Retail comparable store sales managed a low-singles increase for the fiscal month of November as the shifting retail calendar gave the month an extra week of Holiday sales. Sales were also aided, though, by several cold bouts and bits of nasty weather that hit the country, causing many consumers to finally go out and buy this years coat. (For the full comps chart click here)
According to a preliminary tally of 46 retail-chain stores compiled by the International Council of Shopping Centers, November same-store sales grew 3.5%, but the shifting calendar added approximately 75 to 100 basis points to the comps gain. The ICSC estimates that without the calendar benefit, comparable store sales would have increased 2.5% to 2.75%.
For the year-to-date period, the ICSC estimates that average monthly comp sales growth was 2.4%, though at a higher rate without Wal-Mart. Excluding Wal-Mart, same-store sales grew 4.9% for the month and 3.2% for the YTD period.
Looking to next month, the group anticipates a 1.5% comp store sales gain as the week that benefited November will take sales from December. For the November-December holiday period, comparable store sales are expected to rise 2.5%, in-line with the year-to-date trend.
According to retail point-of-sale data compiled by SportScanINFO for the retail fiscal month of November, the sporting goods market lagged behind the overall as Sport Footwear sales grew in the low-singles in dollars, but Sport Apparel sales came in just below flat.
The low-singles growth in Sport Footwear came despite a slight decrease in units sold. Sales were driven by Lifestyle/Fashion Athletic product, as well as Running. Action Sports Footwear saw a low-teens decrease in dollars sold and a low-20s drop in average selling price as strong double-digit growth in Skate was more than offset by a sharp drop in sales of Wheeled Footwear.
November saw the cold weather categories finally post growth as Sweats/Fleece, Outerwear and Winter Headwear were all up for the month, but not enough to bring overall Sport Apparel sales into the black.
Pacific Sunwear of California, Inc. sales for the four weeks of fiscal November were $120.9 million, an increase of 3.6% over total sales of $116.6 million during the same period in 2006. By concept, PacSun total sales were $109.9 million, an increase of 7.6% over total sales of $102.1 million during the same four week period last year, while the companys demo format posted total sales of $10.0 million, a decrease of 27.3% from total sales of $13.8 million during the comparable four-week period last year.
Total company same-store sales increased 2.3% during the same period. By concept, PacSun same-store sales increased 7.0% and demo same-store sales decreased 30.6% compared to the same four-week period last year. Due to the 53rd week in fiscal 2006, total sales and comparable store sales for November 2007 are compared to the four-week period ended December 2, 2006.
Geographically, PacSun comps were positive in all regions with the exception of California and the desert Southwest. Additionally, comps in Florida were down slightly. The company said its PacSun stores posted a 7.9% increase in comparable store sales during the Black Friday weekend.
For PacSun, comps in the apparel category for juniors were up low-20s. Guys apparel comps for the month were up low-double-digits. Total accessory comps were down mid-teens for the month. Junior accessory comps were down low-double-digits and guys were down in the mid-20s. PSUN said that footwear comps were down low-double-digits, with juniors down in the low 20s and guys down in the high-single-digits.
PacSun transactions per comp store were down in the low-single-digits for the month . The average unit retail was up low-teens. The average items sold per transaction were down low-single-digits, and the average transaction value per comp store was up in the high-single-digits.
Zumiez Inc. recorded a 5.6% increase in same-store sales for fiscal November. The comps improvement comes on top of a 12.1% jump in the year-ago month. Total net sales for the four-week period increased 28.5% to $33.3 million, compared to $25.9 million for the same period last year.
On a comparable calendar basis, ZUMZ said total November sales increased 20.1% over fiscal 2006. Sales growth was driven by new stores, and the comparable store sales gain that came largely from an increase in comparable store transactions. Hardgoods was the strongest positive contributor.
The Walking Company saw comparable store sales increase approximately 20% for the three-day Thanksgiving weekend. The shoe chain also saw low-double-digit comparable store sales for months of October and November.
Andrew Feshbach, CEO of Big Dog Holdings, Inc., TWC's parent, also said gross margins “appear to be above last year's results for the holiday weekend.” Feshbach also expects Walking Co. to show low-double-digit comp gains for the remainder of the year.
“With margins holding above last year, we appear to be in a good position to achieve improved financial performance for The Walking Company for 2007,” said Feshbach. “Further, we have now expanded The Walking Company to 178 stores, with nine more stores opening in December and three underperforming stores closing by around year end. Looking into 2008, we appear poised to grow rapidly as we continue our store expansion and integrate our new acquisition (Natural Comfort) which is scheduled to close in early January.”
TJX Companies, Inc. reported sales for the fiscal month were $1.8 billion, up 10% over $1.6 billion seen last year. Consolidated comparable store sales for November 2007 increased 7%. Foreign currency exchange rates benefited comp store sales by about 3 percentage points. Comp store sales at Bob's Stores jumped 19% in November, as this division benefited from the seasonably cold weather in the Northeast.
