STUNNING MEDIOCRITY: On the surface, the overall numbers in May were good — Thomson Reuters’ same-store sales index tracked up 4.9 percent with advancers far outnumbering decliners — but fell well short of expectations for a 5.4 percent total. The majority of stores in the Thomson sample — 60.9 percent — missed analysts’ estimates, and three of the six biggest “misses” came from the nation’s largest apparel specialty retailer, Gap, and two of its biggest midtier department stores, J.C. Penney Co. and Kohl’s.
JEWELS AND FUELS: The month’s biggest increase came from Saks, up 20.2 percent, with Neiman Marcus and its 12 percent jump not far behind and Nordstrom’s 7.4 percent well ahead of estimates. While the affluent were clearly out and spending merrily on categories such as jewelry in the month of May, the budget conscious were clearly focused on getting the most out of every shopping excursion, helping both BJ’s and Costco outperform much of the retail field. Having relatively inexpensive gasoline on hand didn’t hurt the club merchants either.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
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