Retailers today confirmed what they already inherently knew: Their December sales were down from a year ago.
Menomonee Falls-based Kohl's Corp. reported today that its comparable store sales decreased 1.4 percent for the five-weeks ended Jan. 3.
For the year, Kohl's said its comparable store sales decreased 6.6 percent.
Kevin Mansell, Kohl's president and chief executive officer, said, "December sales results were aided by last minute shoppers and strong post-Christmas business. Inventory levels, particularly seasonal clearance, are significantly below last year. Going forward, we intend to continue to plan sales and inventory conservatively in order to maximize profitability."
The Bon-Ton Stores Inc., the parent company of Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younker stores, today reported that its comparable store sales in December fell 5.8 percent. The company's merchandising, marketing and private brands operations are based in Milwaukee.
Tony Buccina, vice chairman and president of merchandising for Bon-Ton, said, "The three weeks prior to the holidays were challenged by a cautious consumer, competitive and economic pressures across the retail sector and unfavorable weather, which included the final weekend before Christmas.
Wal-Mart Stores Inc.'s comparable store sales rose1.7 percent in December, disappointing analysts, and the company cut its fourth-quarter earnings estimate from continuing operations to a range of 91 cents to 94 cents per share, down from its prior view of $1.03 to $1.07 per share.
"Due to the difficult economy and severe winter weather in some regions, the holiday season was more challenging for retailers than expected," said Eduardo Castro-Wright, vice chairman of Wal-Mart.
Other retailers reporting comparable store December sales included: Target Corp. (down 4.1 percent); Saks Inc. (down 20 percent); J.C. Penney Co. (down 8.1 percent); Sears Holdings Corp. (down 7.3 percent); Macy's Inc. (down 4 percent); and Gap Inc. (down 14 percent).
Retailers confirm dismal holiday sales
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