24/7 Wall St. » BKE

Retail Sales for May Better Than Expected

Paul Ausick — Thu, 06 Jun 2013 15:10:49 +0000

Retailers are announcing May same-store sales figures today. Research firm Retail Metrics projected an overall gain of 2.8% year-over-year, compared with a 1.4% gain in March and a 3% gain in April. Retail sales gained 2% in May of 2012. Early reports indicate that the overall May increase could reach 3.5%.

Retail sales in May got a lift from improving weather, rising stock prices, better news on housing and rising consumer confidence. The modest forecast has been hampered by higher gasoline prices and stagnant personal income.

Many retailers no longer report monthly same-store sales. These include Target Corp. (NYSE: TGT), Macy’s Inc. (NYSE: M), Kohl’s Corp. (NYSE: KSS), Wal-Mart Stores Inc. (NYSE: WMT), Abercrombie & Fitch Co. (NYSE: ANF) and American Eagle Outfitters Inc. (NYSE: AEO).

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales, including gasoline, for May rose 5%, compared with the same month in 2012. That is above the Retail Metrics estimate for a gain of 4.4%, including gasoline sales.

L Brands Inc. (NYSE: LTD) said same-store sales for May rose 3%, compared with the same period last year, as well as a Retail Metrics estimate for a rise of 2.9%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for May rose 4.1% compared with the same period a year ago. The Retail Metrics estimate called for a rise of 3.4%. A year ago, The Buckle reported a same-store sales rise of just 0.2%.

Stein Mart Inc. (NASDAQ: SMRT) reported an 8.2% jump in same-store sales for May, well above the 3.7% estimate from Retail Metrics. In May of last year, sales rose 3.1%. Today’s report follows a very strong same-store sales jump of 8% in April.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-stores sales rise of 1.1% for May, well below the 2.9% increase expected by Retail Metrics. In May 2012, the teen apparel store’s sales jumped 13.7%.

Costco shares are up about 1%, at $110.44 in a 52-week range of $87.25 to $115.77.

L Brands’ shares are down 2.3%, at $50.46 in a 52-week range of $40.32 to $53.33.

Stein Mart’s shares are up 2.3%, at $13.30 in a 52-week range was $6.56 to $13.44.

Zumiez’s shares are down 2.3%, at $30.32 in a 52-week range of $17.93 to $41.96.

The Buckle’s shares are trading up 0.5% at $54.14 in a 52-week range of $36.33 to $57.22.

Filed under: 24/7 Wall St. Wire, Research, Retail, Services Tagged: AEO, ANF, BKE, COST, KSS, LTD, M, SMRT, TGT, WMT, ZUMZ

May Retail Sales Due Tomorrow from Costco, Other Chain Stores

Paul Ausick — Wed, 05 Jun 2013 17:31:29 +0000

Same-store retail sales from many of the country’s largest chains are scheduled to hit the tape tomorrow. Sales in March and April rose just 1.4% and 3%, respectively, so the most recent projection from Retail Metrics that sales will rise 2.8% represents a bit of a disappointment. In May of 2012, same-store sales rose 2%.

Walgreen Co. (NYSE: WAG) reported May sales yesterday, and posted a gain of 2.8%. Costco Wholesale Corp. (NASDAQ: COST), Gap Inc. (NYSE: GPS), and Buckle Inc. (NYSE: BKE) are projected to post a year-over-year May sales gain of more than 3%, but Rite Aid Corp. (NYSE: RAD) is expected to post a decline of 1.9%, primarily on poor pharmacy sales.

J.C. Penney Co. Inc. (NYSE: JCP) drags the department store group down with a projected drop in same-store sales of 6.6%. Sears Holdings Corp. (NASDAQ: SHLD) is forecast to see sales drop 3.5% in May.

Among the discount stores, Costco is expected to post a gain of 4.4% excluding gasoline sales and PriceSmart Inc. (NASDAQ: PSMT) is forecast to show a gain of 8.2%. Stein Mart Inc. (NASDAQ: SMRT) is expected to post a 3.7% jump in same-store sales for May.

