By Eve Tahmincioglu, contributor
Introduction
At a time when big-name stores like Circuit City, Linen N’ Things and Mervyns are falling into the bankruptcy abyss, there are some retailers out there that keep on trudging along even as the economy crumbles around them.
While few retailers are really raking in the dough, there are some surprising bright spots, or at least not-so-gloomy spots, in the nation’s shopping landscape.
Sure, Wal-Mart is still seeing sales increases, thanks to bargains like a turkey dinner with fixings for eight people for $35. But even some stores with higher-end merchandise, such as Urban Outfitters, are bringing in customers looking for unique and quirky items. One top seller at the retailer: An $18 flask that says “pimp” or “ho.”
“You have the Wal-Marts out there that have a reputation for value, but you also have retailers who aren’t afraid to have the variety and assortment and know what their customers want,” says Tao Gao, professor at the College of Business Administration at Northeastern University.
Here’s a look at some retailers that are maintaining sales — or at least not seeing their sales plummet despite tough economic times. Call them “the recession’s least ragged retailers.”";
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Not surprisingly, the big wholesale clubs including Wal-Mart, Sam’s Club, Costco Wholesale Corp. and BJ’s Wholesale Club Inc. are also holding their own because consumers are buying in bulk in order to make their dollars go further.
At BJ’s, same-store sales rose 10 percent in October, more than expected, while Sam's Club saw a 3.6 percent jump, thanks primarily to food sales. Costco saw same-store sales rise 2 percent in the most recent month.
It’s mainly about necessity items, although there are exceptions. One hot item at Sam’s Club is a professional KitchenAid mixer for under $250.
All three big warehouse operations are being hurt by a drop in consumer electronic sales, but at Costco, cell phones and accessories were selling well.
Costco, based in Issaquah, Wash., has more than 540 warehouses around the globe and 53 million members. BJ’s, headquartered in Natick, Mass., employs 21,200 people and has 176 locations, including 88 gas stations.";
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Who would imagine a store that sells $100-plus jeans would still be doing well in this economy?
But that’s exactly what’s happening over at Philadelphia-based Urban Outfitters Inc., which operates 140 Urban Outfitters stores, 118 Anthropologie locations and 27 Free People stores.
Same-store sales for the company were up 10 percent last month, but the retailer did announce it was taking a more conservative outlook for the holiday and spring season because of the economy.
The main driver for the company is its flagship Urban Outfitters chain, which offers an eclectic mix of apparel, accessories and odd home products. Big sellers included accessories like a $38 Cabaret Bowler hat and $24 silver spoon necklace.
Also contributing to Urban Outfitters success is its tight control of inventory and understanding of its customers, analysts say.
There are not too many places where you can find a flask that says “pimp” on it.";
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Since the Swedish fashion company Hennes & Mauritz opened its first H&M store in the United States in 2000, it has become a darling among many Wall Street analysts.
A strategy of offering low-cost versions of styles that can be found on fashion runways has positioned H&M as a consumer favorite as well. Fancy fitted T-shirts for under $10 and must-have trench coats for under $100 have helped the not-so-rich look trendy.
But price points are still above what can be found at discounters like Wal-Mart, making it vulnerable in a downturn.
Despite this fact, H&M seems to be keeping its head above water, with a same-store sales dip of only 2 percent last month, less than expected.";
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Fashion-hungry rummagers appear to still be rummaging through the racks at T.J. Maxx and its sister chain, Marshalls, despite the downturn.
The parent of these two off-price stores, The TJX Cos. Inc., reported a modest 1 percent rise in same-store sales for the latest quarter after factoring out currency fluctuations.
TJX, headquartered in Framingham, Mass., has more than 2,500 stores and 130,000 employees, and its claim to fame is that it sells department store and specialty store merchandise for cut-rate prices.
Indeed, the retailer is outperforming its department store counterparts like Macy’s and specialty apparel chains such as Gap and The Limited.
While the endless jumbled racks of clothing and haphazard array of home products piled high on shelves at T.J. Maxx and Marshalls offer a less-than-favorable shopping experience when compared to traditional department stores, savvy shoppers can be rewarded if they have patience. A $100 pair of jeans for under $20 is not unheard of. So what if it’s last year’s model?";
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The dollar retail trio — Dollar General Corp., Family Dollar and Dollar Tree — encompass the trifecta of making-your-dollar-last retail giants, and they’re all weathering this economic storm well so far. After all, how can anyone pass up a $1 wine glass?
