No one is likely to be happy with all of the same-store sales coming from the big retailers.
Wal-mart (WMT) said its sales in February would be up 1% to 2%. After a decent January, the market was probably hoping for more.
Costco (COST), the big warehouse retailer said January was up 2%. Wall Street hoped for over 3%.
Things are so bad at Circuit City (CC) that it will close a ton of stores and change its management structure. Apparently Best Buy (BBY) is beating CC like a red-headed mule.
Target (TGT) seemed to be the exception. January same store sales rose 5.1% and revenue was up 37% to $4.89 billion. Other retailers must be green with envy.
Federated (FD) also had an exceptional month with same store figures up 8.6% and revenue up 19%.
JC Penney (JCP) just matched Wall St. expectations at 3.6%.
The best performance compared to expectations may have been from Nordstrom (JWN) where same store numbers rose 11% and total sales by 42% to $610 million.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