Wal-Mart Stores Inc. (NYSE: WMT) is among the many stores that no longer report monthly sales, but Retail Metrics forecasts sales at Sam’s Club stores will rise by 2.4% while sales at the company’s other stores will rise by 1%. Overall, Walmart sales are forecast to rise 1.2%, well below last year’s 3% gain in May.

Retail Metrics notes that improving weather, rising stock prices, better news on housing, and rising consumer confidence should have contributed to higher spending in May. The less-than-stirring forecast has been hampered by higher gasoline prices and stagnant personal income.

Filed under: 24/7 Wall St. Wire, Retail, Services Tagged: BKE, COST, featured, GPS, JCP, PSMT, RAD, SHLD, SMRT, WAG, WMT

L Brands, Zumiez Lead Rise in April Retail Sales

Paul Ausick — Thu, 09 May 2013 12:50:07 +0000

Retailers are announcing April same-store sales figures today. Research firm Retail Metrics projected an overall gain of 3.5% year-over-year, compared with a 2% gain in February and a 1.4% gain in March.

In general, April sales benefited from lower prices for gasoline, an extra shopping day, and generally better news on the U.S. economy. Late snow and cold temperatures in parts of the country, the payroll tax increase and the effects of the sequester acted as drags on sales.

Several retailers no longer report monthly same-store sales. These include Target Corp. (NYSE: TGT), Macy’s Inc. (NYSE: M), Kohl’s Corp. (NYSE: KSS), Wal-Mart Stores Inc. (NYSE: WMT), Abercrombie & Fitch Co. (NYSE: ANF) and American Eagle Outfitters Inc. (NYSE: AEO).

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales for April rose 4% compared with the same month in 2012. That is below the Retail Metrics estimate for a gain of 4.9%, excluding gasoline sales.

L Brands Inc. (NYSE: LTD) said same-store sales for April rose 2% compared with the same period last year and a Retail Metrics estimate for a rise of 4.8%. The company also said that it expects to report EPS for the first quarter of $0.46, which is higher than previous guidance of $0.40 to $0.45, but in line with the consensus estimate. L Brands noted that first-quarter earnings took a hit of $0.03 per share due to severance and a higher tax rate.

The Buckle Inc. (NYSE: BKE) reported same-store sales for April rose 6.2% compared with the same period a year ago. The Retail Metrics estimate called for a rise of 1.8%.

Stein Mart Inc. (NASDAQ: SMRT) yesterday reported an 8% jump in same-store sales for April, well above the 3% estimate from Retail Metrics.

PriceSmart Inc. (NASDAQ: PSMT) reported same-store sales for April rose 10.7%, higher than the 10.2% rise estimated by Retail Metrics.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-stores sales rise of 4.6% for April, better than the 4.1% increase expected by Retail Metrics.

The TJX Companies Inc. (NYSE: TJX) reported same-store sales rose 8% in April. The Retail Metrics estimate called for a rise of 6.8%.

Costco shares are inactive in the pr-market, having closed last night at $109.61 in a 52-week range of $82.10 to $110.41.

Limited’s shares are down 1.8%, at $52.25 in a 52-week range of $40.32 to $53.33.

Stein Mart’s shares are inactive this morning, and closed last night at $10.90 in a 52-week range of $6.15 to $11.10.

PriceSmart’s shares are also inactive this morning, and closed last night at $88.52 in a 52-week range of $59.00 to $90.94.

Zumiez’s shares are inactive and closed at $30.41 last night in a 52-week range of $17.93 to $41.96.

The Buckle’s shares are trading up 1.4% at $50.31 in a 52-week range of $36.33 to $51.74.

TJX’s shares are inactive and closed at $50.40 last night in a 52-week range of $39.46 to $50.61.

Filed under: 24/7 Wall St. Wire, Retail, Services Tagged: AEO, ANF, BKE, COST, featured, KSS, LTD, M, PSMT, SMRT, TGT, TJX, WMT, ZUMZ

Not Much Expected from March Retail Sales, Not Much Delivered

Paul Ausick — Thu, 11 Apr 2013 13:55:24 +0000

Retailers are announcing March same-store sales figures today. Research firm Retail Metrics projected an overall gain of 1.5% year-over-year, compared with a 2% gain in February and a 3.9% gain in March of 2012.

