Retailers helped lift the markets after beating many of analysts’ expectations. Numbers include an in-line 1% drop for Gap, a better-than-expected 18% for Abercrombie and Fitch, 7% growth for TJX and a percent above that for Ross Stores. Department store Macy’s recorded sales 2.3% lower, half the drop that was expected while JC Penney saw another 1.4% lower sales. Kohl’s beat the flat forecast by seeing sales grow 5.5%. Victoria Secret maker Limited Brands surprised analysts with a increase, one not seen since Augusut of 2007.
- Saks was lower 11.6%
- Nordstrom was better with 2.4% drop
- Target saw another 1.7% decline
- Dillard’s slid 6%
- BJ’s Wholesale fell 0.5%
- Aerospostale comp sales rose 19%
- American Eagle sales were flat
- American Apparel reported a still bad 15% decline
- bebe had one of the worst with 23.6% decrease
- Wet Seal lost just another 4.5% in sales
A story on retail sales here.