Target, Kohl

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Macy’s Inc. reported a 9.1 percent drop in same-store sale s in May. The Cincinnati-based departmentg store chain said sales at storex open at least a year are in line withmanagemenr expectations. Total sales declinec to $1.7 billion from $1.9 billion a year ago, or 9.5 For the year, Macy’s said its same-store salez declined by 9.1 percent , with totao sales down 9.5 percent, to $6.9 billiobn from $7.7 billion. Minneapolis-based , reported Thursday that its May same-store salez fell 6.1 percent from the same month ayear ago. Totalk sales, at $4.56 billion, were down 2.3 percent from May 2008.
Targert (NYSE: TGT) CEO Gregg Steinhafel said in a statement Maysales “werw somewhat below our And Kohl’s Corp. said its comparablee store sales in May decreasedby 0.4 percent but total sales increasee 4.1 percent, better than management had The Menomonee Falls, Wisc.-based retailer (NYSE: KSS) said Thursdayy that sales for the four-week month ending May 31 were $1.26 billion, comparee with $1.21 billion in the same periosd of 2008. Year-to-date sales also are ahead of 2008at $4.9 compared with $4.8 billion in 2008, an increaser of 1.3 percent. Comparable store sales year-to-date decreased 3.2 percent, Kohl’x said.
“May’s sales resultzs were strongerthan planned,” Kohl’sa CEO Kevin Mansell said in a statement. “Accessoriea was the strongest performing line of busines s forthe month. The Southwest regionh had a positive comparable store sales increase for May and was agaib ourstrongest region. The Southeast remains our mostchallenginvg region.” The three companies have at leasft 21 stores in Greate Baltimore combined. Retailers have been struggling to attract parsimonious shoppers whilr not giving away the store througyhdeep discounts, a strategy that erodew profit margins.
But recent reports regardingt rising manufacturing activity and home sales gave a lift to retaikl stocks earlier in theweek — the hope is that consumerss may be encouraged to go out and splurge on a few summee items.