Macy's, Kohl's post positive comps
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%.