We’ve been looking at August sales results for retailers in various categories this week. Today’s category is specialty retailers.
Unlike the apparel category and the department and discount store category, not many of the top specialty retailers release monthly sales figures. Costco Wholesale Corp. (COST) does, and we’ll report those below. Both Staples Inc. (SPLS) and Tiffany & Co. (TIF) released second quarter earnings recently enough to make them appropriate for today, so let’s take a look at those also.
First Costco: Net sales of $5.41 billion for August were up 12 percent from the same four weeks last year. Comparable sales for the four weeks in August were up 9 percent.
For the second quarter, Tiffany reported an 11-percent increase in worldwide net sales and attributed the uptick to strong net sales growth in Asia-Pacific and Europe. Sales in the Americas region increased 3 percent during the quarter, compared with a 17-percent increase in Asia-Pacific and a 35-percent increase in Europe.
The company’s global retail operations “once again demonstrated the ability to generate strong operating earnings growth despite weakness in certain individual country markets,” said Tiffany Chairman and CEO Michael J. Kowalski.
At Staples, net income declined by 16 percent during the second quarter. During the quarter, Staples completed the acquisition of Corporate Express, opened 35 stores and acquired 65 stores as a result of the Corporate Express acquisition.