Department Store

U.S. retailers reported 5% year-over-year growth in general merchandise, apparel, furniture and other (GAFO) retail sales. According to monthly figures from in-store retail analytics provider Euclid, shoppers made fewer trips to the store than expected, but were very engaged and showed a lot of intent to buy.

Euclid also reported 7% growth year-over-year in clothing and apparel sales and 2% growth year-over-year in general merchandise sales. Shopper traffic declined 11% compared to the same month last year, as travel plans appeared to cannibalize leisure time.

New York — Coach Inc. will reportedly start offering 25% discounts on its luxury handbags at its stores in twice-a-year sales during June and December. According to Bloomberg, Coach will reduce prices on end-of-season and discount merchandise from 30-50%.

Fremont, Calif. — The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to June 19, 2014, unless further amended.  The tender offer was previously set to expire on June 5, 2014.

Emma & Roe, a new concept from Australia-based, global jewelry retailer Michael Hill International, has opened its doors in Queensland, Australia. Focused on the jewelry charms business, Emma & Roe stands out for its bold but feminine visual stylings. Clean lines are accented with touches of elegance to balance Emma & Roe’s sophistication and moments of playfulness. The color palette features a signature berry color, complemented by a fresh, youthful bright pink and a neutral slate grey.

Store closings are hardly an infrequent topic in this space. As a barometer for both the performance of individual brands and the market at large, they are an important part of the equation for any retail analyst. Store closings are part of healthy portfolio management for any brand, and, on a larger scale, bankruptcies and reorganizations are a reflection of the market at work.

No company hired more veterans last year than Walmart, but that distinction was only enough to earn the company the 23rd spot on Military Times annual ranking of the best companies for veterans.
 

New York -- Costco Wholesale Corp. was among the retailers who topped sales expectations in May as warmer weather encouraged consumers to go out and shop.

Costco’s same-store sales rose 6% in May, with a 6% rise in U.S. sales and a 4% increase in international sales, better than analysts had expected.

At L Brands, owner of Victoria's Secret and Bath & Body Works, same-store sales were up 3 in May, better than projections. Total revenue for the month rose 4% to $763.6 million.

Persistent winter weather took a bite out of Stein Mart’s net income in the first quarter, but the retailer rallied once the weather improved. It closed the quarter with total and comparable-store sales increases, and the upward trend has continued through May.

The company reported total sales for the four-week period ended May 31 of $109.6 million, a 2.2% increase over total sales of $107.3 million for the four-week period ended June 1 last year. Comparable store sales for the month increased 0.4% from comparable store sales for the same month last year.