RETAIL

Sept. Sales Tough, But Beat Forecasts

September was a frustrating month for fashion retailers.

Warm temperatures across the United States pushed back demand for fall sweaters and jackets. Shopping got started late because Labor Day fell on Sept. 7. (Last year, it fell on Sept. 1, which helped kick off a good month for retail sales.)

But Wall Street analysts seemed to think that retail did just fine in September despite there being a lot of potholes on the road. In an Oct. 8 research note, Ken Perkins of Retail Metrics forecast that Gap Inc. would post a 1.6 percent decline in its same-store sales for September. It beat expectations. The San Francisco–based retail giant only reported a 1.0 percent decline.

Zumiez Inc. was forecast to see same-store sales decline by more than 7 percent, said Liz Pierce of Brean Capital. The retailer also beat expectations. It reported a decline of 1.8 percent in same-store sales for September.

L Brands Inc. reported great business for the month of September. Same-store sales increased 9 percent during the month for the parent company of Victoria’s Secret, Pink and Bath & Body Works.

As many public companies were reporting their retail sales on Oct. 8, Tilly’s Inc. reported a new president. On Oct. 12, Ed Thomas will join the Irvine, Calif.–headquartered retailer as its president and chief executive officer. Thomas, who most recently helmed juniors retailer Wet Seal Inc., ran Tilly’s from September 2005 to October 2007. For his second stint at Tilly’s, Thomas will replace Daniel Grieseimer. The former Tilly’s CEO and a director of the company left the retailer on Oct. 7.

Tilly’s operates 219 stores and an e-commerce site (www.tillys.com). On Aug. 26, it reported results for the second quarter for its 2015 fiscal year. Net sales increased 6 percent to $130 million for the quarter. Same-store sales increased 0.5 percent.