Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, October 8, 1993 TAG: 9310080217
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE: Knight-Ridder/Tribune
DATELINE: CHICAGO LENGTH: Medium
That demand was most evident in apparel sales. Many large retailers, including Sears, Roebuck and Co. and Kmart, reported clothing sales picked up with the Labor Day weekend.
On a comparable-store basis - comparing only stores operating at least a year - Sears said sales were up 10.3 percent from year-ago levels, while Kmart sales were up 3.9 percent.
The giant discounter Wal-Mart saw sales jump 9 percent in comparable store, underscoring the continued shift in market share to discounters, said Sandra Shaber, a senior economic adviser at The WEFA Group in Philadelphia.
The growth in sales occurred despite reports of lackluster consumer confidence, said David Kelly, a consumer specialist at The Boston Co. in Boston.
Consumers had "glum faces, but full bags" last month, he said.
Kelly's index of sales by major retailers increased 6.4 percent for the month.
September results support ideas of robust growth, said Dan Seto, an economist with Nikko Securities International in New York.
Catherine Cooper, retail analyst for Kemper Securities Inc., however, said she "would be surprised" if October retail sales were as strong as September's. Most September growth came from purchases delayed in August, she said.
In addition, comparative sales figures will be tougher to match in November and December, she said. Last year, sales received a boost from an Election Day pop in consumer confidence.
Among national retailers operating in Western Virginia:
\ Circuit City Stores Inc. had sales of $299.3 million, up 26 percent from September 1992, and a 4 percent increase in comparable-store sales. Richard L. Sharp, president and chief executive officer, said the comparable-store results reflect continued weakness in the Southern California economy and difficult comparisons with last year's hurricane-stimulated sales in southern Florida.
\ The Dress Barn Inc. had sales of $46.8 million, up 20 percent overall, and a 5 percent increase in comparable stores.
\ Charming Shoppes Inc., operator of Fashion Bug stores, had sales of $129.2 million, up 15 percent; comparable stores were up 6 percent.
\ Kmart Corp.'s Waldenbooks stores reported flat sales, but they were up 2 percent at comparable stores. OfficeMax sales were up 157.8 percent overall and 25.7 percent at comparable stores. Also among Kmart's holdings are PayLess Drug Storesand The Sports Authority.\ Hechinger Co. reported sales of $209.0 million, up 14 percent. Comparable-store sales were up 11 percent.
\ The May Department Stores Co., which owns Hecht's stores and Payless ShoeSource, reported sales of $1.1 billion, up 9.3 percent. Comparable-store sales rose 6.8 percent.
Cataloger\ Spiegel Inc. reported total sales of $213.5 million, up of 21 percent. Comparable-store sales rose 13 percent. Spiegel's businesses include Eddie Bauer, New Hampton, Crayola Kids, E STYLE and For You from Spiegel.
\ Woolworth Corp. reported sales declined 0.4 percent to $910 million. Domestic comparable-store sales rose 1.4 percent.
by CNB