Holiday sales slump for most major retailers - Denver Business Journal:

kittredgeihuhyla1951.blogspot.com
Same-stores sales were down nationwidre at several companies that reported monthlyh or quarterlysales Thursday. • Same-store sales at Nordstro Inc. Nordstrom_Inc. _2F5517EAD13F442B909DF789EED3220A.html"> stores open a year or more droppedf 11.4 percent last month but that was better than what analysts The Seattle-based retailer (NYSE: JWN) reported salew of $468 million for the which compares with salea of $486 million a year Analysts expected a comparable-store sales of drop of between 13 and 14 percenrt for January, compared with January 2008. “The level of markdownse during the month was much greatef thanusual ...
as (Nordstrom) made appropriate adjustmentd during the month to bettefr align inventories prior to the close ofthe company’s fiscal fourth quarter,” said analysyt Dan Geiman of McAdamss Wright Ragen of Seattle, in a note to For the fourth quarter, Nordstromk said sales dropped 8.5 percent to $2.3 billionm from $2.51 billion in 2007. Same-storre sales dropped 12.5 percent in the quarter compared with ayear earlier. For fiscal 2008, salees dropped to $8.27 billion from $8.84 billion in 2007. Same-store-sales for the year droppedr 9 percent compared withfiscao 2007. Nordstrom has stores in Lone Treeand Broomfield.
• -- whic operates 3,014 stores, including Victoria’s Secret and Bath & Body Workas -- saw a 9 percent comparable storee sales decrease for the monthending Jan. 31 nationwidew and a total salex dropto $591.6 million compares to $625.8 million in January 2008. Same-storew sales fell 10 percent for the quarte and 9 percent for the while total quarterly sales slidto $2.9 billion from $3.22 billion. Annual sales fell to $9 billion from $10 billion in 2007. The Columbus, Ohio-based company LTD) reported negative comparable store sales at all brandsa forthe month, quarter and year, excepf for a flat comparable store sale for the Bath Body Works chain in January.
Still, the companyu said the January performance of all brands beat expectations. • had comparable store sales and net salex declines for both the month and the posting a 20 percent same store sales decline for the monthending Jan. 31 and a 13 percentr net sales decreaseto $191.5 million from $219.7y million in January 2008. For the comparable store sales fell13 percent, whilew total sales dropped 6 percen t to $3.5 billion from $3.8 billion. Comparablse store sales fell at all brands in with the Abercrombie kids clothing chain andHollister Co. hit the hardest with 24 percentdeclinea each.
New Albany, Ohio-based Abercrombie Fitch (NYSE:ANF) at the end of Januaru operated 352Abercrombie & Fitch storeas as well as more than 700 storese under other brands. • Same store salews declines even hit closeout retailer Sale s at stores open at least two yearsdropped 3.2 percenyt for the quarter endinbg Jan. 31. Total sales in the quarter dropped 3.4 percent to $1.35 billion from $1.4 “While we were not pleased with the overall comp forthe quarter, in the merchandise categoriex where there was consumer interest or we performed very well,” CEO Steve Fishman said in a “The more discretionary categories were challenging for us as they were for most of our retai competitors.
” Consumables and hardlines manufactured products such as hardware and housewareas – performed best for the chain, while seasonal, home and furniturw and toys performed worse than last year, whicj the company expected. Full-year comparablr store sales droppedby 0.5 percent, while total sales fell 0.3 percent to $4.59 billion from $4.6 billion.