NRF: Retail sales in June up 3.2 percent from June 2016

WASHINGTON, 2017-Jul-17 — /EPR Retail News/ — Retail sales in June were essentially unchanged over May on a seasonally adjusted basis, but up 3.2 percent unadjusted from June 2016, according to calculations released today (July 14, 2017) by the National Retail Federation. The numbers exclude automobiles, gasoline stations and restaurants.

“Deflating pricing in retail continues to aggravate measurements of spending in June. Consumers continue to make purchases, but total sales reflects depressed prices on the volume of goods purchased,” NRF Chief Economist Jack Kleinhenz said. “Nonetheless, consumer fundamentals remain solid, with no expectations for spending to cool off in the remaining summer months.

“Given the strength of consumer sentiment and other indicators – housing prices, net worth and use of credit – it’s puzzling to see consumer spending move at a slower pace,” Kleinhenz said.

Sales in June were driven by online and other non-store sales. Building materials and furniture also reported gains, perhaps reflecting a stronger housing market.

Sales increased 3.9 percent on a three-month moving average year-over-year.

Specifics include:

  • Online and other non-store sales increased 0.4 percent seasonally adjusted over May and increased 9.9 percent unadjusted year-over-year.
  • Sales at clothing and accessories stores decreased 0.1 percent seasonally adjusted from May and increased 1 percent unadjusted year-over-year.
  • Sales at general merchandise stores increased 0.4 percent seasonally adjusted over May and increased 2.3 percent year-over-year.
  • Electronics and appliances stores’ sales increased 1 percent seasonally adjusted over May and increased 1.6 percent unadjusted year-over-year.
  • Furniture and home furnishings stores’ sales increased 1 percent seasonally adjusted from May and increased 3.5 percent unadjusted year-over-year.
  • Sales at building materials and supplies stores sales increased 5 percent from May and increased 5.1 percent unadjusted year-over-year.
  • Sporting goods stores’ sales decreased 0.6 percent seasonally adjusted from May and decreased 7.7 percent unadjusted year-over-year.
  • Sales at health and personal care stores increased 0.3 percent over May and increased 0.9 percent unadjusted year-over-year.

About NRF
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:
Treacy Reynolds
press@nrf.com
(855) NRF-Press

Source: NRF

S Group’s retail sales increased by 1.7% in January–June

Helsinki, Finland, 2016-Jul-16 — /EPR Retail News/ — S Group’s sales excluding taxes increased by 1.7% in January–June and stood at EUR 5,336 million. Deregulated opening hours and price reductions attracted more customers to supermarkets, and S Group’s total sales increased as well.

“We are pleased with the deregulation of opening hours. More flexible shopping hours have been well received by our customers. Sales increased in our large and small stores alike, with the total number of customers growing by 8 per cent,” says Taavi Heikkilä, CEO of SOK. S Group’s grocery sales in Finland increased by 4.2% and stood at EUR 3,315 million, with the growth rate clearly outpacing that of the other operators in the sector. In addition, considering the general economic situation, sales in S Group’s other business operations developed favourably. However, sales in grocery stores located at ABC service stations decreased slightly due to the deregulation of opening hours.

S Group’s result for January–June 2016 will be announced on Monday 8 August 2016.

S Group’s retail sales excluding taxes, Jan–Jun 2016

Business area Sales (EUR million, entire S Group) Change in comparison to Jan–Jun 2015 (%)
Supermarket trade 3,764 +3.8
Service station store and fuel sales 735 -6.6
Travel industry and hospitality business 376 -1.5
Department store and speciality store trade 136 -1.1
Hardware trade 93 -3.2
Other 232 +5.5
S-Group total 5,336 +1.7

 

Contact:

Taavi Heikkilä
CEO
SOK
tel.: +358 10 76 80200

Jari Annala
Senior Vice President
CFO
SOK Finance and Administration
tel. +358 10 76 82040

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S Group's retail sales increased by 1.7% in January–June
S Group’s retail sales increased by 1.7% in January–June

