NEW YORK - Affluent and fashion-conscious consumers continued to spend in the opening days of the holiday season, boosting luxury retailers and stores with the right fashion mix - while other sectors suffered the unseasonable weather, according to same store sales numbers released today.
Wal-Mart’s comps for November dropped 0.5, the company’s first same store sales decline in many years. Despite the weak month at Wal-Mart November wasn’t bleak for the entire mass merchant sector, conversely Target reported a same store sales gain of 5.9 percent. Costco, Stein Mart, and TJX Cos. turned in sales gains of 4, 3.8, and 3 percent respectively.
Luxury department stores continued to report strong comp sales with Federated increasing 5.8 percent over last year. Saks Fifth Avenue and Nordstrom were up 7.2 and 5.8 percent respectively. Neiman Marcus’ sales increased 2.9 percent. Middle of the road department stores Kohl’s and J.C. Penney also did well, turning in 3.7 and 1.4 percent same store sales gains respectively.
The specialty sector was, as usual, a mixed bag. American Eagle and Limited’s Bath and Body Works and Victoria’s Secret banners turned in the strongest performances for November, with 14, 16, and 14 percent gains respectively. Zumiez and Guess also did well in the early holiday season, both posting 12.1 percent same store sales gains. Banana Republic, Gap, Ann Taylor, Abercrombie & Fitch, and Old Navy were among the stores reporting declines in same store sales.
For complete coverage see tomorrow's issue of WWD.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
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Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews