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Retail Sales Slump in May as Shoppers Prioritize Higher-Priced Items

Strategic Insights

— 1 min read

Retail giants reported mixed results for May sales, with many of the nation's largest chains seeing a decline in sales despite a slight gain from a year ago. Wal-Mart Stores Inc., the nation's top retailer, reported a 4.7 percent increase in same-store sales, while Sears Merchandise Group recorded an 8.8 percent gain. However, other major retailers, such as Los Angeles-based Carter Hawley Hale Stores, reported a 4.2 percent decline in sales, largely due to the effects of the January 17 earthquake.

Key Takeaways:

  • Wal-Mart Stores Inc. reported a 4.7 percent increase in same-store sales for May, while Sears Merchandise Group recorded a 8.8 percent gain.
  • Los Angeles-based Carter Hawley Hale Stores reported a 4.2 percent decline in sales, largely due to the effects of the January 17 earthquake.
  • Dayton Hudson's sales rose 3.5 percent, with a 2 percent decline in Mervyn's sales momentum.
  • Spiegel, Inc. reported a 27 percent jump in sales, with comparable store sales for its Eddie Bauer subsidiary up 7 percent.
  • J.C. Penney reported a 5.4 percent increase in sales, with strongest gains in the home division.
  • Ames Department Stores reported a 5.8 percent decline, citing unseasonable weather and timing issues with advertising.
  • Woolworth's domestic store sales declined 0.5 percent, with 970 stores closed in the United States and Canada in 1993.

Statistics:

  • Wal-Mart Stores Inc. reported a 4.7 percent increase in same-store sales for May.
  • Sears Merchandise Group recorded an 8.8 percent gain in same-store sales.
  • Los Angeles-based Carter Hawley Hale Stores reported a 4.2 percent decline in sales.
  • Dayton Hudson's sales rose 3.5 percent.
  • Spiegel, Inc. reported a 27 percent jump in sales.
  • J.C. Penney reported a 5.4 percent increase in sales.
  • Ames Department Stores reported a 5.8 percent decline in sales.
  • Woolworth's domestic store sales declined 0.5 percent.
  • The earthquake in January 17 affected the sales of Los Angeles-based Carter Hawley Hale Stores.

Sources:

UPI

Wal-Mart Stores Inc.

Sears Merchandise Group

Carter Hawley Hale Stores

Dayton Hudson's

Spiegel, Inc.

J.C. Penney

Ames Department Stores

Woolworth's

Federated Department Stores

Claire's Stores

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