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Snapshot of early back-to-school sales



By AP
03 September 2008 @ 02:30 pm ET

Early reports from several retailers show a sluggish start to the back-to-school season. Here is a snapshot of some of the same-store sales results announced Wednesday, a day before a majority of merchants are expected to report final figures. Same-store sales are sales at stores opened at least a year and are a key measure of a retailer's health.

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COST 44.64 -1.15
WAG 27.55 -1.79
PIR 1.8 -0.12

_Department store operator J.C. Penney Co.:

Same-store sales: down 4.8 percent at department store business in August

Wall Street expectations: Analysts surveyed by Thomson Reuters expected a 6.3 percent decline

Outlook: expects a mid- to high-single digit decrease in same-store sales for September

_Department store retailer Kohl's Corp.:

Same-store sales: down 5.8 percent in August

Wall Street expectations: Analysts expected a 7.6 percent drop

_Warehouse club operator Costco Wholesale Corp.:

Same-store sales: up 9 percent in August

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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