FINANCE

Macy’s, Kohl’s have positive January results

BY Katherine Boccaccio

New York — Department store retailers reported strong sales in January as shoppers responded positively to post-holiday clearance events.

Overall, the 20 retailers reporting January comps saw an average rise of 5.1%, according to the International Council of Shopping Centers, which beat the mall trade group’s 3% forecasted rise.

Macy’s reported an 11.7% rise in January same-store sales, as well as a total sales increase of 34.6% to $1.799 billion. “Simply put, January was an outstanding month for Macy’s and Bloomingdale’s,” said Terry Lundgren, president and CEO. “Clearly, our strategies are resonating with customers as they shop in our stores, online and via mobile.”

For fiscal 2012 as a whole, Macy’s sales totaled $27.686 billion, up 4.9% from $26.405 billion in fiscal 2011. On a same-store basis, Macy’s fiscal 2012 sales were up 3.7%.

Kohl’s also posted strong results in January. Same-store sales increased 13.3%, benefiting from an extra week, as did all retailers.

“Our January performance allowed us to accomplish our goal of clearing seasonal merchandise and we are happy with the balance and strength of our inventory across regions and categories as we enter fiscal 2013,” said Kevin Mansell, president and CEO, Kohl’s Corp.

Nordstrom reported an 11.4% rise in January same-store sales, and Bon-Ton dipped 0.4%.

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FINANCE

Discount sector posts strong January showing

BY Katherine Boccaccio

New York — There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

Target reported a same-store sales rise of 3.1%, topping Wall Street expectations. Total sales surged 29.6% to $5.97 billion in January.

“January comparable-store sales were in line with our expectations as guests responded to clearance prices on holiday inventory," said Gregg Steinhafel, president and CEO, Target Corp. "Our guests continue to shop with discipline in the face of a slow economic recovery and new pressures, including recent payroll tax increases. As a result, we remain focused on providing unbeatable value combined with a superior guest experience in both our stores and digital channels.”

Warehouse club operator Costco posted a 4% same-store sales rise in January and a 7% total sales gain to $9.35 billion.

TJX Cos. also showed its muscle in January, reporting a 3% rise in same-store sales and upping its fourth-quarter and full-year guidance.

Among the other discounters that reported January comps:

  • Ross Dress for Less rose 4%;
  • SteinMart increased 4.6%;
  • Fred’s increased a hefty 28.6%; and
  • Alco posted a 21.4% rise with fuel, but dipped 1% without.
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OPERATIONS

Survey: Majority of shoppers to spend up to $100 on Valentine’s Day gifts

BY Katherine Boccaccio

Los Angeles — Survey results released Thursday by PriceGrabber found that 62% of consumers plan to spend as much as $100 on gifts for Valentine’s Day, down from 68% in 2012. However, 36% plan to spend more than $100 compared with 28% last year.

According to the survey, when consumers who plan to celebrate Valentine’s Day were asked about their spending habits compared with last year, 52% indicated they plan to spend the same amount as in 2012. Twenty-six percent will spend more, 17% will spend less, and 5% will not purchase a gift this year. PriceGrabber found that the economic climate continues to be a relevant factor in shoppers’ mindsets, with 55% indicating the economy will have an effect on their Valentine’s Day purchasing decisions in 2013.

When consumers were asked to select all of the ways in which they plan to purchase Valentine’s Day gifts, 69% indicated they would buy gifts from a store, up from 54% in 2012. Fifty-six percent of consumers said they would purchase gifts online, a significant increase from 34% last year. This was followed by 5% of shoppers who indicated a purchase via electronic tablet device, compared with 1% in 2012; and 4% cited a purchase using a mobile phone, a slight increase from 2% last year.

"Consumers continue to shop and conduct product research in advance of making purchases in order to find the best pricing on products,” said Rojeh Avanesian, VP marketing and analytics, PriceGrabber.com. “We expect this trend to continue as shoppers hit the stores and go online to make their Valentine’s Day gift purchases this year."

When consumers who plan to celebrate Valentine’s Day were asked when they plan to purchase their gifts, 43% said they will do so one week in advance. Twenty-five percent of shoppers will purchase gifts two weeks prior to Valentine’s Day, 22% will shop within 48 hours of the gift-giving day, and 10% will shop three weeks prior.

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A.Brain says:
Feb-07-2013 07:11 pm

Very interesting! It's
Very interesting! It's absolutely great! Keep posting.research proposal help

A.Brain says:
Feb-07-2013 07:11 pm

Very interesting! It's absolutely great! Keep posting.research proposal help

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Consumer confidence is high. Is that reflected in your stores’ revenues?

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