Same-Store Sales Post Positive December
January 7, 2010,
NEW YORK-The nation's major retail chains reported a generally upbeat December in releasing their sales totals for the month.
On the discounter side, Kmart, Target and TJX all finished last month in the black in terms of its same-store sales. Kmart's 5.3 percent gain in same-store sales was part of a statement from Sears Holdings, its parent company, which reported same-store sales for both Kmart and Sears stores for the first time in some time. TJX posted a robust 14 percent comp-store pickup, while Target's same-store count edged up 1.8 percent.
Among the department stores, Kohl's same-store sales rose 4.7 percent, while Macy's reported a gain in comparable store checkouts for the first time in some months, at 1 percent. J.C. Penney, Sears and Dillard's finished December on the negative side of the ledger--with J.C. Penney's same-store sales falling 3.8 percent, Sears reporting a 4.3 percent drop and Dillard's coming in with a decline of 7 percent.
The warehouse clubs also pushed up their merchandise comparable-store sales (excluding sales of gasoline). BJ's Wholesale Club's same-store sales increased 2.7 percent excluding gas, while Costco's comp-store sales rose 2 percent.
Retail executives who commented on their companies' results noted that the holidays helped their results. Gregg Steinhafel, chairman, president and chief executive officer of Target, noted "stronger-than-anticipated" store traffic in Target stores throughout the month.