Same Store Sales Decline in November

2008-12-04 | 07:11

Wal-Mart proves the exception to the rule.

With the economy in recession, no doubt consumers like a bargain, and last month, Wal-Mart was more than willing to give it to them. While most retailers reported a decline in same store November sales, Wal-Mart reported a 3.4% gain.

That's the good news. Elsewhere, department store and specialty retailers reported double-digit declines. Macy’s Inc. fell 13.3%, and The Bon-Ton Stores dropped 16%.

However, Terry Lundgren, chairman, president and chief executive officer of Macys, noted, “November ended with a strong Thanksgiving weekend, including the largest Black Friday in the history of our company.”

Among specialty retailers, The Buckle reported a 15% drop, American Apparel fell 6% and Abercrombie & Fitch fell  28%.