In general, March comparable sales were hit by cold, snowy weather that put a crimp in sales of spring merchandise. Other factors contributing the low forecast and results were a later Easter holiday, weaker jobs data and federal budget cuts. Lower gasoline prices, tax refunds and record equity prices were among the positives for the month.

March 2013 is a five-week period for most retailers, ending at April 6 or 7.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales for March rose 4%, compared with the similar period in 2012. That is well below the Retail Metrics estimate for a gain of 5.6%, excluding gasoline sales.

Limited Brands Inc. (NYSE: LTD) said same-store sales for March rose 3%, compared with the same period last year and a Retail Metrics estimate for a rise of 0.4%. The company, though still named Limited Brands, now wants to be known as “L Brands.”

The Buckle Inc. (NYSE: BKE) reported same-store sales for March were flat, compared with the same period a year ago. The Retail Metrics estimate called for a rise of 0.1%.

Stein Mart Inc. (NASDAQ: SMRT) reported same-store sales for March down 2.8%. Retail Metrics estimated a same-store sales decrease of 1.3%% for Stein Mart.

PriceSmart Inc. (NASDAQ: PSMT) reported same-store sales for the four weeks ended March 31 rose 7.9%, below the 8.8% rise estimated by Retail Metrics.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-stores sales rise of 2.1% for March, much better than the 8% decline expected by Retail Metrics.

The TJX Companies Inc. (NYSE: TJX) reported same-store sales fell 2% in March. The Retail Metrics estimate called for a drop of 1.4%.

TJX’s shares are up 0.6% at $47.79 in a 52-week range of $39.38 to $48.20.

Limited’s shares are up 3.1%, at $49.68 in a 52-week range of $40.32 to $52.50.

Costco shares are up 0.2% at $105.92 in a 52-week range of $81.98 to $107.75.

Stein Mart’s shares are down 0.4% at $8.13 in a 52-week range of $6.02 to $9.34.

PriceSmart’s shares are down fractionally at $84.81 in a 52-week range of $59.00 to $86.00.

Zumiez’s shares are up 10.4% at $27.50 in a 52-week range of $17.93 to $41.96.

The Buckle’s shares are trading up 3% at $48.99 in a 52-week range of $36.33 to $51.74.

Filed under: 24/7 Wall St. Wire, Retail, Services Tagged: AEO, ANF, BKE, COST, KSS, LTD, M, PSMT, SMRT, TGT, TJX, WMT, ZUMZ

February Retail Sales Softer Than Expected

Paul Ausick — Thu, 07 Mar 2013 15:25:29 +0000

Retailers are announcing February same-store sales figures today. Research firm Retail Metrics projected an overall gain of 2.5% year-over-year, compared with a 5.1% gain in January and a 4.2% gain in February of 2012.

The research firm said this morning that the overall gain reached just 1.9% in February. Excluding drug stores, same-store sales rose 4.2%. The best performing sector was discount stores; the worst performer was teen apparel.

Several retailers stopped reporting same-store sales this month. Target Corp. (NYSE: TGT), Macy’s Inc. (NYSE: M) and Kohl’s Corp. (NYSE: KSS) join other retailers, including Wal-Mart Stores Inc. (NYSE: WMT), Abercrombie & Fitch Co. (NYSE: ANF) and American Eagle Outfitters Inc. (NYSE: AEO), that no longer report monthly sales figures.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales for February rose 6% compared with February 2012. That is well above the Retail Metrics estimate for a gain of 4.6%, excluding gasoline sales.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the four weeks ended March 3 rose 3% compared with February 2012 and a Retail Metrics estimate for a rise of 2.8%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for February fell by 1.1% compared with the same month a year ago. The Retail Metrics estimate called for a drop of 2.3%.

Stein Mart Inc. (NASDAQ: SMRT) reported same-store sales for the four weeks ended March 2 up 0.6%. Retail Metrics estimated a same-store sales increase of 0.7% for Stein Mart.

PriceSmart Inc. (NASDAQ: PSMT) reported same-store sales for the five weeks ended March 3 rose 8.9%, well above the 6.5% rise estimated by Retail Metrics.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-stores sales decline of 8.9% for the four weeks to March 2, much worse than the 1.3% decline expected by Retail Metrics.

