Retailers are posting their November sales figures this morning, and the overall picture is looking bright. Shoppers are headed back to stores of every kind. Big-box retailer BJ’s Wholesale Club Inc. (NYSE: BJ) posted a same-store sales increase of 5%, beating estimates by more than 1%. November revenue rose 8%, to $900 million. Target Corp. (NYSE: TGT) reported that November sales rose 5.5%, much better than expectations of 3.7%. Total sales rose 5.7% to $6 billion. Costco Wholesale Corp. (NASDAQ: COST) said sales rose 9% in November and revenue increased by 12%, including its joint venture in Mexico, and 9% excluding the Mexican stores.
Teen specialty retailers also saw some handsome sales boosts. Abercrombie & Fitch Co. (NYSE: ANF) reported that November same-store sales rose 22%, blasting through analysts’ expectations of a 6.8% rise. Net sales rose 32%, to $319 million for the month. Aeropostale Inc. (NYSE: ARO) posted a net sales jump of 7% in November, but a drop of -1% in same-store sales. Aeropostale’s Black Friday sales rose in the mid-single digits, but sales for the rest of the holiday weekend “decelerated significantly.” American Eagle Outfitters, Inc. (NYSE: AEO) posted flat same-store sales figures in November and total sales up just 2%. The Wet Seal, Inc. (NASDAQ: WTSLA) reported same-store sales up 8.3%, and net sales up 16.7% compared with a November 2009. Gap Inc. (NYSE: GPS) posted a same-store sales gain of 4%, well above analysts’ expectations of 2.6%. Net sales rose 6% to $1.51 billion. Limited Brands Inc. (NYSE: LTD) reported a jump of 10% in same-store sales, much better than expectations of a 4% gain. Net sales rose 14%, to $893 million at Limited stores.
Department stores and fashion specialty stores also posted nice gains in November. Nordstrom Inc. (NYSE: JWN) posted a same-store sales boost of 5.1%, compared with expectations of a 3.8% gain. Total sales rose 8.8%, to $815 million for the month. Macy’s Inc. (NYSE: M) reported sales growth of 6.1%, compared with expectations of a 5% gain. Net sales for November totaled $2.34 billion, a rise of 7.8%. Saks Inc. (NYSE: SKS) reported a same-store sales gain of 5.3%, well below analysts’ estimates of a 9.5% gain. Revenue for the month totaled $255 million, up 4% from November 2009.
Before the market opened this morning, Aeropostale shares were off about -9% on the negative growth, while Abercrombie and Fitch shares had posted a gain of nearly 8%.