Same Store Sales
Best Buy: Same-store sales +2.7%
A new program called “Renew Blue” helped to cut costs and at the same time increase sales. The program goal is to increase online business, enhance in- store customer experience and leverage multi-channel capabilities. This successful approach helped to offset the decrease in sales for consumer electronics. In addition, several mini stores such as Samsung and Sony Home Theater, Pacific Kitchen and Home and Magnolia Design Centers are contributing to sales.
Big Lots: Same-store sales +2.8%
An increase with in-store basket size helped drive the sales, with guidance from the company’s strategy of “Raise the Ring” to deliver better results. Best performers were consumables, seasonal and furniture in particular mattresses. Additionally sales from a drugstore liquidation deal and the company’s home event helped with the revenue.
Costco: Same-store sales +2%
Although there was a small growth in sales, overall revenue was lower than expected and impacted by the price of gasoline and foreign exchange fluctuations. In addition, back to school sales were less than expected due to consumers having limited discretionary dollars to spend
CVS: Same-store sales: +0.5%
Drop in sales reflect decision to stop selling tobacco products. CVS as the largest provider of prescription drugs in the U.S. will continue to expand with consolidations affecting insurer and drug makers such as nursing home pharmacies and One Minute Clinics in retail locations across the states. It recently acquired Target Corporation pharmacies and clinics.
Dick’s Sporting Goods: Same-store sales +1.2%
Strong gain of 24.4% in e-commerce sales due to leveraging the Omni channel presence to generate more revenue growth. The e-commerce operation moved in- house, which also contributed to overall savings and sales growth. Dick’s ownership of stores increased from 659 to 709.
Dollar General: Same-store sales +2.8%
Customer traffic and average basket spending increased. Continued goal to provide clients with everyday low prices and convenient locations. Stores that were unprofitable were closed, but new stores were opened in promising locations. Candy, snacks, tobacco products and perishables were top performers, along with seasonal items, sundries, hardware and housewares.
Home Depot: Same-store sales +4.2%
Consumers feel their home is an investment and not an expense, and in turn sales reflect that thought. In addition the home market is improving with selling of homes and new ones being built.
J.C. Penney: Same-store sales +4.1%
Continued increase in sales with the top performers being the Men’s Home, Sephora and fine jewelry. Across the country all stores performed well, but the best were western and central regions. Long term goal on boosting private brands and to increase the purchase level of each customer.
Kmart: Same store sales -7.3%
Weak revenue from electronic goods, grocery, household, apparel and drugstore. Strong areas of growth were in the home appliances and toys.
Lowe’s: Same-store sales +4.3%
Strong growth in areas with big ticket prices such as appliances and outdoor power equipment, but home improvements are still the core business. Improving home market is contributing to new building items and home improvement products selling well.
Kohl’s: Same-store sales +0.6%
Sales results were not strong due to the shift of revenue in tax free states from July to August, which were larger than anticipated. The inventory for back to school and fall season were well positioned, however sales were less due to weak seasonal demand. The store is going to open up its first “Off the Aisle” by Kohl’s to sell returned merchandise at a discount
Macy’s: Same-store sales -1.5%
The removal of the promotion Friends and Family, plus Port slowdown and late merchandise problems contributed to the loss. Macy’s is selling Brooklyn and New York City properties, and at the same time developing a new store in downtown New York City- Fulton Street. It will also join in with China with an e-commerce agreement. Blue Mercury’s self-standing stores within Macy’s continue to do well
Michael’s: Same-store sales +2.9%
Adult coloring books continue to be a big seller. A partnership with online Darby Smart occurred with expected results to increase online sales. Michael’s opened 9 new stores during 2015. Rainbow Loom products continue to be the best seller.
Nordstrom: Same-store sales +4.9%
The full line stores are the core of the brands, reflecting the high sales. The growth of the Rack Store is the biggest source of new customers, with over 4 million new buyers. Plans are to open 16 more stores. Nordstrom Rewards loyalty program also contributed with its members being frequent shoppers.
Sears: Same-store sales -14%
Decline in sales directed the store to continue to shift away from low profit margin goods such as electronics, lawn and garden supplies, and to increase its efforts towards the loyal customer program “Shop Your Way”. This rewards program makes up 74% of its customer base. A continued area of growth has been the mattress category.
Staples: Same-store sales -2%
On track to acquire Office Depot by end of 2015. Copy and print sales (ink& toner) departments grew strongly. Continued area of growth in delivery businesses and categories beyond office supplies – such as sign/banner creations. Staples.com is still an area of growth. Plan to close 212 stores in North America during 2014-15 as cost saving factor.
Target: Same-store sales: +2.4%
Sales were very good for the category of Signature brands for baby, style, kids and wellness. The digital channel saw growth of 30% and this trend will continue. Bottom line spending was carefully watched and also contributed to overall increase of revenue. Future endeavors will be to improve operations more as key shopping periods come up.
TJX companies: Same-store sales +6%
Sales were driven by store traffic increase. The store merchandise continues to offer eclectic and exciting wares at outstanding values. The store has loyal customers who come back regularly.
Walgreens: Same-store sales +6.3%
As a result of the Walgreens and Alliance Boots merger, sales increases are reported as combined. Goal is to improve operations, reinvesting in pharmacy and restructuring the cost base with a more efficient cost model and a pharmacy-led health care.
Walmart: Same-store sales +1.5%
Neighborhood Marketing and local products delivered an increase in sales of +7.3% which helped to offset currency fluctuations lower Walmart margins and consolidate operating incomes losses. Additional profits were hurt by increases in wages, additional hours added on to employees and headwinds from pharmacy reimbursements (cash versus insurance) and select closing of Walmart stores
Members of the News/Media Alliance staff have contributed to this post.
