Top and Bottom 5 Retailers of June

The ongoing struggles and uncertainties in the general economic climate, from the precarious fate of Europe's financial health to election-year gridlock in the U.S., are dampening the retail industry's efforts at recovery. With customers feeling insecure, off-price items continue to "fly" off store shelves, a trend that is expected to continue throughout 2012, according to analyst J. Philip Leichliter of J. Philip Group LLC. However, the news is not totally bleak.
"Results were mixed, with several retailers missing expectations," says Leichliter of the June 2012 same-store sales results. "Generally speaking the only sector that did well is Off-Priced Retail, which outperformed both the market and the expectations of the street."
On the positive side, only seven retailers out of the 20 that measure results on a monthly basis reported negative same-store sales.
Top 5 Retailers (based on same-store sales for June 2012 compared to June 2011. Seven companies are listed due to a three-way tie in third place):
Zumiez                                 +8.2%
Nordstrom                             +8.1%
TJX Co.                                 +7.0%
Limited Brands                      +7.0%
Ross Stores                          +7.0%
Saks                                     +6.0%
Costco                                  +5.0%
Zumiez once again maintained its position as the top performing retailer for June, posting an 8.2% increase in same-store sales. Other retailers posting gains include Saks and Costco, which increased same-store sales at 6% and 5%, respectively. Tied with a 7% increase were TJX Companies, Limited Brands and Ross Stores.
In a statement, Carol Meyrowitz, CEO of The TJX Companies said, "We are very pleased our strong trends continued in June. Our 7% consolidated comparable store sales increase significantly exceeded our expectations and was achieved over 5% growth last year. It is great to see such consistent, strong performance across the Company, with all of our businesses in the U.S., Canada and Europe continuing to deliver excellent results. Customer traffic during the month increased substantially at every division."
Bottom 5 Retailers (based on same-store sales for June 2012 compared to June 2011):
Cato Corp                            -10.0%
Wet Seal                              -9.0%
Kohl's                                   -4.2%
Fred's                                   -4.0%
The Buckle                            -2.5%
Cato Corp led the Bottom 5 with a 10% loss, while Fred's and The Buckle also made the list with 4% and 2.5% losses respectively. Wet Seal and Kohl's remained among those performing below market expectations.
"Though June sales were again lower than expectations, we are encouraged by improved sales in the latter weeks of the month as we continued to build inventory levels," said Kevin Mansell, Kohl's CEO in a statement.
For related content:
Top 5 and Bottom 5 Retailers in December
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