 

Source: S Group

UK retail sales decreased by 0.5% in June 2016 YoY – BRC / KPMG

London, 2016-Jul-14 — /EPR Retail News/ — Helen Dickinson OBE, Chief Executive, British Retail Consortium. “Retail sales grew in June, albeit with total growth slowing to 0.2 per cent. While sales did slow towards the end of the month, it is too early to define this as a trend. The month outturn was predominantly driven by a decline in sales in the fashion categories and isn’t a surprise given that June 2015 saw record growth in clothing and footwear. Looking across the last three months, food has held its ground with a better performance than non-food sales, which has seen its lowest growth since April 2012, largely due to fashion combined with a slowdown in furniture.

“Britain’s retailers remain open for business. The EU referendum vote has not changed their relentless pursuit of delivering for customers day in, day out or their investment in meeting the needs of fundamental changes in the way people shop, driven by digital and technology. Despite the fall in the pound, the time it takes for any input price increases to translate into higher shop prices will depend on a combination of factors including further changes in the pound, commodity prices and the challenge for retailers to move pricing given the intensity of competition. So, there won’t be any instant shocks as any changes would take time to feed through.”

David McCorquodale, Head of Retail, KPMG
“Overall retail figures decelerated in June, with sales down 0.5% on a like-for-like basis. As consumer attention shifted indoors to escape autumnal downpours, furniture and home accessories bounced back in the month, with bigger ticket items proving relatively resilient in the days immediately following the EU referendum.

“With May sunshine a distant memory, however, summer wardrobes remained bare as sales of women’s fashion and footwear plummeted following one of the wettest and dullest starts to a UK summer since records began.

“Elsewhere, Euro 2016 kicked things into gear a bit for the grocers, with sales improving 0.8% in the three months April-June. However, the decline on a like-for-like basis suggests food and drink sales continue to be dragged down by the deflationary tide in the sector.

“While the ramifications from the Brexit vote may well affect consumer confidence, retailers will be hoping the long-promised heatwave and potential stay at home holidays will be enough to drive shoppers back to the high-streets over the months ahead.”

Food & Drink sector performance, Joanne Denney-Finch, Chief Executive, IGD
“The surprise result of the referendum appeared to trigger an immediate drop in food and drink spending, which more than offset some modest sales growth earlier in the month. Hopefully, this will prove to be a short-lived shock and calmer waters lie ahead.

“In data tracked throughout June, 56 per cent of shoppers predicted their personal financial situation would stay the same over the next 12 months, up from 29 per cent anticipating this during January 2011. We will be monitoring this figure closely.”

For Media Enquiries:
Zoe Maddison
British Retail Consortium
T 0207 854 8924
E Zoe.Maddison@brc.org.uk

Source: BRC

Barnes & Noble posts $850 million retail sales in FY2016 Q4 and $4.0 billion for the full year

New York,NY, 2016-Jun-27 — /EPR Retail News/ — Barnes & Noble, Inc. (NYSE: BKS) today reported sales and earnings for its fiscal 2016 fourth quarter and full-year ended April 30, 2016.

Retail sales, which include Barnes & Noble stores and BN.com, were $850 million for the quarter and $4.0 billion for the full year, decreasing 2.2% and 1.9%, respectively.  Comparable store sales declined 0.8% for the quarter and were flat for the full year, in-line with Company guidance.  “Core” comparable store sales, which exclude sales of NOOK® products, declined 0.8% for the quarter, while increasing 0.4% for the full year, slightly below expectations of an approximate 1% increase.  Sales for both the quarter and the year were also impacted by store closures and lower online sales.

NOOK sales, which include digital content, devices and accessories, were $42.0 million for the quarter and $191.5 million for the full year, decreasing 20.0% and 27.4%, respectively, due primarily to lower device and content sales.

Consolidated sales were $877 million for the quarter and $4.16 billion for the year, decreasing 3.7% and 3.1%, respectively, as compared to the prior year.

