Macy’s shines, Kohl’s disappoints in February
NEW YORK — Results were mixed among the department store players in February, as Macy’s turned in a strong performance and Kohl’s missed expectations.
For the month, Macy’s reported a same-store sales gain of 4.6%, beating the 3.5% rise anticipated by Wall Street. Online sales for the operator of Bloomingdale’s and its namesake banner surged 31.3%, boosting the same-store sales percentage advance. Total revenue in February increased 5.5% to $1.86 billion.
"We saw good consumer response to our early spring deliveries in women's apparel, and continued strong trends in accessories, shoes, cosmetics, men's and home, which bodes well for the months ahead," said Terry Lundgren, Macy’s chairman, president and CEO.
Kohl’s Corp., on the other hand, saw same-store sales dip 0.8% after Wall Street predicted a break-even month. Total sales edged up 1.1% in the month.
“February’s sales results were as expected. From a regional perspective, the cold weather regions – Midwest and Northeast - outperformed the company average for the month,” said Kevin Mansell, chairman, president and CEO.
Among the other department stores reporting in February:
Nordstrom same-store sales rose 10.2%, solidly beating Wall Street’s expected 5.6% gain;
Saks rose 6.6%, edging the expected 5.5% rise; and
Bon-Ton Stores inched up 0.7%.