Retail Rundown: March Results Looking Better-Than-Expected
Sales at U.S. retailers may turn out to be another one of those "green shoots" that seems to popping up just in time for spring. We highlighted yesterday that retail and restaurant stocks were en fuego, but today's sector move is putting yesterday's to shame as, this morning, numerous retailers reported March same store sales that were "not that bad".
The SPDR S&P Retail ETF (NYSE: XRT), commonly referred to as "the XRT", is up nearly 4% today, which is marginally better than yesterday's 3.4% move higher.
Below are some highlights from just a few of the numerous retail sales reports which were released earlier: (listed by market cap)
The SPDR S&P Retail ETF (NYSE: XRT), commonly referred to as "the XRT", is up nearly 4% today, which is marginally better than yesterday's 3.4% move higher.
Below are some highlights from just a few of the numerous retail sales reports which were released earlier: (listed by market cap)
- Wal-Mart (NYSE: WMT) saw same store sales in March rise 1.4%, ex-fuel, worse than the Street had been expecting. The stock is down 4.5%.
- Target (NYSE: TGT) reported a 6.3% drop in comps during March. The stock is up 4.9%.
- Costco's (Nasdaq: COST) same store sales fell 5% during March, below what analysts had been expecting. Shares are down 2.4%.
- The TJX Companies (NYSE: TJX) saw March comps rise 2%, and also said its Q1 EPS will be at the high end of its previously issued guidance. The stock is up 1%.
- Gap (NYSE: GPS) reported its comps were down by 8% during last month. The stock is up 2.7%.
- JC Penney's (NYSE: JCP) March comps fell 7.2%, but the retailer also raised its Q1 loss outlook. Shares of JCP are up 8% on the guidance.
- Ross Stores (Nasdaq: ROST) reports a 3% jump in March same store sales and also raised its Q1 EPS guidance. The stock is up 4.4%.
- Macy's (NYSE: M) saw March comps fall 9.2%, but the number came in better than the Street had been expecting. The stock is up 11.5%.
- Limited Brands (NYSE: LTD) same store sales came in better-than-expected at down 9%. The Street had been expecting a drop of 12%. Shares are up 6.6%.
- American Eagle Outfitters' (NYSE: AEO) March comps fell 16%, but the company also raised its Q1 outlook, boosting shares today. The stock is currently up 8.4%.
- Abercrombie & Fitch (NYSE: ANF) saw its March same store sales fall a whopping 34%. Shares are down 11% on the results.
- BJ's Wholesale (NYSE: BJ) despite reporting an 8.5% increase in March comps, ex-items, shares of the stock have fallen today. The stock is down 4.5%.
- The Buckle (NYSE: BKE) saw March same store sales rise 13.7%, much better than what the Street was expecting. The stock is up 6.6%.
- Gymboree (Nasdaq: GYMB) sees Q1 comps down in the mid-teens range, better than its previous guidance of down 20-25%. Also boosted its Q1 EPS guidance. Shares are up 22%.
- 99¢ Only Stores (NYSE: NDN) reports a 6.2% increase in March comps. The stock is up 5.7%.
- The Children's Place (Nasdaq: PLCE) reports a 2% drop in March comps. The stock is up 10.5%.
- Saks' (NYSE: SKS) March comps fell 23.6%, but better than the Street had been expecting. The stock is currently up 15%.
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