Merchants & retail chain business owners are having their worst gross monthly sales in July of this year. This might be a prior signal that the second-largest business selling season of 2009, which started in July, will be economically getting much lower than everyone expected.
The experts & sales trackers used a useful gauge to measure a retailer's business performance through their sales at stores. This gauge is named “Same-store sales” It was found that most of the nation’s topmost retail businee chains specially mall-based retail-sellers, retail business chains for teen clothing ,big departmental stores and even discounter retailers , suffered from fall down of “same-store sales” in the month of July.
According to Thomson Reuters, who tracks “same-store sales” per month for more than 30 retail chains, total business sales for the month of July in the retail group decreased by 5.1%, with comparison to a increase of 1.1% in July 2008 .July's downfall is marked as the 11th month of sales declines. Reports said that more than 50% of the retail chain has missed their estimated sales target for the 1st month of 2nd quarter.
The business sales figures of June 2009 was the second worst monthly same-store sales decline of the year after the January's performance of decrease by 5.7%.
Some figures of July sales:
* Discounter Target (TGT, Fortune 500)'s sales by 6.5% (expected 5.8%)
* Macy's (M, Fortune 500) sales downfall by 10.7% (expected 9.1%)
* J.C. Penney’s sales downfall by 12.3% (expected 13% to 16 %.)
* Gap Inc’s sales downfall by 8%
* Abercrombie & Fitch’s sales downfall by 28%
However, Kohl’s, one of the medium-priced business retail departmental store chain, just slipped from the downfall, having 0.4% increase in July, while Nordstrom, one of the high-end retail chain got 6.9% downfall , better than expected 11.1% .
The most probable reason which hampers the prime business sales volume in July might be the hesitation of parents, waiting to make their all school-related shopping in August as they can save money when the tax-free shopping events will be in the market.
0 comments:
Post a Comment