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Chain store sales improve
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September 4, 1997: 10:33 a.m. ET
Limited, Wal-Mart, Federated gain, but AnnTaylor has 22.1 percent drop
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NEW YORK (CNNfn) - U.S. stores offered up a barrage of August sales figures Thursday, with AnnTaylor Stores Corp. posting some very unfashionable numbers.
AnnTaylor, the women's specialty retailer said its strategy to strengthen the chain's brand image and improve profitability had hurt its August sales, which declined 22.1 percent compared with the same period last year.
Its total sales were down to $43 million in August. Things could get even worse for the retailer, said Dana Telsey, retail analyst at Bear Stearns.
"They're going to be facing tougher same-store sales comparisons over the next three to four months, so I think it will be difficult," she said.
"They focused a lot on career wear with the suited apparel look. It seems like they have to go back to sportswear, too."
Elsewhere in the apparel store sector, The Limited, Inc. said its sales were up 5 percent in August to $683 million. Talbots, Inc. reported even more of a jump, up 13.2 percent to $57.6 million.
Home specialty retailer Pier 1 Imports Inc. emerged as a clear winner in retail sales figures for August. Its sales were up 20.6 percent to $258 million.
Among the larger store chains, Wal-Mart Stores, Inc.'s August sales gained 7.1 percent to $8.8 billion while Kmart Corp. sales gained 6.4 percent to $2.3 billion for the month.
Federated Department Stores, Inc., which operates under the names Bloomingdale's, Macy's, Rich's and Stern's, edged up 3.5 percent with sales of $1.1 billion.
-- Randy Schultz
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Kmart
Sears
J.C. Penney
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