Retailers Posts Strong November Sales as Stores Open Earlier Than Ever
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Following a Black Friday weekend in which many companies tried to start as soon as people were done eating their Thanksgiving feast; retailers are reporting solid sales for the month of November.
The WSJ highlighted consumers spent 9.1 percent more on average this past Black Friday weekend over last years to total roughly $398.62 each. It is reported that about 38 percent of total sales were derived from online sales.
Although retailers are posting record sales numbers, investors are not that enthusiastic about the figures. Some analyst fear the increase in sales may be due to sales being pulled from December to November as consumers try to cash in on the great promotional offers. Other analysts fear the side effects of the promotions and what they might mean on margins for the quarter.
Fourth quarter 2011 results will be interesting as it will offer insight on whether opening at midnight helped out retail stores such as Target (NYSE: TGT), Macy’s (NYSE: M), and Kohl’s (NYSE: KSS).
Reuters was forecasting a 3.1 percent increase on average within the 22 retail companies under its coverage.
Within the specialty apparel market, The Buckle (NYSE: BKE) reported a 9.2 percent increase in sales year over year to $94.9 million; The Gap (NYSE: GPS) reported a 3 percent decrease in sales year over year to $1.47 billion; The Limited (NYSE: LTD) reported a 2 percent decrease in sales year over year to 873 million; Ross Stores (Nasdaq: ROST) reported a 10 percent increase in sales year over year to $765 million, Saks Inc. (NYSE: SKS) reported a 8.7 percent increase in sales year over year to $277 million, and TJX (NYSE: TJX) reported a 4 percent increase November sales to $2.04 billion.
Within the general merchandise sector, Bon-Ton (Nasdaq: BONT) reported a 4.9 percent decrease in sales year over year to $304 million; Costco (Nasdaq: COST) reported a 11 percent increase in sales year over year to $7.51 billion; Dillard’s (NYSE: DDS) reported a 2 percent increase in sales year over year to $479 million; Fred’s (Nasdaq: FRED) reported a 4 percent increase in sales year over year to $152 million; JC Penney (NYSE: JCP) reported a 5.9 percent decrease in sales year over year to $1.74 billion; Kohl’s (NYSE: KSS) reported a 4.5 percent decrease in sales year over year to $1.93 billion, Macy’s (NYSE: M) reported a 5.3 percent increase in sales year over year to $2.46 billion, Stage Stores (NYSE: SSI) reported a 4.3 percent increase in sales year over year to $121 million; SteinMart (Nasdaq: SMRT) reported a 5.1 percent decrease in sales year over year to $102 million; and Target (NYSE: TGT) reported a 3 percent increase in November sales year over year to $6.19 billion.
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The WSJ highlighted consumers spent 9.1 percent more on average this past Black Friday weekend over last years to total roughly $398.62 each. It is reported that about 38 percent of total sales were derived from online sales.
Although retailers are posting record sales numbers, investors are not that enthusiastic about the figures. Some analyst fear the increase in sales may be due to sales being pulled from December to November as consumers try to cash in on the great promotional offers. Other analysts fear the side effects of the promotions and what they might mean on margins for the quarter.
Fourth quarter 2011 results will be interesting as it will offer insight on whether opening at midnight helped out retail stores such as Target (NYSE: TGT), Macy’s (NYSE: M), and Kohl’s (NYSE: KSS).
Reuters was forecasting a 3.1 percent increase on average within the 22 retail companies under its coverage.
Within the specialty apparel market, The Buckle (NYSE: BKE) reported a 9.2 percent increase in sales year over year to $94.9 million; The Gap (NYSE: GPS) reported a 3 percent decrease in sales year over year to $1.47 billion; The Limited (NYSE: LTD) reported a 2 percent decrease in sales year over year to 873 million; Ross Stores (Nasdaq: ROST) reported a 10 percent increase in sales year over year to $765 million, Saks Inc. (NYSE: SKS) reported a 8.7 percent increase in sales year over year to $277 million, and TJX (NYSE: TJX) reported a 4 percent increase November sales to $2.04 billion.
Within the general merchandise sector, Bon-Ton (Nasdaq: BONT) reported a 4.9 percent decrease in sales year over year to $304 million; Costco (Nasdaq: COST) reported a 11 percent increase in sales year over year to $7.51 billion; Dillard’s (NYSE: DDS) reported a 2 percent increase in sales year over year to $479 million; Fred’s (Nasdaq: FRED) reported a 4 percent increase in sales year over year to $152 million; JC Penney (NYSE: JCP) reported a 5.9 percent decrease in sales year over year to $1.74 billion; Kohl’s (NYSE: KSS) reported a 4.5 percent decrease in sales year over year to $1.93 billion, Macy’s (NYSE: M) reported a 5.3 percent increase in sales year over year to $2.46 billion, Stage Stores (NYSE: SSI) reported a 4.3 percent increase in sales year over year to $121 million; SteinMart (Nasdaq: SMRT) reported a 5.1 percent decrease in sales year over year to $102 million; and Target (NYSE: TGT) reported a 3 percent increase in November sales year over year to $6.19 billion.
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