NEW YORK — Retail same-store sales in May were mixed, with positive and negative standouts in each sector.
The specialty retail group showed up the rest of the market, as Wet Seal Inc. and Bebe Stores Inc. posted 56.9 percent and 40.3 percent increases, respectively, for stores open at least a year. On the luxury side, the Neiman Marcus Group reported an 11 percent gain and Nordstrom had a 7.4 percent increase.
Saks Department Store Group posted a 2.6 percent decline; Pacific Sunwear of California Inc. had an 0.4 percent increase and Gap Inc.’s U.S. Gap stores were down 9 percent, while Old Navy reported an 8 percent drop.
J.C. Penney Co. had a 3.5 percent increase and Target Corp. was up 5.1 percent. Wal-Mart Stores Inc. reported a 2.7 percent rise.
Many retailers cited May’s below average temperatures for the sales weakness but denim proved a strong seller among retailers with positive results.
— Meredith Derby
For more, see tomorrow’s WWD.