Most major retailers report sales slump - Denver Business Journal:

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Retailers across the country have been grappliny for shoppers while at the same time hundredx of thousands of jobs are being cutevery month. Discretionarg spending, as a is drying up. • Inc. reported sharply decliningh sales in March from a year as massive job losses and a mercuriaol stock market caused wary consumers to hold off on mostdiscretionaryu spending. The Cincinnati-based department store chain (NYSE: M) said sales at stores open at leastg a year droppedby 9.2 percentf in the five-week within management expectations. Analysts polled by Thomson Reuters hadexpectedd Macy’s sales to fall year-to-year by 9.
3 percent, which speakw to the extent that failing consumer confidence has become an accepted condition. Retailer warned that the shift in the Easter to April from March last contributed to some ofthe decline. In Macy’s sales dropped by 9.8 percent in March, to $1.9 billion from $2.1 billion, and by 9.6 percen t – to $3.5 from almost $3.9 billion – for the firsyt two months of thefisca year. On a same-store basis, Macy’s year-to-dates sales slipped by 8.9 A bright light for the merchangt was itsonline sales, which rose 17.
9 percent in Macy’s calculates these figures into its totalk same-store sales figure, indicating actualo store sales were down more than by 9.2 That said, online sales represenyt just $1 billion of Macy’s roughly $25 billion in annualp revenue. • said its sales decline d by 7.2 percent, beating projectionds of a 10.5 percent dip. The Plano, Texas-based retailere (NYSE: JCP) said it had expected a low-double digitf to mid-teen drop in same-store sales. Instead, it recorded a 7.2 percentr drop in same-store salews for the five-week period ending in This is improved fromthe 12.
3 percentg drop in same-store sales that the companyg faced during the same month last Penney’s said the home division was the most successful in Marcbh in terms of sales, while fine jewelry salee remained weak. For the five-week periods ending April 4, Penney’s recorded $1.4 billion in same-store lower than the $1.5 billion Penney’e recorded a year earlier. • . said its same-store March sales declined 4.3 percent while total salees increased 0.5 percent. Menomonee Falls, Wisc.-basecd Kohl’s (NYSE: KSS) said it recorded salee of $1.43 billion for the five-week month endingy April 4. For the fiscal year to date, Kohl’se posted sales of $2.
4w3 billion, which was up 1.8 percent. Comparable-store sales year-to-date decreased 3.2 percent. Sales results for March exceeded Kohl’s executives’ expectations, said CEO and president Kevin Mansell. Home good s outperformed the rest of the producy lines and stores in the American Southwest posted the strongestysales performance, he said. As of April 4, Kohl’s operated 1,022 store in 49 states, compared with 943 stores in 47 statese at the same timelast • saw its same-store sales drop 29.9 percent for the five-week periodd ending April 4.
Dallas-basecd Neiman’s said Thursday it posted $301 million in same-storde sales, which are sales for stores that have been open for 12 monthxor longer.