Dollar Tree and Family Dollar, which both report same-store sales on a quarterly basis, reported that same-store sales for the third quarter rose about 6 percent. Dollar General saw sales grow 10.1 percent in the second quarter, the most recent available.
Dollar Tree Inc., based in Chesapeake, Va., is the purest form of the dollar-store concept because every item in the store is $1 or less, while Family Dollar of Matthews, N.C., sells products mainly for $10 and under.
Dollar General, owned by private equity firm Kohlberg Kravis Roberts & Co and based in Goodlettsville, Tenn., is the biggest of the three with 8,000-plus stores and 71,500 employees; Family Dollar has 6,509 stores and employs 24,000; and Dollar Tree operates more than 3,200 stores and has 12,700 employees.
These dollar store operations are also cashing in on staples such as eggs and milk, with Family Dollar adding refrigeration recently to accommodate these perishable items. Formerly a cash-only operation, Family Dollar recently began accepting credit cards, debit cards and food stamps.";
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Essential merchandise, such as drugs, continues to drive sales at drug store chains that are also one-stop shops for everything from soda to Christmas lights. Walgreen Co., CVS and Rite Aid Corp. are all benefiting.
Walgreen, which runs more than 7,000 stores and is based in Deerfield, Ill, was able to keep its head above water with same-store sales for October rising 2 percent, despite the growing use of less-expensive generic drugs and disappointing sales of Halloween items.
Woonsocket, R.I.-based CVS/Pharmacy, the retail division of CVS Caremark Corp., reported third-quarter same-stores sales were up 3.7 percent; while Rite Aid, headquartered in Camp Hill, Pa., saw a 2.9 percent sales increase in the latest month.
\"We are pleased with our October sales, particularly considering the weak retail environment,” Mary Sammons, Rite Aid chairman and CEO, said in a statement.";
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While sales in consumer electronics appear to be taking a big hit lately, somehow Radio Shack Corp. has been bucking the trend and has been able to turn in solid same-store sales figures for the third quarter – a 7.7 percent increase.
So how is Radio Shack, based in Fort Worth, Texas, staying in the black?
Strong sales of TV converter boxes to convert digital signals helped spur sales in the third quarter, the company says. So did growth in AT&T cell phone activations and upgrades and sales of video game devices.
Radio Shack is in the midst of remodeling many of its 6,000 stores and last month announced a new trade-in policy, allowing consumers to get store credit for used electronics and computer gear.";
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Turns out more people must be bypassing dinner and a movie out for their own home theaters or comfy couch.
Dallas-based Blockbuster Inc. appears to be staving off bad economic times and competition from home-delivery movie services such as Netflix. Same-store sales for the third quarter rose 5.1 percent.
Rental revenues, however, were not the main driver of sales this past quarter. The biggest gains came from customers buying more ancillary merchandise like Twizzlers and \"Madagascar\" Beanie Babies at its stores.
The company, which has over 7,500 stores worldwide, is also putting a lot of focus on the transition from DVDs to the high-definition Blu-ray format. Blu-ray discs currently represent only 2 percent of Blockbuster’s business.";
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Bentonville, Ark.-based Wal-Mart Stores Inc., with its 7,000-plus locations, is sort of like a retail Rock of Gibraltar in almost every economic downturn. This one is no exception.
Even though Wal-Mart’s most recent monthly sales report was weak by its standards, the company did better than most analysts expected and reported a 10 percent increase in earnings for its latest quarter.
\"It is our time,” said Wal-Mart’s CEO Lee Scott in a recent post-earnings conference call. “At a time when our customer is feeling the pressure of a tough economy, Wal-Mart's price leadership is more important than ever.\"
The company even boasts a $35 Thanksgiving dinner for eight people, booze and all:
-- 2 boxes of Stovetop stuffing mix
-- 4 pounds of sweet potatoes
-- 4 cans of Green Giant canned vegetables (select varieties)
-- 2 cans of Ocean Spray cranberry sauce
-- 12-pound fresh hen or tom turkey
-- 1 can Campbells turkey gravy
-- Pack of Sara Lee dinner rolls
-- 10-inch pumpkin pie
-- 2 bottles of Oak Leaf wine (or 24-pack Coke product)";
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