
Guess?, 17.5% gain
New York & Co.; 10.9% gain
Sharper Image, 15.0% decline
United Retail, 16.0% gain
Wet Seal, 38.5% gain
Wilsons Leather, 7.7% decline