Stores report modest retail numbers, some inflated by 2007 sales calendar

WASHINGTON (Map, News) - Some retailers are cautiously celebrating their November sales figures, while warning that December might not be as bright.

Though aggregate numbers are not yet available, some department stores have reported gains in sales this year over November 2006. Nordstrom saw an 8.7 percent increase in same-store sales, 5 points above an expected 3.7 percent increase, and Macy’s had a 13.4 percent jump, well above the estimate of 8.2 percent.

“[Retailers] did a good job of awareness of sales” and getting people out to the stores, said Seth Jayson, senior analyst at the Alexandria-based Motley Fool. Discount stores also saw gains. Sales at Wal-Mart increased 1.5 percent, above analyst expectations of 1.2 percent. Kohl’s had a 10.2 percent increase and Target a 10.8 percent increase.

“There was a pent-up demand for apparel” that was fueled when the weather finally turned colder, which helped boost numbers, said Scott Krugman, spokesman with the National Retail Federation.

The level of improvement over last year’s sales was not always clear, however, because of a calendar mismatch. Many retailers, including many of the ones mentioned above, ended November sales on Dec. 1 this year and Nov. 25 last year. While still a four-week window, the generally slow first week of November was cut out of some November sales figures this year, Jayson said.

When Target adjusted its figures for the difference in dates, its 10.8 percent increase for the month dropped to 1.1 percent. Abercrombie & Fitch compared the same four weeks, seeing only a 2 percent sales jump. Most stores did not provide adjusted figures. In the luxury market, there was concern that the retailers would lose their customers who had perhaps spent beyond their means before the credit crunch and mortgage crisis. For now, however, they “haven’t reached the point where their customers feel the pinch,” Jayson said.

Saks posted a 25.7 percent sales increase over last November, although the gain was partially accounted for by more promotional events in November this year and the calendar shift.

The Associated Press contributed to this article.

wblake@dcexaminer.com

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