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Macy’s and Nordstrom top estimates in December; Kohl’s misses
New York -- As cash-strapped consumers curtailed holiday spending, department store retailers felt the pinch and some performed better than others in an uncertain environment. The strongest performances were turned in by Macy’s and Nordstrom, both topping estimates.
Overall, analysts looked for 3.3% same-store sales growth for December across 17 chains, down from 4.2% growth in December 2011, according to Thomson Reuters.
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Rite Aid reports 2.2% decrease in comps for December
New York -- A shift in the New Year's holiday calendar and the introduction of new generic drugs contributed to a decrease in same-store sales for the month of December at Rite Aid, the retail pharmacy chain said Thursday.
Rite Aid reported a 2.2% decrease in comps for the four-week period that ended Saturday, including a 1% decrease in front-end comps and a 2.9% decrease in pharmacy comps.
Total sales for the four-week period decreased by 2.7%, to $2.054 billion, compared with $2.112 billion in December 2011.