Apparel Stores Outperform Other Retailers
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Apparel stores, boosted by sales of Easter and spring merchandise, continued outperforming the rest of the retailing industry during April, according to figures released Thursday by a number of big store chains.
Analysts said department stores, which have lagged the specialty retailers for some time, showed signs of improvement.
Limited Inc., the nation’s largest specialty apparel retailer, posted a 16% gain at stores open at least a year and an 18% overall increase.
Gap Inc., another big apparel retailer, reported its comparable-store sales jumped 25% last month as overall sales gained 31%.
Clothing is “the key item that’s continuing sales growth,” said Karen Sack, a retail industry analyst with Standard & Poor’s Corp.
Results from stores open a year or longer--known as same--or comparable-store sales--give a more accurate reading of a retailer’s performance. Industry analysts therefore give them more weight than overall sales figures.
Several of the nation’s biggest retailers--including Sears, Roebuck & Co; Wal-Mart Stores Inc.; J. C. Penney Co., and Woolworth Corp.--reported their April results a week ago, and they also reflected the split between sales of apparel and more expensive items.
Analysts said consumers, burdened by high installment debt, continue to be wary of such expensive purchases as large appliances.
MAJOR RETAILERS’ SALES IN APRIL
In millions % of dollars 1990 change K mart 2,420 +15.9 Dayton Hudson 947.0 +11.7 May Dept. 752.9 + 14.3 Limited Inc. 362.5 +18.0 Carter Hawley Hale 191.2 + 2.1
Some top retailers do not report their sales monthly, including Federated Department Stores Inc., Allied Stores Corp., Campeau Corp., R. H. Macy & Co., and Batus Inc. Montgomery Ward & Co., a privately held retailer, has stopped releasing its monthly sales.
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