Retailers are announcing February U.S. same-store sales figures Thursday morning, and research firm Retail Metrics had forecast a year-over-year increase of just 0.1% for the month. That's not much, but does improve on January's same-store sales decline of 13%.
We've been tracking four chains in these monthly reports, but Stein Mart Inc. (SMRT) will no longer report monthly sales figures. That leaves just three to report this morning, with Gap Inc. (GPS) expected to release sales figures after markets close Thursday. Retail Metrics expects same-store sales to drop 2% year over year, with the company's Banana Republic sales falling 7.7%.
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Here are results from the stores we track:
Buckle Inc. (BKE) reported that same-store sales for February fell 8.9% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 5.9%. Net sales for all stores fell 7.7% and totaled $81.8 million for the month. The company plans to announce quarterly results on March 11 before markets open.
Buckle's shares were inactive in Thursday morning's premarket, having closed at $32.18 on Wednesday, up about 0.8% for the day, in a 52-week range of $26.05 to $52.00.
Costco Wholesale Corp. (COST) reported January same-store sales, including gasoline sales and foreign exchange effects, were up 2% in the United States, down 2% in Canada and down 8% internationally. Globally, same-store sales were flat compared with February 2015. Excluding gasoline and currency exchange effects U.S. sales rose 4%, Canadian sales rose 10% and international sales were flat. On the same basis, worldwide same-stores sales in the quarter rose 4%. Net sales for the month totaled $8.28 billion, up 1% year over year. Retail Metrics had projected same-store sales to be flat (up 4.1% in the United States excluding gasoline sales). Costco reported quarterly income late Wednesday night and missed both profit and revenue estimates.
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Costco shares traded down about 2.2% at $149.50 in Thursday's premarket, having closed at $152.79 on Wednesday. The stock’s 52-week trading range is $117.03 to $169.73.
L Brands Inc. (LB) said same-store sales for February rose 5% compared with last year's sales. Retail Metrics had estimated an increase of 5%. L Brands operates Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. The largest gain came from the company's Bath & Body Works, up 9% year over year in the month. Net sales rose 5% to $806.1 million in February.