Gap Inc. (NYSE: GPS) reported same-store sales rose 3% for the four weeks ended March 2. The Retail Metrics estimate called for a gain of 2.3%.

Gap’s shares are up 3.6% at $35.70 in a 52-week range of $24.54 to $37.85.

Limited’s shares are up 0.6%, at $45.33 in a 52-week range of $40.32 to $52.50.

Costco shares are up 0.8% at $103.41 in a 52-week range of $81.98 to $105.97.

Stein Mart’s shares are down 1.6% at $8.51 in a 52-week range of $6.02 to $9.34.

PriceSmart’s shares are up 1.3% at $75.32 in a 52-week range of $59.00 to $86.00.

Zumiez’s shares are down 2.0% at $22.64 in a 52-week range of $17.93 to $41.96.

The Buckle’s shares are trading up 1.1% at $44.95 in a 52-week range of $36.33 to $51.74.

Filed under: 24/7 Wall St. Wire, Retail Tagged: AEO, ANF, BKE, COST, featured, GPS, KSS, LTD, M, PSMT, SMRT, TGT, WMT, ZUMZ

January Retail Sales: Some Winners, Some Stragglers (COST, WTSLA, LTD, TGT, BKE, SMRT, M, GPS)

Paul Ausick — Thu, 07 Feb 2013 14:00:07 +0000

Retailers are announcing January same-store sales figures today. Research firm Retail Metrics projects an overall gain of 2.8% year-over-year, compared with a 4.8% gain in December and a 2.9% gain in January of 2012.

The month of January was a five-week month for most retailers.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales for January rose 4% compared with January 2012. That is slightly below the Retail Metrics estimate for a gain of 4.1%.

The Wet Seal Inc. (NASDAQ: WTSLA) reported same-store sales for the five weeks fell 9.4%. Once again transactions fell at the company’s Wet Seal stores. Retail Metrics had projected a same-store sales decline of 5.4%.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the five weeks ended February 2 rose 9%, compared with January 2012 and a Retail Metrics estimate for a rise of 3.4%. The company also said it is “comfortable” with the consensus fourth-quarter earnings per share (EPS) estimate of $1.73.

Target Corp. (NYSE: TGT) posted a same-store sales gain of 3.1% for January. Retail Metrics had expected growth of 1.7%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for January fell by 2% compared with the same month a year ago. The Retail Metrics estimate called for a gain of 1.4%. Same-store sales for the fourth quarter were flat to a year ago, while sales for the full year rose 2.1%.

Stein Mart Inc. (NASDAQ: SMRT) reported same-store sales for the four weeks ended January 26 up 4.6%. Retail Metrics estimated a same-store sales increase of 5.8% for Stein Mart.

Macy’s Inc. (NYSE: M) reported January same-store sales jumped by 11.7%, compared with a Retail Metrics estimate calling for an increase of 5%. The company also said fourth-quarter same-store sales rose 3.9% and fiscal year sales were up 3.7%. Macy’s raised its fourth-quarter adjusted EPS guidance from a range of $1.91 to $1.96 to a new range of $1.94 to $1.99.

Gap Inc. (NYSE: GPS) reported same-store sales rose 8% for the four weeks ended February 2. The Retail Metrics estimate called for a gain of 4%.

Gap’s shares are up 1.1% at $33.00 in premarket trading this morning, in a 52-week range of $21.15 to $37.85.

Wet Seal’s shares are inactive in the premarket today, having closed last night at $2.87 in a 52-week range of $2.42 to $3.73.

Target’s shares are up 0.7% this morning, at $63.15 in a 52-week range of $51.51 to $65.80.

Limited’s shares are down 0.7%, at $46.90 in a 52-week range of $40.32 to $52.50.

Costco shares are up fractionally in premarket trading, at $101.72 in a 52-week range of $81.98 to $105.97.

Macy’s shares are up 3.9% this morning, at $41.00 in a 52-week range of $32.31 to $42.17.

Stein Mart’s shares are inactive, having closed at $8.27 last night in a 52-week range of $6.02 to $9.34.

