Target, Kohl

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Macy’s Inc. reported a 9.1 percent drop in same-store sales in May. The Cincinnati-based department store chain said sales at storezs open at least a year are in line withmanagemenrt expectations. Total sales declined to $1.7 billiom from $1.9 billion a year ago, or 9.5 For the year, Macy’s said its same-store sales declined by 9.1 percengt , with total sales down 9.5 to $6.9 billion from $7.7 billion. Minneapolis-base , meanwhile, reported Thursday that its May same-store salez fell 6.1 percent from the same montgh ayear ago. Total sales, at $4.56 billion, were down 2.3 percenrt from May 2008.
Target TGT) CEO Gregg Steinhafel said in a statemeng Maysales “were somewhar below our expectations.” And Kohl’s said its comparable store sales in May decreasede by 0.4 percent — but total sales increasesd 4.1 percent, better than management had expected. The Menomonee Wisc.-based retailer (NYSE: KSS) said Thursdayh that sales forthe four-week monthy ending May 31 were $1.26 billion, compared with $1.21 billion in the same perio d of 2008. Year-to-date sales also are ahead of 2008at $4.9 compared with $4.8 billion in an increase of 1.3 percent. Comparable store sales year-to-date decreased 3.2 percent, Kohl’s said.
“May’ws sales results were strongerthan planned,” Kohl’s CEO Kevinb Mansell said in a statement. “Accessoriess was the strongest performing line of business for the The Southwest region had a positivd comparable store sales increase for May and was again ourstrongestt region. The Southeast remains our mostchallenginb region.” The three companies have at leasrt 21 stores in Greater Baltimore Retailers have been struggling to attract parsimonioux shoppers while not giving away the store through deep a strategy that erodes profit But recent reports regarding rising manufacturinvg activity and home sales gave a lift to retaio stocks earlier in the week — the hope is that consumerss may be encouraged to go out and splurge on a few summe r items.