LITTLE ROCK, Ark. (AP) - Department-store operator Dillard's Inc. says same-store sales fell 14% in June, hurt by sluggish sales in the Eastern and Western U.S.
Analysts surveyed by Thomson Reuters, on average, expected same-store sales to fall 10.4%. Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.
Total sales for the five weeks ended July 5 fell 16% to $497.2 million from $593.3 million.
The company said Thursday sales were best in the Central region of the U.S., and weaker in the East and West. Home and furniture sales remained weak.
Year-to-date, same-store sales fell 13% while total sales fell 15% to $2.34 billion.