-
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.
-
Bebe sees sales drop in Q2; names new CEO
Brisbane, Calif. -- Bebe Stores Inc. reported Thursday that sales for the second quarter plunged 11.7% to $124.6 million, from $141.1 million last year.
Same-store sales plummeted 10.5%, and the women’s apparel retailer now says it expects its second quarter net loss will be larger than previously estimated.
Foot traffic fell 15% in the second quarter, which caused inventory per sq. ft. to jump 27.5%.