Retail

July Retail Sales Edge Higher as Summer Goods Make Way for Fall Gear

shopping
Thinkstock
Retailers are announcing July U.S. same-store sales figures Thursday. Research firm Retail Metrics projected an overall gain of 4.5% year-over-year, below the 5.5% sales gain posted in June. July is a transitional month for retail sales as summer goods are cleared out to make way for fall and back-to-school items.

The number of retailers reporting same-store sales has declined significantly over the past few years, but the reported numbers do provide a kind of interim report on the quarter’s performance at the country’s retail stores. Upscale luggage maker Tumi Holdings Inc. (NYSE: TUMI) is scheduled to report quarterly results after markets close. Here is a rundown on stores that reported sales Thursday morning:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales for July rose 5%, a point below the June increase. That is slightly below the Retail Metrics estimate for a gain of 5.2%, including gasoline sales. Net sales for the month totaled $8.55 billion.

L Brands Inc. (NYSE: LB) said same-store sales for July rose 6% compared with last year. Retail Metrics had estimated a rise of 1.8%. L Brands operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. Net sales rose 8% to $735.3 million in July.

ALSO READ: Back-to-School Season Isn’t What It Used to Be

The Buckle Inc. (NYSE: BKE) reported same-store sales for July that rose 0.5%, compared with the same period a year ago. The Retail Metrics estimate called for a drop of 0.7%. Net sales increased 2.3% and totaled $79 million for the month.

Stein Mart Inc. (NASDAQ: SMRT) reported a 0.8% increase in same-store sales for July, well below the 4.2% positive growth estimate from Retail Metrics. In July of last year, sales rose 3.4%. Total sales for July came in at $75.3 million, up 0.9% from a year ago.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-store sales increase of 3.5% for July. Retail Metrics estimated a rise of 2.8%. Total sales for the month were $62.8 million, up 11.9% over July of 2013.

The Gap Inc. (NYSE: GPS) is expected to report same-store sales growth of 0.6% after the markets close. Last year Gap stores posted a same-store sales gain of 7% in July.

Costco shares were down about 1.3% Thursday morning to $118.12. The stock’s 52-week range is $109.50 to $126.12.

L Brands’ shares were up 3.8%, at $61.42 in a 52-week range of $50.78 to $67.12.

Stein Mart’s shares were also up, about 0.5% to $13.38, in a 52-week range of $11.53 to $16.17.

Zumiez’s shares traded up about 0.3%, at $30.10 in a 52-week range of $20.68 to $30.90.

The Buckle’s shares traded up about 1%, at $46.69 in a 52-week range of $41.45 to $53.67.

ALSO READ: Could Target Be the Next Sears?

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.