Retail
November Same-Store Sales Rise With Help From Black Friday
Published:
Last Updated:
Several retailers are announcing November U.S. same-store sales figures Thursday morning. Research firm Retail Metrics has forecast a year-over-year increase of 1.1% for the month, a dip of 20 basis points since the first of the month. AÂ solid, if unspectacular, Black Friday weekend certainly helped.
Retail Metrics now forecasts fourth-quarter same-store sales to slip by 10 basis points to growth of just 1%.
After markets close this afternoon, Gap Inc. (NYSE: GPS) is expected to post a same-store sales decline of 0.4% across all its store brands, with Banana Republic stores dropping 3.6%.
Here are results from the stores we track:
Buckle Inc. (NYSE: BKE) reported same-store sales for November fell 16.2% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 12.6%. Net sales for all stores fell 15.9% and totaled $81.5 million for the month.
Buckle’s shares closed down about 0.6% at $25.30 in on Wednesday. The stock’s 52-week range is $19.95 to $35.02.
Costco Wholesale Corp. (NASDAQ: COST) reported that November same-store sales, including gasoline sales and foreign exchange effects, rose 1% in the United States, rose 1% in Canada and fell 2% internationally. Globally, same-store sales rose 1% compared with November 2015. Excluding gasoline and currency exchange effects, U.S. sales rose 1%, Canadian sales rose 3% and international sales rose 4%. On the same basis, worldwide same-stores sales in the quarter rose 2%. Net sales for the month totaled $9.95 billion, up 3% year over year. Retail Metrics had projected a same-store sales increase of 1.3% (up 1.1% excluding gasoline sales).
Costco shares traded down about 0.1% in Wednesday’s after-hours session, at $150.00, after closing at $150.11. The stock’s 52-week range is $138.57 to $169.73.
L Brands Inc. (NYSE: LB) said same-store sales for November increased 4% compared with last year’s sales. Retail Metrics had estimated that sales would rise 1.6%. L Brands operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. The largest gain came from the company’s Victoria’s Secret stores, up 5% year over year in the month. Net sales for all stores rose 7% to $1.25 billion in November.
L Brands’ shares traded down about 0.3% in Wednesday’s after-hours session at $70.00. Shares closed at $70.22 on Wednesday, and the stock’s 52-week range is $60.00 to $99.83.
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.