NEW YORK — Between harsh winter storms and the earthquake in Los Angeles, it was a rough January for retailers.
Among the hardest hit were regional discounters and off-pricers.
Those reporting same-store decreases included United Retail, 21 percent; Dress Barn, 18 percent; Clothestime, 15 percent; Ames, 12.5 percent; Filene’s Basement, 12 percent; Charming Shoppes, 9 percent; Catherine’s Stores, 8.1 percent; Value City, 9.1 percent; Caldor Corp. 7 percent, and Venture Stores, 4.2 percent. Among Federated Department Stores’ seven department store divisions, only Burdines in Florida and The Bon Marche in the Pacific Northwest were not affected. Federated’s same-store sales dropped 4.8 percent and total sales were off 3.2 percent to $331 million. Dayton Hudson Corp. posted a 9.3 percent sales increase to $1.1 billion, with same-store sales up 2.9 percent. The company said the earthquake will cut pre-tax earnings by $20 million to $25 million in 1993. J.C. Penney had a strong month, with overall sales rising 5.1 percent to $652 million and same-store sales increasing 4.6 percent. Sears Merchandise Group also posted gains, registering a 9.9 percent sales increase to $1.7 billion and a 7.9 percent same-store sales advance. Another gainer was May Department Stores Co., which had an 8.5 percent sales increase to $539.3 million, with same-store sales up 5 percent.
California-based Carter Hawley Hale Stores Inc. suffered a 12.5 percent sales decline to $100.7 million and a 3.9 percent same-store sales dip. At the Neiman Marcus Group Inc., sales declined 1 percent to $121.1 million, and same-store sales slid 1.3 percent. The Limited’s same-store sales sagged 9 percent, and the company said earnings for the year would drop to about $390 million from $455.5 million in 1992. Combined same-store sales from the women’s apparel business dropped 15 percent, with sales below plan at every division.
The Gap reported same-store sales increased 3 percent and total sales were ahead 12 percent to $177 million.
Among discounters, Wall-Mart Stores managed a 5 percent same-store sales gain and a 22 percent total sales jump to $5.1 billion.
Kmart’s same-store sales edged up 2.1 percent, and sales rose 9.7 percent to $2 billion.