Apparel retailer Limited Brands Inc. (LTD) Thursday reported a 6% increase in comparable store sales for the month of January, while Children's Place Retail Stores, Inc. (PLCE) announced a 12% rise in January comparable store sales. Stein Mart, Inc. (SMRT) posted a 4.9% decline in comps, Wet Seal, Inc. (WTSLA) reported a 3.7% decrease, Buckle, Inc. (BKE) announced a 1.2% drop, and Destination Maternity Corp. (DEST) reported an 8.1% fall in January same store sales.
Limited Brands Inc.
In January, the company's total comparable store sales grew 6% as compared with a 9% decrease last year. Comparable store sales from Victoria's Secret Stores were up 17% versus a 15% decline in the prior-year period. Bath & Body Works Comparable store sales declined 8%, compared to a break even percentage in the same period a year ago.
For the fourth quarter, total comparable store sales rose 1% versus a 10% fall in the previous-year quarter. Net sales for the period grew to $3.07 billion from $2.99 billion in the fourth quarter of prior year.
On average, 14 analysts polled by Thomson Reuters expected the company to generate revenues of $3.01 billion for the quarter. Analysts' estimates typically exclude special items.
Total Victoria's Secret net sales were $1.80 billion as compared with $1.77 billion last year, net sales from Bath & Body Works increased to $1.01 billion from $997.3 million in the year-ago period. Other net sales were $258.3 million compared to $226.2 million in the prior year.
Stein Mart, Inc.
For January, Stein Mart's comparable store sales were down 4.9% versus a 2.5% decrease in the previous year. Net sales for the month was $63.8 million as compared with $67.1 million in the corresponding period last year.
The company noted that ladies' casual sportswear, ladies' Boutique, intimate apparel and home area posted positive comparisons in January, while the most difficult business continued to be ladies' career fashion. The company added that its stores in Mid-West had the strongest sales performances during the month, while those along Gulf Coast were weaker.
President and Chief Executive Officer David Stovall said, "Consistent with this year's inventory management strategy, we had significantly less clearance merchandise this January compared to January last year...while the lack of sale merchandise was challenging in a traditionally clearance month, it did allow us to emphasize full-price selling."
For the fourth quarter, comparable store sales declined 6.1% versus a 3.8% decrease in the prior year, net sales were $341.8 million compared to $363.9 million last year.
At January 30, 2010, the company had 267 stores in operation at as compared to 276 at the same time previous year.
Wet Seal, Inc.
Wet Seal said its same-store sales slid 3.7% as compared to a 14.7% decline in the previous year, while net sales dropped 2.5% to $30.9 million in the month of January.
For the fourth quarter, comparable store sales fell 4.5%, which was in line with the company's expectations, versus a 13.4% decrease last year. Net sales for the quarter slipped 2.5% to $151 million and Analysts expected the company to generate revenues of $151.41 million for the quarter.
The company said it currently expects fourth quarter earnings to be between $0.08 and $0.09 per share, higher than its prior forecast range of $0.06 to $0.07 per share. Analysts anticipate the company to report earnings of $0.06 per share for the quarter.
Chief executive officer Ed Thomas said, "We generated better than expected merchandise margins at both divisions through careful inventory and promotions management, and maintained strong discipline over costs throughout the quarter, which led to our improved expectations."
Children's Place Retail Stores, Inc.
Children's apparel and accessories retailer Children's Place Retail Stores reported that comparable retail sales, which include online sales, increased 12% in January 2010 as compared to a 4% decline in January 2009. During January 2010, comparable store sales increased 12% in the US and 1% in Canada, while online sales grew 34%. Net sales were $95.1 million, up 18% from $80.3 million a year earlier.
Looking ahead to the fourth quarter, the company expects earnings from continuing operations to be between $1.15 and $1.20 per share, including an income tax benefit of about $4 million from excess foreign tax credits. Excluding unusual or one-time items, the company estimates adjusted earnings from continuing operations for the 2009 fourth quarter to be in the range of $0.99 to $1.04 per share. Analysts presently expect the company to report earnings of $0.81 per share for the quarter.
For fiscal year 2009, the company estimates earnings from continuing operations to be in the range of $3.01 to $3.06 per share, including around $0.40 per share for items which the company deems to be unusual or one-time in nature. Excluding these unusual or one-time items, the company anticipates adjusted earnings per share from continuing operations to be between $2.61 and $2.66. Analysts expect the company to report earnings of $2.47 per share for fiscal 2009.
Buckle, Inc.
Buckle, Inc. announced that comparable store sales for the four-week period ended January 30, 2010 decreased 1.2% from comparable store sales in the year-ago period. Net sales for the period rose 4.4% to $50.2 million from $48 million in the comparable period prior year.
For the fourth quarter, comparable store net sales grew 3.8% from the prior-year quarter. Net sales for the 13-week period increased 9.2% to $274.4 million from $251.4 million last year. Analysts expected the company to generate revenues of $270.83 million for the quarter.
Destination Maternity Corp.
Maternity apparel retailer Destination Maternity Corp. (DEST) reported a 8.1% decline in comparable store sales for the month of January. Net sales for the month also dropped 1.1% from the previous year.
The Philadelphia-based retailer's January comparable store sales declined 8.1%, compared to a 5.1% increase last year. After adjusting for the "days adjustment calendar timing shift, comparable tore sales decreased about 8.6%, compared to a 1.1% increase a year ago.
January sales dropped to $38.4 million from $38.8 million in the same month last year, primarily due to the decrease in comparable store sales partially offset by increased sales from the company's leased department and licensed relationships, including sales due to the re-launch of the exclusive Two Hearts Maternity collection in Sears and Kmart stores in October 2009, and increased Internet sales.
LTD is currently trading on the New York Stock Exchange at $20.20 per share, down $0.06 or 0.35%, on a volume of 4.25 million shares. In the past 52-week period, the stock has been trading in a range of $5.98 to $20.90.
PLCE is currently trading on the Nasdaq at $35.71, up $1.34 or 3.78%, on a volume of 1.1 million shares. In the past 52-week period, the stock has been trading in a range of $17.09 to $37.68.
SMRT is currently trading on the Nasdaq at $7.99, down $0.21 or 2.56%, on a volume of 113,301 shares. In the past 52-week period, the stock has been trading in a range of $1.00 to $13.75.
WTSLA is presently trading on the Nasdaq at $3.70 per share, up $0.20 or 5.71%, on a volume of 376,101 shares. In the past 52-week period, the shares have been trading in a range of $2.02 to $4.60.
BKE is currently trading on the NYSE at $29.29, down $2.48 or 7.81% on a volume of 518,042 shares. In the past 52-week period, the stock has been trading in a range of $21.34 to $39.09.
DEST is presently trading on the Nasdaq at $24.21, up $0.08, on a volume of 8260 shares. In the past 52-week period, the shares have been trading in a range of $4.42 to $24.88.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.