Same-Store Sales Weak in November
November 29, 2012,
[caption id="attachment_11264" align="alignleft" width="225"] Costco was among the better performers.[/caption]
NEW YORK-With Hurricane Sandy wreaking havoc and the shift of some holiday sales to online, U.S. retailers tracked monthly by HFN reported tepid same-store results in November.
Among the downers were Kohl's, whose same-store sales plummeted 5.6 percent; Target, off 1 percent; and Macy's, down 0.7 percent. Terry Lundgren, chairman, president and CEO of Macy's, said Sandy's disruption to its business was so great that not even Thanksgiving weekend, which brought the largest sales volume for that period in Macy's history, could offset the damage.
November's same-store gainers were Costco, up 6 percent (with and without gasoline sales); The TJX Cos., with an aggregate 3 percent increase; and Ross Stores with a 2 percent pickup. TJX's CEO, Carol Meyrowitz, said the chains within the company's umbrella benefited from increases in sales in the second half of the month, including "robust" sales during the Thanksgiving week.