September Same-Store Sales Results Slip Again

Retailers are announcing September 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 and a 1.1% sales increase for the third quarter. If the Retail Metrics estimate comes true, September marks the sixth month out of the first nine of the year in which same-store sales have declined.

After markets close, Gap Inc. (NYSE: GPS) is expected to post a decline of 3.6% across all its stores, with Banana Republic stores diving more than 9%.

Here are results from the other stores we track:

Buckle Inc. (NYSE: BKE) reported that same-store sales for September fell 15.5% compared with the same month a year ago. The Retail Metrics estimate called for sales to drop 10.4%. Net sales for all stores fell 14.8% and totaled $82.9 million for the month. These results include the impact of both reward redemptions and accruals for estimated future rewards related to Buckle’s loyalty program launched in April.

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Buckle’s shares traded down about 2.5% at $23.06 in Thursday’s premarket, having closed at $23.65 on Wednesday, in a 52-week range of $22.00 to $38.30.

Costco Wholesale Corp. (NASDAQ: COST) reported that September same-store sales, including gasoline sales and foreign exchange effects, were flat in the United States, up 6% in Canada and flat internationally. Globally, same-store sales rose 1% compared with September 2015. Excluding gasoline and currency exchange effects, U.S. sales remained unchanged, Canadian sales rose 5% and international sales were flat. On the same basis, worldwide same-stores sales in the quarter rose 1%. Net sales for the month totaled $11.06 billion, up 3% year over year. Retail Metrics had projected a same-store sales dip of 0.1% (up 0.9% excluding gasoline sales).

Costco shares traded up about 0.3% in Thursday’s premarket, at $150.50, having closed at $149.98 on Wednesday. The stock’s 52-week range is $138.57 to $169.73.

L Brands Inc. (NYSE: LB) said same-store sales for September increased 3% compared with last year’s sales. Retail Metrics had estimated that sales would be flat. 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 9% year over year in the month. Net sales rose 6% to $919.9 million in September.

L Brands’ shares traded up about 1.7% in Thursday’s premarket session to $71.75. Shares closed at $70.52 on Wednesday, in a 52-week range of $60.00 to $101.11.

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