Same-store sales fall (15.4%) for Gottschalks

[Newsjock]

Source: Fresno Bee

Gottschalks Inc. reported Thursday that its March same-store sales fell 15.4% compared with the same month last year -- disappointing news shared by retailers across the country as a weakening economy and rising food and gasoline prices pinched consumers' pocketbooks.

Nationwide, chain stores saw March same-store sales fall 0.5% from the same month last year, the weakest showing since 1995, the International Council of Shopping Centers reported Thursday. Same-store sales are sales at outlets open at least a year and are considered the best indicator of a retailer's health.

Losers included Target Corp, down 4.4%; Nordstrom Inc., down 9.1%; Limited Brands Inc., down 8%; Dillards Inc., down 10%; J.C. Penney Co., down 12.3%; Kohl's Corp., down 15.5%; and Gap Inc., down 18%.

Among the few companies reporting increased same-store sales in March were Wal-Mart Stores Inc., up 0.7%, and Costco Wholesale Corp., up 7%.

Read more: http://www.fresnobee.com/business/story/518956.html

[MaineDem]

1. What is Gottschalks?

I've never heard of it. Grocery store?

[AlCzervik]

2. no, it's a dept. store that sells **some** higher end stuff. You can find deals there

but overall----meh. It's also smaller, like one level.

[MaineDem]

3. Thank you.

I'm glad the President says the economy is rebounding. :eyes:

[Le Taz Hot]

4. It's a local chain that started

in Fresno which is located in California's Central San Joaquin Valley. It actually has excellent merchandise and I buy all my business suits there; however, it's in F-R-E-S-N-O you know, the home of FreeRepublic and where we're all, every single one of us, uneducated, idiot smelly farmers. Just ask anyone on the California board, they'll tell you all about us. Or even people on this very thread. Ehhhh. :eyes:

LTH
Fresno, CA

[Norrin Radd]

5. Boo hoo! Nordstrom's having trouble selling $1,000.00 shoes?

[Le Taz Hot]

7. This is not Nordstroms

and I've never seen $1,000.00 anything in Gottschalks short of furniture.

[Norrin Radd]

8. Nordstrom is mentioned in the original post.

[Winterblues]

6. Prices have gone up considerably so a lot less actual merchandise has been sold

These people register "sales" in dollars. When prices go up so do "sales" even if less actual merchandise leaves the store. When "sales" are down by 15% after a year of price hikes like we have experienced then actual merchandise changing hands is really down a lot more. That suggests things are really more dire than reported..Inventory is not moving...