Retail incurred an operating loss of $34.9 million for the quarter and an operating profit of $113.3 million for the year.  NOOK generated an operating loss of $23.1 million for the quarter and $98.6 million for the year.

The consolidated fourth quarter net loss from continuing operations was $30.6 million, or $0.42 per share, compared to a loss from continuing operations of $3.0 million, or $0.12 per share, in the prior year.  Fiscal 2016 consolidated net earnings from continuing operations were $14.7 million, or $0.05 per share, compared to net earnings from continuing operations of $32.9 million, or $0.15 per share, in the prior year.

For the fourth quarter, Retail incurred an EBITDA loss of $11.1 million, which includes a previously disclosed $20.9 million pension settlement charge related to the termination of the Company’s pension plan.  Excluding this charge, Retail EBITDA would have been $9.8 million during the quarter, a decline of $23.3 million versus the prior year, primarily on lower sales, increased promotional activity and higher store wages and benefit costs.

For the full year, Retail generated EBITDA of $215.2 million, inclusive of $35.2 million of charges, including the $20.9 million pension charge noted above, a $10.5 million executive severance charge related to the Barnes & Noble College spin-off and a $3.8 million publishing contract impairment.  Excluding these charges, Retail EBITDA would have been $250.4 million for the year, declining $67.3 million primarily on lower sales, increased advertising, higher store wages and expense deleverage.

Fourth quarter NOOK EBITDA losses were $14.9 million, which included approximately $4.0 million of expenses incurred to further rationalize the cost structure of the business.  These expenses include transitional costs to outsource certain technology functions, consulting fees, Retail integration costs, and expenses to exit the U.K., apps and video businesses.  Excluding these items, NOOK EBITDA losses would have been consistent with the third quarter.

Full year NOOK EBITDA losses were $64.7 million this year as compared to $83.9 million a year ago, a 23% decrease as the Company continues to focus on cost rationalization efforts.

On a consolidated basis, the fourth quarter EBITDA loss was $26.0 million, which includes the $20.9 million pension settlement charge. Excluding the charge, the fourth quarter consolidated EBITDA loss would have been $5.1 million.  For the full year, consolidated EBITDA was $150.5 million, which includes the $35.2 million of charges noted above.  Excluding the charges, consolidated EBITDA would have been $185.7 million for the full year.

Excluding the charges noted above, the consolidated fourth quarter net loss from continuing operations would have been $17.8 million, or $0.24 per share, and fiscal 2016 consolidated net earnings from continuing operations would have been $36.2 million, or $0.35 per share.

Return of Capital
During the quarter, the Company returned $21.5 million in cash to its shareholders, including $11.3 million in dividends and $10.2 million through share repurchases.  The Company acquired approximately 964,000 shares at an average price of $10.61 during the quarter under its share repurchase program.

Outlook
“As we look ahead to fiscal 2017 and beyond, we are focusing on executing a number of initiatives to grow bookstore and online sales, reduce Retail and NOOK expenses and grow our Membership base,” said Ron Boire, Chief Executive Officer of Barnes & Noble, Inc.  “We believe our marketing, merchandising and Membership initiatives will lead to increased traffic and conversion in our stores.  We are also excited about our plans to open four new concept stores opening later this year, beginning with the first store opening this October in Eastchester, NY.  We look forward to discussing these initiatives at our Investor Day.”

For fiscal year 2017, the Company expects comparable bookstore sales to be approximately flat to an increase of approximately 1%. The Company also expects full year consolidated EBITDA to be in a range of $200 million to $250 million, with Retail EBITDA of $240 million to $280 million and NOOK EBITDA losses declining to a range of $30 million to $40 million, including previously announced transitional costs.

Investor Day Webcast
The Company’s senior management will host an investor conference beginning at 9:00 A.M. ET on Thursday, June 23, 2016 to discuss the Company’s financial results, business strategy and longer-term outlook. The webcast of this investor conference can be accessed on Barnes & Noble, Inc.’s corporate website at www.barnesandnobleinc.com/webcasts.

