Thursday, December 04, 2008
how about that black friday?
Retailers' November same-store sales results have been rather paltry, with few exceptions. Target (TGT) reported comparable sales dropped 10.4%. Macy's (M) reported a 13.3% drop in comparables. Nordstrom (JWN) saw same-store sales slide 15.9%. Kohl's (KSS) reported a 17.5% slump in comparables. JC Penney (JCP) posted a drop of 11.9% in same-store sales. TJX Companies (TJX) reported a 12.0% drop in same-store sales. Meanwhile, BJ's Wholesale (BJ) saw same-store sales increase 6.2%. Wal-Mart (WMT) reported a 3.4% increase in comparables.
upscale is getting hammered; midscale is getting hammered; discount is benefitting. anecdotally, i must admit, for the first time in a very long time my family bought some things from wal-mart this week. i'd never been in one of my own volition before.
calculated risk examines the retail trend, but notes that the next few weeks really tell all.