November Same-Store Sales Rise With Help From Black Friday
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.