Jan 10 2009
Retailer’s lament - It was a Blue Christmas without You
Same Store Christmas Sales 2007-2008, Click to enlarge
The New Year is here and as we ponder our credit card bills retailers are reporting their dismal holiday sales. Most retailers experienced a decline in year over year sales. I found haphazard reporting on the Web but no comprehensive list comparing results - so I scrounged the Internets, compiled a list, and made the chart at left. The chart will be updated as more retailers report earnings.
Not surprisingly high-end double-name retailers reported the largest same-store sales declines. Nieman Marcus (-27%), Williams Sonoma (-24.2%) and Abercombie and Fitch (-24%) led with the largest same-store sales declines as frugal shoppers made their money go further at lower end stores. Walmart (+1.7%) and Kmart (-1.1%) were little changed from last year as husbands splurged on toasters instead of lingerie (Victoria’s Secret was down 10%).
Few stores showed year over year increases. Big winners were casual wear mall stores including The Buckle (+13.5%), Aeropostale (+12%) and J Crew (+8.5%) while in hard goods GameStop (+10%) and Walgreens (4.9%) led the pack.
The same store sales chart at left shows the change in sales at stores that have been open for at least a year - and excludes sales data from new store expansion and store closings.