Retailers slowly reporting February same-store sales and there is one clear consensus: consumers are spending again.
Same-store sales across a panoply of companies are beating expectations this morning, particularly impressive considering the difficult comparisons they are stacked on top of. Take a look at the first reporters below:
- Gap Inc. (GPS): Feb. Same-Store Sales +4.0 Percent, Street Expected -1.4 Percent
- Limited Brands (LTD): Feb. Same-Store Sales +8.0 Percent, Street Expected +6.2 Percent
- Macy's (M): Feb. Same-Store Sales +4.6 Percent, Street Expected +3.5 Percent
- Target (TGT): Feb. Same-Store Sales +7.0 Percent, Street Expected +5.2 Percent
- Costco (COST): Feb. Same-Store Sales +7.0 Percent, Street Expected +6.5 Percent
- Kohl's (KSS): Feb. Same-Store Sales -0.8 Percent, Street Expected +0.0 Percent
- TJX (TJX): Feb. Same-Store Sales +9.0 Percent, Street Expected +7.0 Percent
- Stage Stores (SSI): Feb. Same-Store Sales +3.7 Percent, Street Expected +1.5 Percent
In a note out to investors, Brian Tunick of J.P. Morgan said he expected to see two to three percent growth over the previous month.
"Looking further into [the first quarter], March will be the toughest two-year comp of 13 percent, with April facing an 11 percent comp stack," Tunick says. "So overall, tough first quarter compares, but retailers are optimistic that the combination of the warm weather and earlier Easter will be supportive of strong sales."
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See Also:
- JP MORGAN: First Quarter Retail Sales Are Looking Strong, Even On Tough Comparisons
- A Quick Preview Of January Chain Store Sales
- Lululemon and Tiffany Just Came Out With Radically Different Outlooks For Their Businesses