Filed under: 24/7 Wall St. Wire, Retail Tagged: BKE, COST, GPS, LTD, M, SMRT, TGT, WTSLA

December Retail Sales: A Smaller Bag (COST, WTSLA, LTD, TGT, BKE, SMRT, M, GPS)

Paul Ausick — Thu, 03 Jan 2013 13:31:27 +0000

Retailers are announcing December same-store sales figures today and, to tell the truth, expectations are pretty low. Research firm Retail Metrics projects an overall gain of just 1.9% year-over-year, sharply lower than the 3.5% gain in November.

The month of December was a five-week month for most retailers.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported yesterday that same-store sales for December rose 9% compared with December 2011. Analysts were expecting a rise of 6.5%. Not including gasoline sales or foreign exchange effects, Costco sales rose 8% year-over-year in December.

The Wet Seal Inc. (NASDAQ: WTSLA) reported same-store sales for the four weeks fell 9.7%, well below the 5.4% drop in November. The company said that the decline was due to “lower than expected transactions throughout the month.” That’ll do it.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the five weeks ended December 29 rose 3%, compared with December 2011 and a consensus estimate for a rise of 4.5%.

Target Corp. (NYSE: TGT) posted same-store sales for December 2012 that were “essentially flat” with sales in December 2011. Retail Metrics had expected growth of 3%. The company blamed “softness” in the first three weeks of the month for the disappointing sales.

The Buckle Inc. (NYSE: BKE) reported same-store sales for December rose 1% compared with the same month a year ago. The Retail Metrics estimate called for a gain of 0.3%. Same-store sales year-to-date are up 2.4%.

Stein Mart Inc. (NASDAQ: SMRT) reported December same-store sales up 5.9% year-over-year, and total sales up 6.4%. The company’s interim CEO said that it has been “more than seven years since we have experienced [same-store sales] increases like this,” referring to the chain’s sixth consecutive month of sales growth. Retail Metrics estimated a same-store sales increase of 2.7% for Stein Mart.

Macy’s Inc. (NYSE: M) reported December same-store sales jumped by 4.1%, compared with a Retail Metrics estimate calling for an increase of 4.8%. The company’s CEO said that lingering effects of Hurricane Sandy and “uncertain economic news” posed “significant headwinds” in the month.

Gap Inc. (NYSE: GPS) reported that same-store sales rose 5% for the five weeks ended December 29. The Retail Metrics estimate called for a gain of 3.5%. Year to date, Gap’s sales are up 4% over 2011. Gap announced last night that it was acquiring women’s fashion boutique Intermix Inc. for $130 million, giving the company an entry into the luxury retail market.

Gap’s shares are up 5.2% at $33.00 in premarket trading this morning, in a 52-week range of $17.75 to $37.85.

Wet Seal’s shares are inactive in the premarket today, having closed last night at $2.79 in a 52-week range of $2.42 to $3.73.

Target’s shares are up 2.4% this morning, at $60.22 in a 52-week range of $47.25 to $65.80.

Limited’s shares are down 4%, at $45.50 in a 52-week range of $38.45 to $52.50.

Costco shares are flat in premarket trading, at $101.45 in a 52-week range of $78.81 to $105.97.

Macy’s shares are down 0.8% this morning at $38.00, in a 52-week range of $32.288 to $42.17.

Stein Mart’s shares are inactive, having closed at $7.64 last night, in a 52-week range of $6.02 to $9.34.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Economy, Retail Tagged: BKE, COST, GPS, LTD, M, SMRT, TGT, WTSLA

Same-Store Sales Hit by Hurricane Sandy (COST, WTSLA, LTD, TGT, BKE, SMRT, M, GPS)

Paul Ausick — Thu, 29 Nov 2012 13:32:31 +0000

Several retailers are announcing November same-store sales today, and the reports are generally good. Research firm Retail Metrics projects an overall gain of 3.5% for the month, excluding the impact of drug store sales. Over the past two years November same-store sales have jumped a combined 8.5%. Retail Metrics notes that same-store sales projections for November have declined by 70 basis points since the beginning of the month.

Some retailers also are announcing special dividends for shareholders, payable before the end of the year. The goal is to lessen the tax bite on dividends that may arrive in January.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported yesterday that same-store sales for November rose 6% compared with November 2011. The company also announced a special dividend of $7 per share payable before the end of this year.

