November's results were the weakest increase the industry has seen since March, when same-store sales rose 2%. The results lagged due to: tough comparisons to last year when an abundance of purchases were made after hurricane season, mild weather that dropped apparel demand and lower gasoline prices that cut into wholesale clubs' results.
Department stores were again a leading sector in the industry, gaining 4.6%. Federated Department Stores turned in the best results, with an 8.5% jump, while Nordstrom was up 5.4%. Dillards continued to struggle, dropping 3%.
Wholesale clubs, down 1.1% from their year-to-date total, still performed better than much of the industry, increasing 3.5%. Costco lead the sector, shooting up 5%, and Wal-Mart's Sam's Clubs rose 2%.
In contrast to the slide at Wal-Mart's discount stores, Target had a strong month, rising 5.9%. Off-price apparel retailer TJX Cos. went up 3%, with the whole discount sector inching up 1%.
Apparel chains were marked by high gains and losses. Gap Inc. fell 8%, and Cato Corp. dropped by 6%. However, American Eagle Outfitters continued its monthly strong performances, gaining 14%, and Limited Brands were up 12%.
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