Retailers Report Very Strong April Sales Figures Despite Rising Oil Prices

US retailers reported strong monthly sales figures Thursday morning as solid Easter sales helped offset rising gas prices which have certainly weighed on consumers recently.

Data collected by Retail Metrics showed a sharp 8.7 percent rise in same-store sales for the month of April, better than the 7.7 percent rise the firm had been expecting, and the strongest monthly gain over the last decade. Retail Metrics said about 60 percent of retailers which offered comparable retail figures this morning beat estimates.

Below are some highlights:

• Target (NYSE: TGT) - comps up 13.1 percent;
  
  
• Costco (Nasdaq: COST) - up 12 percent;
  
  
• Limited (NYSE: LTD) - up 20 percent, announced a new $500 million buyback program and raised Q1 guidance;
  
  
• JCPenney (NYSE: JCP) - up 6.4 percent, raised Q1 guidance;
  
  
• Macy's (NYSE: M) - up 10.8 percent;
  
  
• Gap (NYSE: GPS) - up 8 percent, cut Q1 guidance;
  
  
• Saks (NYSE: SKS) - up 5.8 percent;
  
  
• Kohl's (NYSE: KSS) - up 10.2 percent;
  
  
• Abercrombie & Fitch (NYSE: ANF) - up 10 percent (three months ended April 30, 2011); and
  
  
• Nordstrom (NYSE: JWN) - up 7.6 percent

Stay tuned to StreetInsider.com's Retail Sales category on the first Thursday of the month to get all the breaking retail sales figures.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In