September Songs

Wal-Mart Stores Inc. (Bentonville, Ark.) reported a 10.4 percent increase in net sales for the five-week period ending Oct. 4, 2002. Sales for the 35-week period increased 12.2 percent.

The Wal-Mart division's sales for the five-week period were up 11.3 percent and for the 35 weeks up 13.7 percent.

Same-store sales for all retail divisions were up 3.3 percent for the month, 6.2 percent for the three quarters. Wal-Mart store same-store sales were up 3.6 percent for September, 6.7 percent year-to-date. A year ago, Wal-Mart Stores was enjoying a 6.7 percent same-store gain.

Sam's Club continued to founder, relatively, with only a 1.6 percent same-store gain for September.

Nordstrom Inc. (Seattle) reported a preliminary sales increase of 6.6 percent for September 2002, and same-store sales increased 1.7 percent. The company said its sales performance increased during the period immediately following Sept. 11, 2002, but declined later in the month as it did not repeat the successful Fall Sale event that it held a year ago, from September 28 through October 8.

Preliminary year-to-date sales were up 5 percent, but same-store sales were down 0.5 percent.

Limited Brands (Columbus, Ohio) reported that same-store sales jumped 6 percent for the five weeks ended October 5. Net sales were up 8 percent.

For the 35 weeks ending Oct. 5, 2002, same-store sales were up 4 percent and net sales were up 7 percent.

Among the retailer's individual brands, Victoria's Secret same-store sales jumped 16 percent in September, 7 percent year-to-date; Bath & Body Works was up 2 percent in September, down 4 percent year-to-date; Express was up 3 percent in September, up 4 percent year-to-date; Lerner New York same-store sales were flat in September, up 4 percent year-to-date; Limited Stores was up 8 percent in September, up 12 percent year-to-date. Every one of these brands had suffered same-store sales declines a year ago for both the month of September and for the first nine months of 2001.

Year-to-date, the multi-brand retailer has opened 86 new stores and closed 96, and now operates 4614 stores. Much of the activity has centered around its closing of old Structure stores and integrating the men's apparel chain into dual gender Express stores.