A Good Start to the Holiday Selling Season

When the weather outside is frightful, mall shopping suddenly seems delightful. A combination of heavy promotion and colder weather, helped most retailers ended November with same-store sales ahead of both last year’s levels and analysts’ expectations.

The month benefited not only from a strong kickoff to the holiday shopping season on Black Friday but to a more seasonal weather pattern that boosted sales of cold weather apparel for both personal use and gift-giving.

Especially strong performances were reported by Limited Brands, with a comparable-store sales gain of 10% highlighted by a 13% jump at Victoria’s Secret, and Abercrombie & Fitch Co., which more than tripled its expected comp increase with a 22% gain. Zumiez Inc. again impressed with a 20.7% advance.

Aéropostale Inc. and Hot Topic Inc. reported declines of 1% and 2.1%, respectively, while The Buckle Inc. was up 7.9% and The Wet Seal Inc. ahead 7%. American Eagle Outfitters Inc. reported a flat comp result for the month.

Gap Inc. came up with a 4% gain for the month, with 5% increases at Gap and Old Navy offset by Banana Republic’s flat year-on-year performance.

Department stores continued their recent strong performance pattern. Macy’s Inc. was up 6.1% and Dillard’s Inc. up 8%, and The Bon-Ton Stores Inc. and Stage Stores Inc. managed increases of 2.9% and 2.4%.

In the mass channel, Target Inc. was up 5.5%.