With government stimulus checks mostly spent, July was a gloomy month for retailers. WWD took a toll of the national chains that either fell short of expectations or took a hit last month–or both–compared to July 2007.
Sales were up 3 percent year-over-year at Wal-Mart, falling short of the 3.4 percent boost analysts predicted. The nation’s largest retailer prepared investors for a tough August as well, estimating a 1 to 2 percent increase.
- Target’s sales fell 1.2 percent annually.
- Kohl’s dropped 10.4 percent.
- J.C. Penney’s were down 6.5 percent.
- Neiman Marcus’ sales were down 1.7 percent.
- Saks were down 5.3 percent.
- Nordstrom’s same-store sales dropped 6.1 percent.
- Sales at Gap Inc.’s sales were down 11 percent.
- Abercrombie & Fitch and American Eagle Outfitters were both down 7 percent for the month.
- Limited Brands dropped 5 percent.
- Sales at Wet Seal dropped 8.2 percent.
- Sales at Dillard’s were up 2 percent.
There were a few bright spots in annual sales, though.
- Aeropostale managed a 13 percent increase.
- Sam’s Club sales rose 3.5 percent.
- Costco’s were up 10 percent.