The Wet Seal Inc. (NASDAQ: WTSLA) reported same-store sales for the four weeks fell 5.4%, better than September’s drop of 7.6%. The company said that the effects of Hurricane Sandy cost the store about 1%.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the four weeks ended November 25 rose 5%, compared with November 2011 and a consensus estimate for a rise of 3.1%.

Target Corp. (NYSE: TGT) posted a same-store sales drop in November of 1%, well below expectations for a gain of 2.1%. The company blamed weaker-than-expected sales in the first two weeks of the month, likely attributable to the effects of Hurricane Sandy.

The Buckle Inc. (NYSE: BKE) reported same-store sales for November fell 0.1% compared with the same month a year ago. The Retail Metrics estimate called for a gain of 1.8%. Same-store sales year-to-date are up 2.8%.

Stein Mart Inc. (NASDAQ: SMRT) reported November same-store sales up 7.1%, and total sales up 7.5%. The company also declared a special dividend of $1 per share, payable before the end of 2012.

Macy’s Inc. (NYSE: M) reported November same-store sales declined by 0.7%, compared with an estimate for growth of 2.5%. The company attributed the weakness to poor sales in the first two weeks of the month, including “disruption” from Hurricane Sandy.

Gap Inc. (NYSE: GPS) reported same-store sales rose 3% for the four weeks ended November 26. The consensus estimate called for a gain of 3.8%. Year-to-date Gap’s sales are up 4% over 2011.

Gap’s shares are down 2.4% at $34.95 in premarket trading this morning, in a 52-week range of $17.71 to $37.85.

Wet Seal’s shares are inactive in the premarket today, having closed last night at $2.91 in a 52-week range of $2.42 to $3.80.

Target’s shares are down 2.9% this morning, at $61.00 in a 52-week range of $47.25 to $65.80.

Limited’s shares are inactive this morning, having closed at $50.79 last night in a 52-week range of $37.57 to $52.20.

Costco shares are up 0.9%, at $102.58 in a 52-week range of $78.81 to $104.43.

Macy’s shares are also down 2.8% this morning at $39.25, in a 52-week range of $30.38 to $42.17.

Stein Mart’s shares are inactive, having closed at $7.59 last night in a 52-week range of $6.02 to $9.34.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Retail Tagged: BKE, COST, GPS, LTD, M, SMRT, TGT, WTSLA

Retail Sales Pointed Higher (COST, WTSLA, LTD, BKE, JWN, GPS, ZUMZ)

Paul Ausick — Thu, 01 Nov 2012 13:44:17 +0000

Several retailers are announcing October same-store sales today, and the reports are generally good. Research firm Retail Metrics projects an overall gain of 4.6% for the month, excluding the impact of drug store sales. That represents a rise of 0.7% compared with the 3.9% same-store sales increase in September.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported same-store sales for the four weeks ended October 28 rose 7%, compared with October 2011, and above a consensus estimate of 6.6%. Excluding gasoline, same-store sales growth totaled 5%. For the first nine weeks of its current reporting period, same-store sales are also up 7% and total sales are up 9% year-over-year.

The Wet Seal Inc. (NASDAQ: WTSLA) reported same-store sales for the four weeks fell 7.6%, awful but better than September’s drop of 12.7%. The women’s clothing retailer also said that its fourth-quarter loss would now be $0.13 per share, the better end of the prior range. The net loss may be larger depending on potential asset impairment charges.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the four weeks ended October 28 rose 3% compared with October 2011 and a consensus estimate for a rise of 5%. For the third quarter, which ended October 27, same-store sales rose 5% and net sales slipped to $2.05 billion from $2.17 billion a year ago.

Target Corp. (NYSE: TGT) posted a same-store sales gain in October of 2.4%, slightly below expectations for a gain of 2.9%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for October rose 3.8%, compared with the same month a year ago. Same-store sales year-to-date are up 3.2%.

Nordstrom Inc. (NYSE: JWN) reported same-store sales rose 9.7% compared with October 2011, and total sales rose 2.7%. Year-to-date same-store sales are up 7.7%, and total sales are up 11.7% compared with 2011.

