twice connect
careers

CE Drives Sales In Nov. For National Retailers

12/06/2010 12:01:00 AM Eastern

NEW YORK – Black Friday and month-long CE promotions
drove retail sales in November, national chains
said last week.

A key exception was Costco, which cited lower
comp-store sales across core CE categories.

What’s more, BJ’s Wholesale Club said sales rose
highest during the second week of November, supporting
reports of flat brick-and-mortar sales on Black
Friday.

Among those reporting monthly tallies, Target said
net sales for the four weeks, ended Nov. 28, rose
5.7 percent to $6 billion while comp-store sales increased
5.5 percent. Chairman/CEO Gregg Steinhafel
attributed the better-than-expected results
to “very strong” traffic throughout the month and
“compelling holiday merchandising and marketing
programs,” including a new 5 percent cash-back
credit card offer.

Target said CE and toys posted the strongest compsale
gains within the hardlines category, while music and
movies were among the weakest.

The discount chain is projecting a low- to mid-singledigit
comp-sale increase in December.

Within the warehouse club channel, Costco said net
sales, including sales from its joint venture in Mexico,
rose 12 percent to $6.8 billion for the four weeks, ended
Nov. 28, while U.S. same-store sales excluding gasoline
increased 6 percent. Net sales excluding Mexico operations
rose 9 percent.

Comp-store sales for CE fell by the low double-digit
range, with TVs, audio, computers and cameras all
posting lower same-store sales. Costco said TV comps
declined by the mid- to high-single digit range despite a
low-single-digit increase in unit sales.

Average transaction amounts were up 3 percent and
traffic increased 5.5 percent company-wide compared
with last year.

At BJ’s Wholesale Club, net sales for the four weeks,
ended Nov. 27, rose 8 percent to $900.1 million and
comp sales increased 3.8 percent excluding gasoline.
Sales increased each week of the month, but they rose
the highest during the second week of November.

BJ’s cited CE and video games among its strongest
monthly performers but reported weaker comps for computer
equipment and prerecorded video.