Barnes & Noble, Inc. will report fiscal 2017 first quarter results on or about September 8, 2016.

Financial Tables
Download financial tables related to the sales and earnings for the fiscal 2016 fourth quarter and full-year ended April 30, 2016:

About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company, the nation’s largest retail bookseller, and a leading retailer of content, digital media and educational products. The Company operates 640 Barnes & Noble bookstores in 50 states, and one of the Web’s premier e-commerce sites, BN.com (www.bn.com). The NOOK Digital business offers a lineup of popular NOOK (www.nook.com) tablets and eReaders and an expansive collection of digital reading and entertainment content through the NOOK Store®. The NOOK Store features more than 4 million digital books in the US plus periodicals, comics, apps, movies and TV shows, and offers the ability to enjoy content across a wide array of popular devices through Free NOOK Reading Apps™ available for Android™, iOS® and Windows®.General information on Barnes & Noble, Inc. can be obtained by visiting the Company’s corporate website at www.barnesandnobleinc.com.

Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and information relating to Barnes & Noble that are based on the beliefs of the management of Barnes & Noble as well as assumptions made by and information currently available to the management of Barnes & Noble. When used in this communication, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,” “forecasts,” “projections,” and similar expressions, as they relate to Barnes & Noble or the management of Barnes & Noble, identify forward-looking statements.

Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble’s products, low growth or declining sales and net income due to various factors, including store closings, higher-than-anticipated or increasing costs, including with respect to store closings, relocation, occupancy (including in connection with lease renewals) and labor costs, the effects of competition, the risk of insufficient access to financing to implement future business initiatives, risks associated with data privacy and information security, risks associated with Barnes & Noble’s supply chain, including possible delays and disruptions and increases in shipping rates, various risks associated with the digital business, including the possible loss of customers, declines in digital content sales, risks and costs associated with ongoing efforts to rationalize the digital business and the digital business not being able to perform its obligations under the Samsung commercial agreement and the consequences thereof,

the risk that financial and operational forecasts and projections are not achieved, the performance of Barnes & Noble’s initiatives including but not limited to its new store concept and e-commerce initiatives, unanticipated adverse litigation results or effects, potential infringement of Barnes & Noble’s intellectual property by third parties or by Barnes & Noble of the intellectual property of third parties, and other factors, including those factors discussed in detail in Item 1A, “Risk Factors,” in Barnes & Noble’s Annual Report on Form 10-K for the fiscal year ended May 2, 2015, and in Barnes & Noble’s other filings made hereafter from time to time with the SEC.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Barnes & Noble or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Barnes & Noble undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this communication.

Media Contact:
Mary Ellen Keating
Senior Vice President,
Corporate Communications
Barnes & Noble, Inc.
(212) 633-3323
mkeating@bn.com

Investor Contact:
Andy Milevoj
Vice President,
Investor Relations
Barnes & Noble, Inc.
(212) 633-3489
amilevoj@bn.com

Source: Barnes & Noble, Inc.

Sainsbury’s Q3 total retail sales down 2.5 per cent (inc fuel); 29.5 million customer transactions in the 7 days before Christmas

LONDON, 2015-1-7 — /EPR Retail News/ — Good sales performance in a tough market.

  • Total Retail sales for third quarter down 0.4 per cent (excl fuel), down 2.5 per cent (inc fuel)
  • Like-for-like Retail sales for third quarter down 1.7 per cent (excl fuel), down 3.9 per cent (inc fuel)
  • Over 29.5 million customer transactions in the seven days before Christmas
  • Over 1,000 product prices reduced since we announced our £150 million price investment

Mike Coupe, Chief Executive, said: “Sainsbury’s has provided a great Christmas for our customers. Food price deflation and falling fuel prices have enabled our customers to treat themselves over the festive period.

