Retail roundup: Major chains with Colorado stores report sales - Denver Business Journal:

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Most major department-store chains have been struggling to attract parsimonious shopperxs while not giving away the store throughdeep discounts, a strateg y that erodes profit margins. But recent reporte regarding rising manufacturing activity and home sale s gave a lift to retail stocks earlied inthe week, based on hopexs that consumers may be encouragedr to go out and splurge on a few summer Total May retail sales were projecteds to drop by 3.6 percent, according to Retaill Metrics, a Massachusetts firm that tracks store This compares with a 2.7 percent decline in April. Department stores were forecas t to post theweakest results, down 8.
5 with “discretionary spending still in hiding,” accordingg to its monthly report. • on Thursday reportedx that itsMay same-store sales fell 6.1 percent from the same montu a year ago. Total sales, at $4.56 were down 2.3 percent from May 2008. "Sales for the month of May were somewhart belowour expectations," Target Chairman, President and CEO Gregg Steinhafell said in a statement.
Target (NYSE: TGT) has consistentlg posted monthly same-store sales declinews during the recession, as consumers have pulled back theitr spendingon clothes, home furnishings and some of the othe discretionary items that had boosted the company’sw sales during better April was a relative bright spot for the with same-store sales climbing 0.3 percent. Same-store salesx for the first-quarter, however, still were down 3.7 percent. . said its comparable store sales in May decreasedby 0.4 percenty and total sales increased 4.1 percent, bettef than management had The Menomonee Falls, Wis.-basefd retailer (NYSE: KSS) said Thursday sales for the four-weekl month ending May 31 were $1.
27 billion, compared with $1.21 billion in the same period of 2008. Year-to-datre sales also are ahead of 2008at $4.9 compared with $4.8 billion in an increase of 1.3 Comparable store sales year-to-date decreased 3.2 percent, Kohl’s said. “May’es sales results were strongerthan planned,” said Kevi Mansell, Kohl’s president and CEO. “Accessoriezs was the strongest performing line of business forthe month. The Southwesgt region had a positive comparable store sales increase for May and was agai n ourstrongest region.
The Southeast remains our most challenging As ofMay 30, Kohl’s operated 1,0221 stores in 49 states, comparedd with 957 stores in 47 statees at the same time last year. said same-store sales at stores open a year or more fell 7 percenf last month compared with ayear earlier. Totapl net sales at the Issaquah, Wash.-based retailer COST) fell to $5.47 billion from $5.78 billion in 2008. Wall Street analystzs were expecting a dropin same-store salea in May of 6 analyst Dan Geiman at McAdams Wright Ragemn in Seattle expected an 8 percent “The company continues to experience relative strengtgh in the food-related categories, despite the increasingg impacts of deflation, and general weaknessz in the more discretionary non-food Geiman wrote in a note to investors.
. reported a 9.1 percent drop in same-store sales in May, as consumerz continued to put offunnecessarg spending. The Cincinnati-based department store chain said saless at stores open at least a year are in line withmanagementf expectations. Total sales declined to $1.7 billion from $1.9 billioj a year ago, or 9.5 percent. For the year, Macy’s said its same-store sales declined by 9.1 percent, with totall sales down 9.5 percent, to $6.9 billion from $7.
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