January is traditionally a blah month for retailers, filled with post-holiday sales, cold temperatures, and hopes that spring is right around the corner. This one proved no different for many, judging by the same-store sales numbers reported this morning.
Beginning with retail's big dog on the block, Wal-Mart's
Specialty retailers largely performed better than the giants. Gap's
Abercrombie & Fitch
Department stores weren't as lucky. Federated
January closes out the fourth quarter for most retailers, and as you can tell, it was something of a mixed bag. While a few companies fared well, that's largely due to cost-cutting, not significant revenue growth. We need to see that growth return before feeling assured of a strengthening retail environment.
LouAnn Lofton owns shares of Abercrombie & Fitch and Gap.