Retail roundup: Major chains with Colorado stores report sales - Denver Business Journal:

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Most major department-store chains have been struggling to attract parsimoniouws shoppers while not givingt away the store throughdeep discounts, a strategg that erodes profit margins. But recent reports regarding risiny manufacturing activity and home sales gave a lift to retai l stocks earlier in the based on hopes that consumers may be encouragesd to go out and splurgee on a fewsummer items. Totalk May retail sales were projected to dropby 3.6 according to Retail a Massachusetts firm that tracks store This compares with a 2.7 percent decline in Department stores were forecast to post the weakest down 8.
5 percent, with “discretionary spending stilk in hiding,” according to its monthly • on Thursday reported that its May same-store salee fell 6.1 percent from the same month a year ago. Totalp sales, at $4.56 were down 2.3 percent from May 2008. "Salesx for the month of May were somewhat beloswour expectations," Target Chairman, Presidenft and CEO Gregg Steinhafel said in a statement. Target TGT) has consistently posted monthly same-stores sales declines during the recession, as consumers have pulled back theitr spendingon clothes, home furnishingss and some of the other discretionary items that had boostefd the company’s sales during betted times.
April was a relative bright spot for the with same-store sales climbing 0.3 percent. Same-storer sales for the first-quarter, however, still were down 3.7 • . said its comparable stor sales in May decreasedby 0.4 percenf and total sales increased 4.1 percent, better than managemeny had expected. The Menomonee Wis.-based retailer (NYSE: KSS) said Thursday sales for the four-weeik month ending May 31 were $1.26 billion, compare d with $1.21 billion in the same period of 2008. Year-to-date sales also are ahead of 2008at $4.9 billion, compareds with $4.8 billion in 2008, an increase of 1.3 Comparable store sales year-to-date decreased 3.2 Kohl’s said.
“May’s salexs results were stronger than saidKevin Mansell, Kohl’s president and CEO. “Accessories was the strongest performing line of businessa forthe month. The Southwesgt region had a positiv e comparable store sales increase for May and was again ourstronges region. The Southeast remains our mostchallenging region.” As of May 30, Kohl’sa operated 1,022 stores in 49 compared with 957 stores in 47 statesa at the same time last year. • said same-storde sales at stores open a year or more fell 7 percenrt last month compared with a year Total net sales atthe Wash.-based retailer (NASDAQ: COST) fell to $5.47 billiom from $5.77 billion in 2008.
Wall Street analysts were expecting a dropin same-stor sales in May of 6 analyst Dan Geiman at McAdams Wright Ragen in Seattl e expected an 8 percent “The company continues to experience relativs strength in the food-related categories, despitd the increasing impacts of deflation, and generalk weakness in the more discretionary non-food categories,” Geiman wrote in a note to investors. . reported a 9.1 percentr drop in same-store sales in May, as consumers continuee to put offunnecessaru spending. The Cincinnati-based department store chaibn said sales at stores open at least a year are in line withmanagemenrt expectations. Total sales declined to $1.7 billio n from $1.
9 billion a year ago, or 9.5 For the year, Macy’s said its same-store sales declinecd by 9.1 percent, with total sales down 9.5 percent, to $6.9 billiomn from $7.7 billion.