Gap Inc. (NYSE: GPS) reported same-store sales rose 4% for the four weeks ended October 27. The consensus estimate called for a gain of 5.6%.

Zumiez Inc. (NASDAQ: ZUMZ) reported that same-store sales rose 0.6% in October, well below an estimate of 4.4% from Retail Metrics. The worse news is that the company lowered its third-quarter guidance from a previous range of $0.42 to $0.45 to a new range of $0.38 to $0.39.

Gap’s shares are down 1.2% at $35.28 in early trading this morning, in a 52-week range of $17.62 to $37.85.

Wet Seal’s shares are up 2.2% to $2.92, in a 52-week range of $2.42 to $4.32.

Target’s shares are down fractionally this morning at $63.48, in a 52-week range of $47.25 to $65.80.

Limited’s shares are down 2.5% this morning at $46.67, in a 52-week range of $37.57 to $52.20.

Costco shares are down fractionally to $98.41, in a 52-week range of $78.81 to $104.43.

Nordstrom’s shares are up about 1% to $57.32, last night in a 52-week range of $44.22 to $58.44.

Zumiez’s shares are down 13.6% at $21.88m in a 52-week range of $20.91 to $41.96.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Retail Tagged: BKE, COST, GPS, JWN, LTD, TGT, WTSLA, ZUMZ

Retail Sales Solidly Higher (COST, WTSLA, LTD, BKE, M, TGT, GPS)

Paul Ausick — Thu, 04 Oct 2012 13:23:12 +0000

Several retailers are announcing September same-store sales today, and the reports are generally good. Gains were not as large as in August, but are providing a positive outlook for the coming holiday shopping season.

Here’s a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported same-store sales for the five weeks ended September 30 rose 6%, compared with August 2011 and a consensus estimate from analysts of 5.7%. Excluding gasoline, same-store sales growth totaled 5%. Costco also reported total sales for its 2012 fiscal year that ended on September 2. Sales totaled $97.06 billion, short of the consensus estimate calling for revenues of $98.52 billion. Sales for the fourth quarter totaled $31.52 billion, just shy of the consensus estimate of $31.59 billion. Same-store sales for the full fiscal year rose 6%.

The Wet Seal Inc. (NASDAQ: WTSLA) reported same-store sales for the five weeks ended September 29 fell 12.7%, awful but better than August’s drop of 18.3%. The company said that sales were “in line” with its expectations and that it expects third-quarter sales to fall by 14% to 18%. The company also sent a letter to shareholders this morning urging them to reject efforts by private equity firm Clinton Group to replace the company’s board.

Limited Brands Inc. (NYSE: LTD) said same-store sales for the five weeks ended September 29 rose 5%, compared with August 2011 and a consensus estimate for a rise of 4.3%. Year-to-date same-store sales also rose 7%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for September fell 0.8%, compared with the same month a year ago. Same-store sales year-to-date are up 3.1%.

Macy’s Inc. (NYSE: M) reported same-store sales rose 2.5%, compared with September 2011. Total sales rose 2.7%, for the five weeks ended September 29. Year-to-date same-store sales are up 3.6% and online sales are up 39%, compared with September 2011.

Target Corp. (NYSE: TGT) said same-store sales rose 2.1% for the five weeks ended September 29, and total sales rose 2.6%.

Gap Inc. (NYSE: GPS) reported same-store sales rose 6% for the five weeks ended September 29. Total sales also rose 8%, with the company’s Old Navy stores posting a 10% gain compared with September 2011.

Gap’s shares are up 1.22% at $36.75 in premarket trading this morning in a 52-week range of $16.51 to $36.76.

Wet Seal’s shares are inactive in the premarket today, having closed last night at $3.16 in a 52-week range of $2.42 to $4.63.

Limited’s shares are inactive as well this morning, having closed last night at $50.24 in a 52-week range of $37.57 to $52.20.

Costco shares are up 0.2% at $99.62 a 52-week range of $78.41 to $103.51.

Target’s shares are up 1.5% at $63.09 in a 52-week range of $47.25 to $65.80.

Macy’s shares are down 0.1% at $39.49 in a 52-week range of $25.28 to $42.17.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Retail Tagged: BKE, COST, GPS, LTD, M, TGT, WTSLA