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Two-Tier Recovery

Jonathan Birchall:

FT.com / Retail & Consumer - Holiday US same-store sales disappoint: Gap, the largest speciality retailer, reported a 3 per cent drop in comparable store sales growth against last December.... American Eagle and Aeropostale, the youth fashion retailers, reported comparable sales declines respectively of 11 per cent and 5 per cent.... Large mainstream department stores... Macy’s saw its comparable sales increase 3.9 per cent, JC Penney 3.7 per cent and Kohl’s 3.7 per cent. Target, the discounter, saw comparable sales rise just 0.9 per cent against last December....

More upmarket retailers continued to outperform the rest of the sector. Nordstrom, the fashion department store, reported an 8.4 per cent increase in same-store sales, while Saks, its luxury rival, saw an 11.8 per cent increase. Victoria’s Secret... saw comparable sales increase by 8 per cent.... Abercrombie & Fitch, the youth fashion retailer, saw sales jump 15 per cent against last year...

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