Apparel chains report dismal September sales
As results trickled in Thursday from merchants, even TJX Cos. which offers discounts on designer brands coupled with been mostly of the bright spots in apparel selling was not immune to the mounting economic woes. Maxx and HomeGoods, lowered its profit outlook because it reported an unexpected stop by deutschland trikot 2013 sales at established stores.Others such as Gap, Abercrombie Fitch and Chico's FAS, which had been mired inside a sales slump for months, fared far worse, reporting doubledigit samestore sales declines. Samestore sales are sales at stores opened at least annually and are considered a key indicator of the retailer's health. Penney and Saks reported their September results on Wednesday. Many retailers reported a day sooner than usual due fussball trikots kaufen to the Yom Kippur holiday Thursday.WalMart was one of the few winners, posting a modest sales gain, but even its results were a bit below analysts' estimates, indicating that shoppers are sticking to barebone necessities."This is very worrisome. It truly puts a gloomy feeling in regards to what can happen for the holidays," said Jharonne Martis, an analyst at Thomson Reuters.According to the latest tally by Thomson Reuters, samestore sales for September rose a meager 0.8%, the weakest September performance because the research firm started tracking retail sales data in 2000. The pace is well below the 1.9% average gain from January through August. Excluding sales figures from WalMart, which in fact had a modest gain, samestore sales actually fell 0.9% recently.Based on the International Council of Shopping Centers' final tally of 36 retail chains, samestore sales rose 1.0% last month, the weakest September performance since 2001 once the pace was up a meager 0.9% in the aftermath of the terrorist attacks.The best performers were wholesale clubs, which posted an average increase of 7.4%. Luxury stores were the biggest losers, recording a 10.9% sales drop, according to the ICSC.TJX, hurt with a strong dollar, reported on Thursday a 1% stop by samestore sales, below the 0.5% gain expected by analysts polled by Thomson Reuters. Excluding the stronger dollar, samestore sales rose dfb trikot 1%.Carol Meyrowitz, president and CEO of TJX, said that while she acknowledged that "consumers are worried," she believes that with the company's wellcontrolled inventories, the savings it offers customers and it is financial deutschland trikot strength, the company is in an "excellent position entering christmas."Gap, dragged down by a deep sales slump at its Old Navy division, reported an 11% samestore sales drop, deeper compared to 8.3% decline expected.Chico's a break down 15.6% drop in samestore sales, worse compared to 13.0% decline projected. Chico's also withdrew its earnings outlook for the second half of the year because of the tough economy and unstable markets.Abercrombie also warned Thursday that earnings for that second half of their fiscal year will likely come in well below prior forecasts because of continued economic difficulties and declining consumer confidence. Additionally, it issued thirdquarter profit guidance significantly below Wall Street's expectations.
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