May Same-Store Sales Slide

Same-store sales at U.S. apparel, department and discount retailers declined over May, posting a 4.2 percent loss for more than 30 retailers, excluding Walmart, monitored by TNS Retail Forward.

"The aggregate sales numbers may not reflect it for a while, but shoppers are showing signs of moderating their frugality of recent months," says Frank Badillo, senior economist at Retail Forward. "If shoppers sustain this positive momentum, then it should bear fruit of retail sales by the end of the year, if not the coming months."

May same-store sales for discount retailers declined for both Duckwall-Alco Stores and Target at 0.4 percent and 6.1 percent, respectively. Last month, Tom Schoewe, Walmart’s executive vice president and chief financial officer, announced that the retailer no longer would report monthly sales. Instead, the discounter will provide same-store sales data on a 13-week basis.

Apparel and accessory store leaders Aeropostale and Buckle reported 19 percent and 13.4 percent same-store sales increases, respectively. Underperformers last month included, Abercrombie & Fitch with a same-store sales decline of 28 percent, followed by Zumiez's 20.7 percent decline, Children’s Place Retail Stores’ 9.0 percent decline, Stage Stores’ 7.2 percent drop and Hot Topic with a 6.4 percent decline.

Slides were also reported among major department stores, including Saks with the sharpest same-store decline with 26.6 percent, followed by Neiman Marcus’ 23.3 percent drop, Nordstrom’s 13.1 percent decline, Bon-Ton Stores’ 12.1 percent drop, Dillard’s 12 percent decline, Macy’s 9.1 percent drop and JCPenney’s 8.2 percent decline. (For a list of the retailers reporting results, follow this link: www.retailforward.com/retailintel/samestr_sales.pdf)