Photo: Delaware State News
Many U.S. retailers December numbers fell short of analyst predictions though a few managed to just marginally surpass them.Macy’s ceo Terry Lundgren said the massive blizzard the day after Christmas, one of the busiest shopping days of the year, kept a lot of people away from the shops. He also said the high unemployment numbers didn’t help either.
- American Eagle: Sales were down by 6% to $499 million compared to $531 million a year ago
- Gap: Net sales stayed at $2.0 billion just as they were for the same period in 2010. December sales were down 3% compared with a 2% increase the year before
- Macy’s: December same-store sales rose 3.9% falling below its Wall Street projection of 4.5%. Total sales for the five week period went up 4.5% to $4.62 billion.
- Kohl’s: December sales for its stores opened for at least one year rose 3.9%. Total sales for the five weeks rose 5.9% to $3.19 billion. Analsysts had expected same-store sales to rise 4.3%.
- Abercrombie & Fitch: Net sales for the five week period were up 26% from the year before coming in at $596.3 million. December comparable store sales increased 15%.
- Urban Outfitters: Net sales were up 15% to $520 million compared to last year, Comparable retail segment net sales increased 5% but comparable store net sales were flat.