Retail Metrics is out with its preliminary expectation for February same-store sales data to be released later in the week. Keep in mind that February has an extra day compared to 2011 because of Leap Year, but the expectations are for a rise due to promotional sales and due to better economic data. One concern is that February may have “pulled forward” sales from March due to weather.
The Retail Metrics analysis has lifted expectations for Target Corporation (NYSE: TGT), Limited Brands, Inc. (NYSE: LTD), Ross Stores Inc. (NASDAQ: ROST), Saks Inc. (NYSE: SKS), Nordstrom Inc. (NYSE: JWN), and even Zumiez Inc. (NASDAQ: ZUMZ).
The report said, “As noted in previous reports, several catalysts gave rise to solid traffic and conversion levels throughout the month. Merchandise and food sales were strong around Super Bowl weekend at the beginning of the month. Valentine’s Day related gift selling looked to be quite good with the National Retail Federation calling for a high-single digit increase in sales.”
JON C. OGG