Department store players largely strong in July
NEW YORK — Helped by hot weather and clearance sales, many retailers reported solid results in July, a month that can be a tepid lead-up to the back-to-school shopping season.
Some of the strongest showings in the month were in the department store category, as those reporting all showed July gains.
Macy’s led the pack with a 4.1% same-store sales rise. Total sales increased 5.1% to $1.7 billion over the four-week period.
“Despite some challenges from a sluggish macroeconomic environment and a temporary disruption of sales from the remodeling project at our Herald Square flagship store in New York City, the spring season met our expectations,” said Macy’s president and CEO Terry Lundgren.
Kohl’s reported a lesser 1.7% gain, and total sales rose 3.4%. “We are pleased with the improvement in July’s comparable store sales,” said Kevin Mansell, president and CEO.
Other department store July results include:
Nordstrom same-store sales edged up 0.9%;
Saks increased 3.5%;
Bon-Ton Stores rose a slight 0.1%;
Stage Stores gained 5.3%, beating the 2.2% rise expected by Wall Street.