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Retail

Same Store Silliness (WMT)(TGT)(CC)(COST)

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By Douglas A. McIntyre Published
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No one is likely to be happy with all of the same-store sales coming from the big retailers.

Wal-mart (WMT) said its sales in February would be up 1% to 2%. After a decent January, the market was probably hoping for more.

Costco (COST), the big warehouse retailer said January was up 2%. Wall Street hoped for over 3%.

Things are so bad at Circuit City (CC) that it will close a ton of stores and change its management structure. Apparently Best Buy (BBY) is beating CC like a red-headed mule.

Target (TGT) seemed to be the exception. January same store sales rose 5.1% and revenue was up 37% to $4.89 billion. Other retailers must be green with envy.

Federated (FD) also had an exceptional month with same store figures up 8.6% and revenue up 19%.

JC Penney (JCP) just matched Wall St. expectations at 3.6%.

The best performance compared to expectations may have been from Nordstrom (JWN) where same store numbers rose 11% and total sales by 42% to $610 million.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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