Dillard's May same-store sales fall |
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Thu, 07 Jun 2007 13:50
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LITTLE ROCK, Ark. (AP) - Department store Dillard's Inc. said Thursday its same-store sales dropped 2 percent in May due to slower sales in eastern markets and below-average sales of cosmetics.The drop was more than Wall Street expected. Analysts polled by Thomson Financial predicted a same-store sales decline of 1.2 percent for the month.Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance since it counts growth at existing stores rather than newly-opened ones.Dillard's said sales in the central and western regions mirrored the company's average sales performance for May, but sales in the eastern part of the country were below the normal numbers for the month. As of Feb. 3, 125 of Dillard's total 328 stores operated in the eastern region.Although sales of shoes were strong, the company added that cosmetic sales were below the average trend for the time frame.For the four-week period ended June 2, the store said its total sales fell 1 percent to $527.9 million from $533.5 million in the prior year period.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Dillard's March same-store sales rise 