June Same-Store Sales Results Look Shaky

Retailers are announcing June U.S. same-store sales figures Thursday morning. Research firm Retail Metrics had forecast a year-over-year decrease of 0.3% for the month and a 0.9% sales increase for the second quarter. In May, same-store sales were down 0.7%.

After markets close Thursday afternoon, Gap Inc. (NYSE: GPS) is expected to post a decline of 3.6% across all its stores, with Banana Republic stores diving more than 10%.

Here are results from the stores we track:

Buckle Inc. (NYSE: BKE) reported same-store sales for June fell 10.6% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 9.2%. Net sales for all stores fell 10.1% and totaled $78.3 million for the month. These results include the impact of both reward redemptions and accruals for estimated future rewards related to Buckle’s loyalty program launched in April.

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Buckle’s shares were inactive in Thursday’s premarket, having closed at $25.72 on Wednesday, up about 2.6% for the day, in a 52-week range of $22.00 to $47.00.

Costco Wholesale Corp. (NASDAQ: COST) reported that June same-store sales, including gasoline sales and foreign exchange effects, were flat  in the United States, up 1% in Canada and down 3% internationally. Globally, same-store sales were flat compared with June 2015. Excluding gasoline and currency exchange effects, U.S. sales rose 2%, Canadian sales rose 7% and international sales rose 2%. On the same basis, worldwide same-stores sales in the quarter rose 3%. Net sales for the month totaled $11.33 billion, up 3% year-over-year. Retail Metrics had projected a same-store sales rise 0.2% (up 3.1% excluding gasoline sales).

Costco shares traded up about 1.4% in Thursday’s premarket, at $158.18, having closed at $156.01 on Wednesday. The stock’s 52-week range is $117.03 to $169.73.

L Brands Inc. (NYSE: LB) said same-store sales for June increased 6% compared with last year’s sales. Retail Metrics had estimated a rise of 1.9%. L Brands operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. The largest gain came from the company’s Bath & Body Works, up 7% year over year in the month. Net sales rose 7% to $1.3 billion in June.

L Brands’ shares traded up about 0.8% in Thursday’s premarket session to $69.00. Shares closed at $68.47 on Wednesday, and the stock’s 52-week range is $60.00 to $101.11.

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