“Customers traded up over Christmas as sales of our Taste the Difference range grew by five per cent year-on-year. As an example, sales of our Taste the Difference Conegliano Prosecco grew by over 30 per cent. We also sold over 57 million mince pies and over 550,000 turkeys, up eight per cent year-on-year.

“Our colleagues continue to provide excellent in-store service, and again did a fantastic job of serving our customers during the busiest time of the year. A record-breaking week before Christmas saw over 29.5 million customer transactions. We continued to help our customersLive Well for Less with the redemption of £124 million worth of Nectar points during the quarter supported by our popular Christmas Double-Up campaign.

“The trend of more frequent and local shopping continues and we saw growth of over 16 per cent in our convenience business in the quarter. As well as over six million convenience customer transactions in the week before Christmas, we also saw our largest ever day for convenience sales on 24th December, taking over £8 million. For our groceries online business, this Christmas was our biggest to date. In the three days to 23rd December, our online team delivered more than 110,000 orders.

“Our clothing and general merchandise businesses traded strongly over the quarter, in particular our clothing business was up nearly ten per cent year-on-year. We sold more than twice the number of Christmas jumpers compared to last year and our ‘snowman’ jumper,designed by one of our colleagues, was our best-seller by volume.

“We opened 25 new convenience stores and refurbished a further seven in the quarter. We also opened four new supermarkets, one extension and one replacement store, and refurbished seven supermarkets.

“In November, we announced our plans to invest £150 million in the prices of some of our most popular products. This week we are lowering prices on over 700 of these, including reductions in our Meat, Fish and Poultry categories. For example, the regular price of our 260g boneless cod fillets has dropped from £4.00 to £3.30 and the regular price of a Sainsbury’s 1.35kg British whole chicken has fallen from £4.50 to £3.50. This now means we have reduced the prices of over 1,000 products since we made our announcement.

“The outlook for the remainder of the financial year is set to remain challenging, with food price deflation likely to continue. Our performance in the third quarter showed an improving trend quarter-on-quarter. However, given the uncertainty in the trading environment, food price deflation and the price reductions we announced this week, we currently expect our fourth quarter like-for-like to be similar to that of our first half. Our prices versus our supermarket peers have never been better and alongside our differentiated quality and service offer, we are confident we will help our customers Live Well for Less throughout 2015.”

Notes to editors

1. All sales figures contained in this trading statement are stated including VAT and in accordance with IFRIC 13

2. Like-for-like sales include the impact of extensions as follows

Q1 Q2 H1 Q3
Sales growth including fuel (%)
Total (0.3)% (2.3)% (1.4)% (2.5)%
Like-for-like (2.4)% (4.1)% (3.4)% (3.9)%
Sales growth excluding fuel (%)
Total 1.0% (0.8)% 0.0% (0.4)%
Like-for-like (1.1)% (2.8)% (2.1)% (1.7)%
Included in like-for-like sales (%)
Net contribution from extensions 0.2% 0.2% 0.2% 0.2%

3. Store investment programme 2014/15:

Q1 Q2 H1 Q3
Supermarkets
New 2 2 4
Replacements 1 1 1
Extensions 1 3 4 1
Refurbishments 3 2 5 7
Closures (1) (1) (1)
Convenience
New 27 23 50 25
Closures (1) (1) (1)
Refurbishments 12 10 22 7

At the end of the quarter, we had 598 supermarkets and 684 convenience stores.

4. Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

5. Sainsbury’s also released today its Third Quarter Corporate Responsibility update

6. A conference call will take place at 8:30am. To listen to the audio webcast we recommend that you register in advance. A transcript of the conference call will be made available later today.

7. Sainsbury’s will announce its Fourth Quarter Trading Statement on Tuesday 17 March 2015.

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Sainsbury’s Q3 total retail sales down 2.5 per cent (inc fuel); 29.5 million customer transactions in the 7 days before Christmas

Sainsbury’s Q3 total retail sales down 2.5 per cent (inc fuel); 29.5 million customer transactions in the 7 days before Christmas