retail

Weather, Consumers Kind To Stores In February

Victorias-SecretWhether it’s because they were tempted by new spring merchandise, or just bored with a too-warm winter, people indulged in some extra retail therapy last month, with many of the country’s largest chain stores posting solid sales gains. Specialty clothing stores were among the best performers, including Victoria’s Secret and the Gap. Rosy results cut across all demographics, with Target, Macy’s, and Nordstrom all turning in smart numbers.

Overall, the International Council of Shopping Centers reports that sales rose 6.7%. “February sales posted an unexpectedly strong gain to start the new fiscal year. Weather was a positive factor in February with intermittent bouts of cold weather between unseasonably warm weather, which helped push winter clearance and spring merchandise,” ICSC chief economist Michael P. Niemira says in its release. “February is the second-lowest volume month of the year and a little bit better sales can create exaggerated growth.”

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Limited Brand’s same-store sales results gained 8%, including a 10% hike at its Victoria’s Secret unit, with strengths across its assortment. And while sales inched u just 1% at the Gap’s flagship brand, sales in its Banana Republic North America’s jumped 12%, with its Old Navy stores registering a 5% advance. “Customers responded well to our spring product,” chairman Glenn Murphy says in its report.

Target says its sales rose 7%, “well above our expectations, due to stronger-than-expected guest traffic combined with a solid increase in transaction size," chairman Gregg Steinhafel, says in its release. Macy’s was also upbeat, with sales rising 4.6%, based on “good consumer response to our early spring deliveries in women's apparel, and continued strong trends in accessories, shoes, cosmetics, men's and home,” it says.

And at Nordstrom, sales rose a hefty 10.2% for the month, while same-store sales figures improved 6.6% at Saks Fifth Avenue, buoyed by women’s apparel; handbags; and men’s accessories, shoes, furnishings, and contemporary apparel.

At Kohl’s, however, comparable store sells fell 0.8%, although the company says its cold-weather stores actually outperformed the company average.

ICSC expects that March sales will increase between 3 and 5%.

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