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May 10, 2007
Spring Brings Moderate Gains To Retailers
Spring has been tough for many mass market retailers, who reported same store declines for March and April, but upscale operations are weathering the store with moderate gains.
Nordstrom reported a 3.3 percent gain in same-store sales in April and Federated, which owns Macy’s and Bloomingdale’s, cited a 2.2 gain. Saks was the clear winner with a sales surge of 11.7 percent for the month.
In comparison, Gap reported a 7.1 percent decline for the period, and Abercrombie & Fitch’s sales fell by 15 percent.
Blacks's Take: High gas prices and an uncertain economy will continue to affect mass market players more than high-end operations with wealthier customers.
Posted by Blacks on May 10, 2007 11:32 AM
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