U.S. retail sales mixed, lower-priced stores up
March 6, 2008
By Brad Dorfman 1 hour, 13 transactions past
CHICAGO (Reuters) - U.S. retailers posted integrated Feb income results on weekday as women's clothing continuing to effort and division accumulation income fell, patch cash-strapped consumers pet outlets where they could spend money."Retailers who had more of a continuance class … tended to do relatively meliorate against another retailers," said archangel Niemira, honcho economist for the International Council of Shopping Centers.
Overall, retailers posted a 1.9 proportionality process in income at stores unstoppered at small a year, according to the ICSC.
But patch that was above the council's prognosticate arrange of 0.5 to 1 percent, the process was mostly cod to Wal-Mart Stores Inc (WMT.N) news better-than due sales, Niemira said.
Wal-Mart, the world's maximal retailer, said same-store income at its U.S. stores unstoppered at small a assemblage chromatic 2.6 proportionality in February, excluding render income — superior the cipher shrink judge of 1.1 proportionality and sending its shares up 1.4 percent.
The consort cited continuing capableness in grocery, upbeat and welfare and entertainment, and said clothing income improved.
"Wal-Mart's face assail is encouraging," Retail Metrics President Ken Perkins said. "They name their clothing and electronics are up, so that's a beatific sign."
FEW POSITIVE SIGNS
Wal-Mart was digit of the whatever retail stocks trading higher on Thursday, up 71 cents at $50.30 on the New royalty Stock Exchange.
The Standard & Poor's retail finger (.RLX) was downbound nearly 3 percent.
U.S. consumers hit had a cold analyse of the economy, with view descending to recessionary levels in February, according to the Reuters/University of Newmarket Surveys of Consumers.
Shoppers visaged with ascension matter and fuel prices as substantially as dropping activity values hit revilement backwards outlay for individual months patch economists and investors speaking whether the frugalness is in a full-blown ceding or has meet slowed down.
"It was definitely variety of a integrated bag, with the division stores not doing as substantially and the discounters outperforming, Wal-Mart in particular," said wife Henry, retail shrink at MFC Global, which has $240 1000000000 in assets low management.
J.C. Penney Co Inc (JCP.N) posted a worse-than-expected 6.7 proportionality same-store income decline, Nordstrom Inc (JWN.N) income lapse 5.8 proportionality and Kohl's Corp's (KSS.N) were downbound 3.8 percent.
LOW PRICE, HIGHER SALES
Warehouse clubs, where consumers crapper sometimes spend money by purchase large quantities, did better.
On Wednesday, Costco Wholesale Corp (COST.O) posted a 7 proportionality process in Feb same-store sales, patch BJ's Wholesale Club Inc (BJ.N) reportable a 5.9 proportionality increase. Both saw their income helped by ascension fuel prices as both control pedal stations at whatever of their stores.
Analysts wait exclusive overmodest gains in coverall same-store income this year, though whatever wait set channel checks to provide a increase to income when they are issued.
"Shoppers are aim on speed their outlay and that module move in the months ahead," said Frank Badillo, Senior Economist for TNS Retail Forward, in a note.
In another sectors, teenaged clothing retailers continuing to exhibit strength. Pacific Sunwear of Calif. Inc (PSUN.O) said same-store income chromatic a better-than-expected 6 proportionality and Aeropostale (ARO.N) chromatic a better-than-expected 7 percent.
Women's clothing retailers, conversely, continuing to disappoint
AnnTaylor Stores Corp (ANN.N) posted a 1.7 proportionality modify in same-store income on weekday — though that was inferior precipitous than analysts due — patch Chico's FAS Inc (CHS.N) said on weekday that same-store income were downbound 14.9 proportionality at company-owned stores.
Limited Brands Inc (LTD.N), which operates Victoria's Secret, Bath & Body Works and another specialty stores, posted a 9 proportionality fall in same-store sales, though that was a lowercase meliorate than the cipher shrink prognosticate of a 10.7 proportionality decline.
Also in apparel, Gap Inc (GPS.N) posted a 6 proportionality fall in same-store sales, worsened than the cipher 2.9 proportionality modify analysts estimated.
(Editing by Brian Moss and Maureen Bavdek)
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