Sales In Stores

Hechinger sales down againThe financial dry spell continued in July for Hechinger Co. as the Landover-based home improvement chain yesterday reported a fourth consecutive month of anemic sales.Overall sales for the period that ended July 29 dropped 9 percent to $177 million, compared with the same month last year. July sales in stores open at least a year, a bellwether of performance because it factors out new stores, fell 6 percent, after declines of 7 percent in June, 8 percent in May and 10 percent in April.

Maryland's holiday retail season appears to be off to a solid start, with several surveys showing shoppers thus far spending more this year than last.TeleCheck Services said Maryland's retail sales increased by 3.8 percent in November, while sales over the Thanksgiving shopping weekend increased by a less robust 1.1 percent in Maryland and 2.8 percent in Baltimore. The November figures for Maryland were better than the national average of 2.1 percent.The company's data is based on a comparison of the dollar volume of authorized checks written by consumers at about 20,000 stores nationwide.

The red ink continued to spread at Merry-Go-Round Enterprises Inc. as the apparel retailer reported yesterday a net loss of $28 million, or 52 cents a share, for the second quarter.But the losses were less than those sustained for the same period last year.The Joppa-based chain, operating under bankruptcy protection since January 1994, lost $37.9 million, or 70 cents a share, for the same quarter a year ago."The hemorrhaging has slowed but it has not stopped," said Alan G. Millstein, editor and publisher of the Fashion Network Report in New York.

U.S. retailers sent conflicting signals in September; yesterday they reported modest monthly sales gains and losses that analysts said could spell another tepid Christmas season."

An early Easter this year brought consumers out of hiding as U.S. retailers reported that sales bounded up sprightly in March, according to monthly figures reported across the nation yesterday.Consumer spending in March was driven not only by Easter, but also by the coming of spring, a rite of passage in shopping for lawn chairs, T-shirts and other seasonal goods, which boosted sales at department stores and apparel retailers.March represented the second consecutive healthy month in retail after an anemic Christmas season, but whether a major upturn is in the offing remains uncertain, analysts said.

There was no reprieve for Merry-Go-Round Enterprises Inc. in October, as the Joppa-based fashion retailer reported yesterday another month of declining sales.October sales dropped 25 percent, to $39 million, compared with $51.7 million over the same period last year, a decline due in part to store closings. The retailer operated 948 stores at the end of October, compared with 1,221 stores at the same time last year.Sales in stores open at least a year, a crucial gauge of performance because it factors out closed stores, were down 13 percent.

Hechinger Co., unable to halt its financial tailspin in August, reported yesterday a fifth consecutive month of sales declines.Overall sales for the Landover-based home improvement chain dropped 15 percent, to $159.7 million, compared with $187 million in August 1994.August sales in stores that have been open at least a year -- a key indicator of retail performance because it factors out new stores -- fell 13 percent, after declines of 6 percent in July, 7 percent in June, 8 percent in May and 10 percent in April.

Continuing its growth trend, Jos. A. Bank Clothiers Inc. reported yesterday its third consecutive quarter of strong sales figures.For the second quarter ended Aug. 3, sales in stores open at least a year, a key measure of performance, rose 5.1 percent.Over the previous two quarters, the Hampstead-based chain of zTC 80 stores reported comparable-store sales increases of 8.6 percent and 6.7 percent."Suits -- tailored clothing has remained strong," said Bank Chairman Timothy F. Finley.For the second quarter, overall sales increased by 6.3 percent to $33.8 million.

The tailspin at Hechinger Co. halted yesterday as the home-improvement retailer reported its first rise in quarterly profits since John W. Hechinger Sr. relinquished day-to-day responsibilities and passed the torch to his son, John Jr., a year and a half ago.Beating analysts' projections, the company's net income for the second quarter ended Aug. 3 jumped 34 percent to $12.2 million, or 28 cents per share, compared with $9.1 million, or 22 cents per share,...

Three months of poor sales hit the bottom line with a thud yesterday at Merry-Go-Round Enterprises Inc., as the Joppa-based apparel chain reported a $24.1 million loss for its latest quarter.Merry-Go-Round, which entered bankruptcy proceedings in January, has reported sharp monthly sales declines since last year.The company blames a lack of merchandise, saying problems with vendors several months ago hurt its ability to buy clothes.For Merry-Go-Round's first quarter, which ended April 30, sales in stores open for at least a year were down 26 percent.

Good. Bad. Or middling.Those are the ideas on how sales will shake out during the back-to-school selling season, perhaps the most important time for retailers other than Christmas -- although even that distinction is now in doubt."

