ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, May 10, 1996 TAG: 9605100050
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
DATELINE: ASSOCIATED PRESS STORE OWNERS HAD WIDELY DIVERGENT NUMBERS. COOL
Industry analysts, who look at March and April figures together in assessing how well the stores are doing in the spring, said sales results released by the store owners Thursday indicated the retail climate is making a slow comeback after the disaster of Christmas 1995.
Store owners had widely divergent numbers, with the nation's biggest merchant, Wal-Mart Stores, announcing sales dipped slightly, and second-biggest Sears, Roebuck and Co. posting a big gain.
Some apparel retailers did well, although colder-than-normal temperatures nipped into sales of warm-weather clothes. Gap Inc. had very strong sales, as did some divisions of Limited Inc.
``The basics are strong,'' said analyst Terrence McEvoy of Janney Montgomery Scott Inc., who called overall sales decent but segmented. Stores that sell merchandise for the home did particularly well, he said.
Jeffrey Feiner, an analyst with Salomon Brothers Inc., saw gradual improvement in the underlying tone of business. He predicted retailers would generally have strong first-quarter results because inventory and expense controls offset stagnant sales earlier in the year.
The Salomon Brothers retail index, the investment firm's barometer of sales performance, rose 1.3 percent after a 5.4 percent gain in March. In April 1995, the index rose 7 percent.
Some of the April numbers look weaker than they actually are because Easter arrived early in the month, meaning shoppers bought holiday apparel and other seasonal goods in March, draining away some of April's business. Because of the shift in the calendar, which is an annual phenomenon, analysts and retailers look at sales from both months.
Here are April results reported by major chains operating stores in Western Virginia. The monthly sales are followed by the percentage of change from April 1995, and by the change in same-store sales, a measure of stores that have operated for at least 12 months. Same-store sales are considered a better indicator of a retailer's performance because they remove the impact of extraordinarily strong sales from opening new outlets.
American Eagle Outfitters: sales of $14.8 million, up 10.4 percent from April 1995, same-store sales unchanged.
Bombay Co.: $19.5 million, up 18 percent, up 14 percent.
Charming Shoppes, parent of Fashion Bug and Fashion Bug Plus stores: $78.5 million, unchanged, up 8 percent.
Circuit City: $487.9 million, up 10 percent, down 10 percent.
Family Dollar Stores: $137 million, up 10.2 percent, up 3.3 percent.
The Gap: $370 million, up 26 percent, up 9 percent.
Heilig-Meyers: $103 million, up 11.1 percent, up 1.2 percent.
Hills Department Stores: $115 million, down 10.7 percent, down 14 percent.
J.C. Penney Co.: $1.39 billion, up 1 percent, down 0.7 percent.
Kmart Corp.: $2.53 billion, down 1 percent, up 0.2 percent.
Lechters: $24.9 million, up 1.2 percent, down 3.2 percent.
The Limited Inc.: $529.2 million, up 5 percent, down 3 percent.
Lowe's Cos.: $733.2 million, up 20 percent, up 5 percent.
May Department Stores Co., parent of Hecht's and Payless ShoeSource
stores: $776.8 million, up 10.1 percent, up 3.5 percent.
S&K Famous Brands: $11 million, up 7 percent, up 1 percent.
Sears, Roebuck and Co.: $2.74 billion, up 11.5 percent, up 10.9 percent.
TJX Cos., parent of T.J. Maxx: $547 million, up 100 percent, up 7 percent.
Wal-Mart Stores: $7.24 billion, up 7.1 percent, down 0.6 percent.
Woolworth Corp.: $556 million, down 10.4 percent, down 8.2 percent.
Staff writer Megan Schnabel contributed to this story.
LENGTH: Medium: 86 linesby CNB