The Us Back To School Season Is Bad At First But Better Than Expected.
According to the initial reports released by several retailers on Wednesday (including J.C. Penney and Kohl s), Wall Street's expectations were affirmed: the return season was unfavorable at the beginning of the sales season.
Sales performance was poor in August and sales figures for August were somewhat frustrating as retailers were preparing for the key holiday season.
J.C. Penney claims that its same store sales fell 4.9%, slightly better than the 6.3% expected by Reuters analysts. Penney also predicts that same store sales will drop by 5-9% in September. The same store sales performance refers to the sales of stores that have been open for at least one year, and is regarded as an important indicator for the healthy operation of a retailer.
Kohl 's announced that same store sales fell 5.8%, less than 7.6% expected by analysts.
Walgreen company's same store sales grew 0.9% in August, below the 3.2% expected by analysts.
Cost- co wholesale company has the best performance. In August, the same store sales increased by 9%, and the contribution rate of natural gas prices was the largest. Analysts expect growth of 9.6%. If it does not include natural gas prices, Costco 's sales in the same store in the United States will grow by 6%.
The biggest problem is the lack of disposable income for shoppers. Their salaries have not risen synchronously with the soaring prices of basic consumer goods and will not change in the short term.
The CEO of Penney expects that the weak business environment will continue until 2009.
The latest report released on Wednesday showed uneven sales. Last month, Penney said that women's clothing and household footwear sales were the best, but jewelry and household accessories were the worst.
The president of Kohl s said that some traditional return to school products sell well, such as shoes and children's clothing, but other products are more difficult to sell, such as male teenagers and female teenage clothing.
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