The tailspin at Hechinger Co. halted yesterday as the home-improvement retailer reported its first rise in quarterly profits since John W. Hechinger Sr. relinquished day-to-day responsibilities and passed the torch to his son, John Jr., a year and a half ago.Beating analysts' projections, the company's net income for the second quarter ended Aug. 3 jumped 34 percent to $12.2 million, or 28 cents per share, compared with $9.1 million, or 22 cents per share,...

Continuing its growth trend, Jos. A. Bank Clothiers Inc. reported yesterday its third consecutive quarter of strong sales figures.For the second quarter ended Aug. 3, sales in stores open at least a year, a key measure of performance, rose 5.1 percent.Over the previous two quarters, the Hampstead-based chain of zTC 80 stores reported comparable-store sales increases of 8.6 percent and 6.7 percent."Suits -- tailored clothing has remained strong," said Bank Chairman Timothy F. Finley.For the second quarter, overall sales increased by 6.3 percent to $33.8 million.

An early Easter this year brought consumers out of hiding as U.S. retailers reported that sales bounded up sprightly in March, according to monthly figures reported across the nation yesterday.Consumer spending in March was driven not only by Easter, but also by the coming of spring, a rite of passage in shopping for lawn chairs, T-shirts and other seasonal goods, which boosted sales at department stores and apparel retailers.March represented the second consecutive healthy month in retail after an anemic Christmas season, but whether a major upturn is in the offing remains uncertain, analysts said.

Merry-Go-Round Enterprises Inc., reeling under declining sales and the cost of bankruptcy, is now plagued with another problem: fear.Sources within the company and industry observers say the fashion retailer, looking to cut its losses, is considering cutting the payroll and closing more stores.Company spokesman Michael W. Kempner said yesterday, "As a company policy, we don't respond to rumors, and these are rumors."Layoffs, sources said, would affect not only store clerks and managers but possibly upward of 100 workers at corporate headquarters, which had a payroll of about 600 at the beginning of the year.

There was no reprieve for Merry-Go-Round Enterprises Inc. in October, as the Joppa-based fashion retailer reported yesterday another month of declining sales.October sales dropped 25 percent, to $39 million, compared with $51.7 million over the same period last year, a decline due in part to store closings. The retailer operated 948 stores at the end of October, compared with 1,221 stores at the same time last year.Sales in stores open at least a year, a crucial gauge of performance because it factors out closed stores, were down 13 percent.

As Jos. A. Bank Clothiers Inc. prepares to launch a line of men's casual wear and get out of women's apparel, a funny thing has happened: Customers, lured by promotional sales, are buying more suits and women's apparel.Go figure.But Bank isn't complaining. The Hampstead-based catalog retailer and chain of 83 stores in 36 states reported yesterday $40.8 million in second-quarter sales, up 18 percent from $34.5 million for the same period last year."Considering the [retailing] environment, it's not too bad," said Chairman and Chief Executive Officer Timothy F. Finley.

The financial dry spell continued in July for Hechinger Co. as the Landover-based home improvement chain yesterday reported a fourth consecutive month of anemic sales.Overall sales for the period that ended July 29 dropped 9 percent to $177 million, compared with the same month last year. July sales in stores open at least a year, a bellwether of performance because it factors out new stores, fell 6 percent, after declines of 7 percent in June, 8 percent in May and 10 percent in April."I have no reason to change my opinion -- the company is having a difficult time, but it's doing the best it can," said analyst Kenneth Lucas of Johnston, Lemon & Co. in Washington, D.C. "The retail environment is not that good.

Another month, another drop in sales.Joppa-based Merry-Go-Round Enterprises Inc. reported that September sales, drained by the closing of unprofitable stores, fell 23 percent to $56.5 million, compared with $73.2 million over the same period last year.Back-to-school revenue did little to boost sales in stores open at least a year, an important measure of performance, which fell 10 percent.Company officials could not be reached for comment, but analysts detected some potential upside in the latest figures for Merry-Go-Round, an apparel chain of 955 stores selling contemporary fashions for young men and women.

The red ink continued to spread at Merry-Go-Round Enterprises Inc. as the apparel retailer reported yesterday a net loss of $28 million, or 52 cents a share, for the second quarter.But the losses were less than those sustained for the same period last year.The Joppa-based chain, operating under bankruptcy protection since January 1994, lost $37.9 million, or 70 cents a share, for the same quarter a year ago."The hemorrhaging has slowed but it has not stopped," said Alan G. Millstein, editor and publisher of the Fashion Network Report in New York.