Retail

November Same-Store Sales Rise With Help From Black Friday

Thinkstock

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. A 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.

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here
you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.


Click here
to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.