Penney still leads dept. store way
GDA Staff -- Gifts & Dec, July 16, 2001
JCPenney retained the number-one position among department stores again for 2000, but Kohl's is not wasting any time trying to catch-up.
Though Kohl's sales in home textiles are just over a third of JCPenney's, its growth far outpaces that of other department stores in the ranking. In fact, with the exception of cataloger The Company Store, Kohl's growth exceeded that of all others in the Top 50.
Department stores — with the exception of Kohl's — continue to face difficulty, due to the slow economy and increased competition from other distribution channels. Three of the four retailers on the list registered negative sales growth in the home textiles area, and another climbed only into the single digits.
Though the Plano, TX-based JCPenney lost its number-one spot to Wal-Mart on the Top 50 list, it preserved its position as the leader of the department store group, though it slipped 1.5 percent for a home textiles sales total of $1.167 billion. Its store total also declined by 39 locations, for a total of 1,111.
Kohl's, however, continues to astound with its numbers. Moving up from its third-place position in 1999 to number-two this year, Kohl's grew an amazing 30.8 percent in home textiles sales, to $420 million. It also continues to expand into new markets and old, adding 61 stores last year for a total of 320. This is also the first time the Menomonee Falls, WI-based phenomenon broke into the top 10, moving up from 11th to ninth place.
Mervyn's, Target Corp.'s troubled Hayward, CA-based division, slipped 0.8 percent in 2000, for a sales total of $396 million. It also closed one store for a total of 266.
Federated's Macy's East and Macy's West fill out the remaining spots on the list. While number-five Macy's West, San Francisco, grew 4.7 percent to $220 million in textiles sales last year, number-four Macy's East, based here, declined 3.8 percent to $230 million in sales. Both added three stores each.
Top 5 home textiles department stores
|Top 50 Rank||Company||Home Textiles Sales ($Millions) 2000||1999||Percent Change||Number of Stores 2000||1999|
|1. Department store sales only.
Source: HTT Research
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