MONTHLY SECTOR SAME STORE SALES

Global Credit Services' Monthly Sector Same Store Sales Report focuses on macro consumer economic patterns in combination with insightful commentary.

July 2009

The disappointing July 2009 comparable store sales numbers reflect an abysmal retail environment coupled with a variety of adverse circumstances that depressed results. Unseasonably cool weather during the month not only disappointed beachgoers, but also kept many consumers out of the mall. Sales were depressed as many states shifted the sales tax holiday to August from July due to the late Labor Day. A variety of government subsidies are likely diverting income towards autos and housing at the expense of discretionary retail. This trend is likely to continue in the month ahead as the wildly popular 'Cash for Clunkers' program continues. The year-over-year comparison was particularly harsh as the prior period's results were artificially boosted by government stimulus checks. Although most consumers were relieved to watch the price of oil tumble in the past year, it was a mixed blessing for retailers. Because revenues at major retailers such as Costco and BJ's were juiced by inflated oil prices in the year ago period, comp results were particularly rough. High-end retailers continued to suffer as Neiman Marcus and Saks posted terrible comp numbers. Teenagers and young adults continued to shun Abercrombie's pricier apparel in favor of the more affordable Aeropostale. Among the few retailers posting positive comp results were Ross Stores and TJX. The Buckle's growth seemed to moderate as the company reported only a slight bump in comps after months of torrid growth. With unemployment of 9.5% and teenage unemployment much higher, even the fashion-conscious American youth is choosing price over flair.


The Monthly Sector Same Store Sales Report is comprised of:

•  Top 10 Retailers •  Bottom 10 Retailers
•  Rising Stars - Most Improved •  Falling Stars - Sharpest Decline
•  Industry Performance •  Companies Ranked By Industry
•  All Companies In Report
 
Top 10 Retail Performers

Industry Company Comp %
APP AEROPOSTALE INC 6.0 
APP ROSS STORES INC 4.0 
APP TJX COMPANIES INC 4.0 
APP BUCKLE INC, THE 2.8 
DR WALGREEN COMPANY INC 2.0 
DEP KOHLS CORP 0.4 
DR RITE AID CORP - 0.6 
APP CHILDRENS PLACE RETAIL STORES INC - 4.0 
MM DUCKWALL ALCO STORES INC - 4.3 
APP STEIN MART INC - 5.5 

Bottom 10 Retail Performers

Industry Company Comp %
APP ABERCROMBIE & FITCH CO - 28.0 
DEP NEIMAN MARCUS INC - 27.3 
SG ZUMIEZ INC - 16.8 
DEP SAKS INC/FKA PROFFITTS INC - 16.3 
DEP JC PENNEY CO INC - 12.3 
APP WET SEAL INC - 12.1 
DEP DILLARDS INC-HQ - 12.0 
DEP STAGE STORES INC - 11.9 
APP AMERICAN EAGLE OUTFITTERS - 11.0 
DEP MACYS INC (FKA FEDERATED DPT STORES) - 10.7 

Rising Stars - Most Improved

Industry Company TY LY
DEP KOHLS CORP 0.4 - 10.4
APP OLD NAVY/THE GAP INC - 8.0 - 16.0
APP GAP INC,THE - 8.0 - 11.0
APP STEIN MART INC - 5.5 - 7.7
APP TJX COMPANIES INC 4.0 3.0
APP BANANA REPUBLIC INC/THE GAP INC - 7.0 - 8.0
APP ROSS STORES INC 4.0 4.0
DEP NORDSTROM INC - 6.9 - 6.1
DR RITE AID CORP - 0.6 1.2
APP LIMITED BRANDS INC - 7.0 - 5.0


