Saturday, September 4, 2010

Back to school sales get an A

One the biggest problems during this recession was the fall in consumption. The figures for August though seem to be more encouraging. Thomson Reuters tracked store sales for a group of 28 national chains. He said that sales in August for this group rose up 3.3%; a much better number than the 2.5% forcasted one. Here we have to consider that Retailers same-store sales declined 2.9% for the same month a year ago. The stores that hit the jack-pot were clothing and department stores.

Limited Brands (LTD, Fortune 500), parent of Victoria's Secret and Bath & Body Works chains, posted a 10% surge in sales last month, trouncing analysts' estimates for a 7.3% increase.

Sales at Abercrombie & Fitch (ANF) jumped 6% in the month, beating estimates for a gain of 5.7%.

Trendy clothing chain Wet Seal reported a 1.1% sales gain versus estimates for a 3.5% decline.





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4 comments:

  1. kevinschindlerSeptember 4, 2010 at 8:22 PM

    http://www.businessinsider.com/back-to-school-shopping-season-is-an-ominous-flop-2010-9
    The link i provided above says almost the exact opposite about back to school sales. The article on the businessinsider.com talked about how sales for this year are actually down from previous years. I wonder why the two sources tell such different storys of back to school spending of 2010.

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  2. JoannaSeptember 4, 2010 at 9:10 PM

    Kevin, that is interesting that the link you found says the opposite. I work in retail and we definitely had our sales rise almost twice what they were the month before in August. Our goal on most days would be 20,000 and we would make over 40,000. Even now we're still making over what we need to, even though school is back in session.

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  3. YanSeptember 5, 2010 at 3:08 PM

    School season do bring profit to economy. Even in recession, students, especially new students need to but a lot of things for their college life. Of course they can choose whether buy the cheap one or expensive one, but at least they have to buy.

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  4. Colin ShortSeptember 5, 2010 at 7:19 PM

    I agree that school season, in a recession or not will bring profits because there are so many people that are in need of school supplies, clothing and even computers. At the time of school season there will always be people looking to buy.

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