Posted on 07/07/2011 6:29:17 AM PDT by blam
June Same Store-Sales Surge, Limited Brands Crushes Expectations
Mamta Badkar
Jul. 7, 2011, 9:03 AM
Retailers posted better than expected same-store sales for June. Warm weather is reported to have boosted sales after a soft start to the second quarter last month. The healthy consumer demand comes ahead of the back-to-school shopping season.
Here are some names that crushed expectations (via CNBC):
Limited Brands had a 12% increase in same-store sales crushing expectations of 3.8% gain. Victoria's Secret saw 17% growth, while Bath & Body Works grew 5%. Saks had an 11.9% increase in sales against expectations of 7%.
Kohl's department store had a 7.5% increase in sales against projections of 2.9%.
Costco Wholesale Corp. posted 14% increase in June sales against expectations of 12.7%.
Target saw sales increase 4.5% against expectations of 3.2%. Net sales for the five weeks ending July 2 were $6.256 million up 5.7% from a year ago.
Macy's posted 6.7% increase in sales against expectations of 5.1%. Macy's raised its guidance for second quarter sales to 6%, against previous expectations of 4%. Sales growth came across the company from Macy's and Bloomingdale's stores and online retail sites.
Specialty apparel store Zumiez saw a 9.8% increase in June same-store sales against estimates of 5.6%. Not all retailers did as well however:
Gap missed expectations with 1% sales growth compared with estimates of 2.3%. Retail chain Hot Topic that specializes in pop-culture inspired clothing and accessories posted 0.4% increase in sales against expectations of 2.4%. Department store Stein Mart posted 0.7% sales growth in June against estimates of 1.5%.
(Excerpt) Read more at businessinsider.com ...
Vote for Obama.
Government leeches are doing quite well.
LLS
Of course sales are up, government workers received 16% raises as well as millions in bonuses! DC is thriving!
See, government really can create jobs! Do I really need a /s?
157,000 new jobs and 400,000 new unemployed is hardly anything to get a raging boner about.
These are the times that test retailers’ mettle. The recession is over — and has been for nearly two years — but high unemployment and under-employment and persistent problems in the housing market continue to keep consumer spending in check.
That paragraph is downright comical.
My two favorite stores, a thrift shop and a high-end consignment shop are doing very well. On Saturdays, they are packed and you have to wait for a cart or stand in lines at the checkout. I am not seeing the identifiably poor at these shops, either. I am seeing formerly middle-class folks.
BS our sales are off 30% in May & June 2011 compared to
May & June 2010.
BS our sales are off 30% in May & June 2011 compared to
May & June 2010.
BS our sales are off 30% in May & June 2011 compared to
May & June 2010.
“Crushes Expectations “
So, UNEXPECTED again. Seems Obama couldn’t get right expecting the Sun to rise in the morning.
We women can’t hold off on clothing forever, you know...
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