May Same-Store Sales Could Clear a Low Bar

Retailers are announcing May U.S. same-store sales figures Thursday morning. Research firm Retail Metrics had forecast a year-over-year decrease of 0.5% for the month. In April, same-store sales were down 0.7%.

Gap Inc. (NYSE: GPS) is expected to release sales figures after markets close Thursday. Retail Metrics expects same-store sales to drop 8% year over year, with the company’s Banana Republic sales falling 11.2%, compared with a 5% drop in May 2015.

Here are results from the stores we track:

Buckle Inc. (NYSE: BKE) reported same-store sales for May fell 11% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 12%. Net sales for all stores fell 10.4% and totaled $67.4 million for the month. These results include the impact of both reward redemptions and accruals for estimated future rewards related to Buckle’s new loyalty program.

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Buckle’s shares were inactive in Thursday’s premarket, having closed at $24.85 on Wednesday, up about 0.5% for the day, in a 52-week range of $22.00 to $47.36.

May same-store sales at Costco Wholesale Corp. (NASDAQ: COST), including gasoline sales and foreign exchange effects, reportedly were up 1% in the United States, down 1% in Canada and down 3% internationally. Globally, same-store sales were flat compared with May 2015. Excluding gasoline and currency exchange effects, U.S. sales rose 4%, Canadian sales rose 6% and international sales rose 3%. On the same basis worldwide, same-stores sales in the quarter rose 4%. Net sales for the month totaled $9.23 billion, up 3% year over year. Retail Metrics had projected a same-store sales rise 0.9% (up 2.5% excluding gasoline sales).

Costco shares traded down about 1.5% in Thursday’s premarket to $150.20, after closing at $152.52 on Wednesday. The stock’s 52-week range is $117.03 to $169.73.

Compared with last year’s sales, L Brands Inc. (NYSE: LB) said same-store sales for May were flat. Retail Metrics had estimated a drop of 3.5%. L Brands operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel stores. The largest gain came from the company’s Bath & Body Works, up 3% year over year in the month. Net sales rose 2% to $816.6 million in May.

L Brands’ shares traded up about 2.3% in Thursday’s premarket session to $70.00. Shares closed at $68.41 on Wednesday, and the stock’s 52-week range is $60.00 to $101.11.

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