Large U.S. retailers today reported mixed December sales results, many of which missed analysts’ expectations for holiday sales.
Target Corp.’s comparable store sales were flat. Macy’s Inc. managed to post a 4.1-percent same-store gain, while, Kohl’s Corp. checked in with a 4.0-percent increase and The BonTon Stores Inc.’s comparable store sales increased 2.4 percent.
Kevin Mansell, chairman, president and chief executive officer of Menomonee Falls-based Kohl’s, said, “December sales were lower than planned. Additionally, sales came late in the holiday shopping season and, as a result, were at deeper discounts than planned. We are taking the necessary markdowns in the fourth quarter to manage our inventory as we transition into the spring season.”
Brendan Hoffman, president and chief executive officer of BonTon Stores, which has headquarters in Milwaukee and York, Pa., said, “We are pleased to report a 2.4% same store sales increase in December, despite several days of challenging weather which adversely impacted our post-Christmas sales event. Our eCommerce business once again posted double-digit sales gains. Fine jewelry, ladies’ sportswear and dresses across all sizes, along with ladies’ outerwear and shoes were our best performers. We ended December with less clearance inventory, which should position us well as we transition into the spring season.”
