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December Retail Sales May Not Be as Bad as Feared
Retailers are announcing December U.S. same-store sales figures Thursday morning, and research firm Retail Metrics had forecast a year-over-year increase of just 0.5% for the month. Of the few stores that continue to report monthly sales figures, December results may be a positive surprise. That would be welcome news after Wednesday's .
The year-long boom in sales of new cars is helping keep shoppers out of the mall and on car dealer lots, according to Retail Metrics. The firm also noted:
[T]hroughout the holiday shopping season many retailers have had a tough go of it, especially in specialty apparel and the department store space. Competition from Amazon, off-pricers like TJX, and fast fashion such as H&M has been intense. Warm weather was another unwelcome problem dumped on their lap. Retailers are facing increased expenditures on IT as they build out their omnichannel platforms to compete with pure play Ecommerce retailers. Staffing costs have risen as well as Wal-Mart, Target and others have raised wages for thousands of sales associates and stock room help.
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Here are results from the stores we track:
Buckle Inc. (BKE) reported same-store sales for December fell 5.4% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 20.3%. Net sales for all stores fell 4.5% and totaled $182.1 million for the month.
Buckle’s shares were inactive in Thursday's premarket having closed at $28.79 on Wednesday, down 3.3% for the day. The 52-week trading range is $28.53 to $56.13.
Costco Wholesale Corp. (COST) reported December same-store sales, including gasoline sales and foreign exchange effects, were up 3% in the United States, down 9% in Canada and down 3% internationally. Globally, same-store sales were up 1% compared with December 2014. Excluding gasoline and currency exchange effects, U.S. sales rose 4%, Canadian sales rose 9% and international sales rose 5%. On the same basis, worldwide same-stores sales in the quarter rose 5%. Net sales for the month totaled $12.45 billion, up 3% year over year. Retail Metrics had projected a same-store sales increase of 0.8% (up 5.4% in the U.S. excluding gasoline sales).
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Costco shares were inactive in Thursday's premarket, having closed at $158.45 on Wednesday. The stock’s 52-week range is $117.03 to $169.73.
L Brands Inc. (LB) said same-store sales for December rose 8% compared with last year's sales. Retail Metrics had estimated an increase of 3.8%. L Brands operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. The largest gain came from the company's Victoria's Secret Direct Sales, up 14% year over year in the month. Net sales rose 9% to $2.415 billion in December.
L Brands’ shares were inactive in Thursday's premarket. Shares closed at $94.64 on Wednesday, within a 52-week range of $75.11 to $101.11.
Stein Mart Inc. (SMRT) reported a 1.8% increase in same-store sales for December, well above the 1.7% decrease estimated by Retail Metrics. Total sales for the month came in at $198.3 million, up 4.7% from a year ago. The company noted that sales were "relatively consistent" across its geographic regions.
Stein Mart’s shares were inactive in Thursday's premarket, having closed at $6.80 on Wednesday, down nearly 9.5% for the day. The stock’s 52-week range is $6.51 to $16.65.
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