US Apparel Retailers Rebound In Same Store Sales In August

The hot and dry weather in the United States, coupled with a stronger consumer confidence index, has led to a rebound in the same store sales in August.

According to the first hand data presented by Retail Metrics research, the US overall

Same store year-on-year sales rose moderately by 0.8%, a year-on-year decline of 1.7% in July, indicating room for improvement.

Ken Perkins, chairman of Retail Metrics research group, said that for retailers, the unemployment rate is below 5%, which will result in a bonus effect in the context of overall economic time and space.

In August, consumer confidence rose to a new high in 2016. Personal income rose steadily by 0.4% in July. The housing market was in good condition. The Atlanta fed GDPNow model currently expects the actual GDP growth in the third quarter to grow by 3.5%.

Macro data show that consumption should be robust, and retailers generally benefit.

Winners and losers

Except for one family,

Retailers still reported a drop in the same store year-on-year sales report in August, while another company reported a two digit decline.

The cowboy expert The Buckle showed the worst performance and the same store's year-on-year sales fell 14.8%, marking the company's sixth consecutive two digit declines and the same store sales decline for fourteenth consecutive months.

The retailer operated 470 retail outlets, and its net sales fell 14% to $87 million 200 thousand over the past 4 weeks from $101 million 400 thousand last year for the 4 weeks ended August 27th.

The headquarters is located in San Francisco.

The Group operates about 3300 self operated stores and 450 franchisees, and the same month sales are negative for fifteenth months, and net revenue tends to decline in August.

Last year, a decrease of 2%, the same store year-on-year sales fell 3% this year, higher than analysts forecast 2% decline.

Gap group's brand Banana Republic and its brand name Gap declined 10% and 5% respectively in the same store in July.

Another discount division, Old Navy, is the best performer and is still actively gaining 1% of the gain compensation, making it the only brand beyond expectations.

Gap finance director Sabrina Simmons said the group is still focused on improving the global sales performance of all brands, while Stifel analyst Richard Jaffe believes that the company's aggressive cost cutting and restructuring plan will not help improve the attractiveness or long success of Gap or Banana Republic brands.

Meanwhile, low price fashion and accessories retailer Cato Corp continued to show a negative trend in the same store year-on-year sales in this (2016) August, and is still lower than the company's forecast, down 8%.

Net sales in August fell 7% to $62 million.

The retailer has 1373 brands including the Cato, Versona and It's Fashion formats.

L Brands, the parent company of Victoria's Secret, Pink and La Senza, had the most stubborn performance in August, and the same store year-on-year sales growth in August was 2%.