Falling Stars - Sharpest Decline

Industry Company TY LY
MM BJS WHOLESALE CLUB - 9.1 16.7
DEP NEIMAN MARCUS INC - 27.3 - 1.7
APP ABERCROMBIE & FITCH CO - 28.0 - 7.0
APP BUCKLE INC, THE 2.8 20.9
MM COSTCO WHOLESALE CORP - 7.0 10.0
SG ZUMIEZ INC - 16.8 - 1.4
DEP DILLARDS INC-HQ - 12.0 2.0
APP DESTINATION MATERNITY CORP - 8.3 2.8
DEP SAKS INC/FKA PROFFITTS INC - 16.3 - 5.3
DEP BON TON STORES INC - 9.8 0.7

Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
6.0  - 7.8  - 28.0 
APP Apparel Stores 6.0  - 6.4  - 28.0 
DEP Dept Stores & Catalogs 0.4  - 11.9  - 27.3 
DR Drug Stores 2.0  0.7  - 0.6 
MM Mass Merchandisers-Retail - 4.3  - 6.7  - 9.1 
SG Sporting Goods Retail - 16.8  - 16.8  - 16.8 


Companies Ranked By Industry

Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
 AEROPOSTALE INC  6.00  13.00  156.80  138.80  13
 ROSS STORES INC  4.00  4.00  538.00  499.00  8
 TJX COMPANIES INC  4.00  3.00  1420.00  1400.00  1
 BUCKLE INC, THE  2.80  20.90  61.50  57.00  8
 CHILDRENS PLACE RETAIL STORES INC  -4.00  0.00  102.10  105.60  -3
 STEIN MART INC  -5.50  -7.70  73.30  80.60  -9
 LIMITED BRANDS INC  -7.00  -5.00  556.20  601.30  -8
 BANANA REPUBLIC INC/THE GAP INC  -7.00  -8.00  0.00  0.00  0
 GAP INC,THE  -8.00  -11.00  924.00  998.00  -7
 OLD NAVY/THE GAP INC  -8.00  -16.00  0.00  0.00  0
 DESTINATION MATERNITY CORP  -8.30  2.80  38.50  42.00  -8
 HOT TOPIC INC  -8.50  -2.10  52.30  56.20  -7
 GAP INC  -9.00  -6.00  0.00  0.00  0
 VICTORIAS SECRET STORES INC/LIMITED BRANDS  -9.00  -6.00  0.00  0.00  0
 AMERICAN EAGLE OUTFITTERS  -11.00  -7.00  215.00  232.80  -8
 WET SEAL INC  -12.10  -8.20  42.70  46.50  -8
 ABERCROMBIE & FITCH CO  -28.00  -7.00  236.00  303.10  -22

Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
 KOHLS CORP  0.40  -10.40  1080.00  1027.20  5
 NORDSTROM INC  -6.90  -6.10  806.00  840.00  -4
 BON TON STORES INC  -9.80  0.70  178.80  197.90  -10
 MACYS INC (FKA FEDERATED DPT STORES)  -10.70    1377.00    0
 STAGE STORES INC  -11.90  -6.20  97.00  108.10  -10
 DILLARDS INC-HQ  -12.00  2.00  439.10  513.80  -15
 JC PENNEY CO INC  -12.30  -6.50  1194.00  1336.00  -11
 SAKS INC/FKA PROFFITTS INC  -16.30  -5.30  159.70  192.10  -17
 NEIMAN MARCUS INC  -27.30  -1.70  199.00  268.00  -26

Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
 WALGREEN COMPANY INC  2.00  4.10  5257.00  4891.70  7
 RITE AID CORP  -0.60  1.20  1929.00  1975.00  -2

Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
 DUCKWALL ALCO STORES INC  -4.30  4.70  33.00  35.40  -7
 TARGET CORP  -6.50  -1.20  4420.00  4566.00  -3
 COSTCO WHOLESALE CORP  -7.00  10.00  5410.00  5700.00  -5
 BJS WHOLESALE CLUB  -9.10  16.70  722.50  773.20  -7

Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
 ZUMIEZ INC  -16.80  -1.40  29.90  31.70  -6

All Companies In Report


Industry Company YTD Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jul Prior Year Jul Prior Year
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   


Methodology:
Multiple operating units of a company are reported separately as well as on a consolidated basis. Each operating unit references its parent.


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