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Most Retailers Topping Estimates for March Sales
Published: Thursday, 8 Apr 2010 * 7:38 AM ET Text Size By: CNBC.com
Warm weather, an early Easter and a more confident consumer appear to have boosted retail sales in March, with the vast majority of the retailers who have reported results so far topping analysts' estimates.
Analysts were expecting retailers to report their strongest monthly sales gains in 16 years. So far, many retailers, including Costco [COST 61.72 --- UNCH (0) ], Limited [LTD 25.68 --- UNCH (0) ], and Zumiez [ZUMZ 22.36 --- UNCH (0) ] have outpaced Wall Street's expectations.
If the other reports continue this trend, it will mark the seventh straight month of improving sales, according to data from Thomson Reuters. Last year, retailers posted a 5 percent decline in March.
Consumers, encouraged by some positive economic trends, are showing signs that they are coming out of hibernation. Most notably, the employment picture is turning more positive, having shown its fastest rate of job creation in three years.
That is a sharp contrast to last year, when consumers were very cautious about their spending amid widespread fear about the economy and massive corporate layoffs.
The more upbeat mood, combined with Easter's arrival on April 4, likely helped get shoppers to the mall to buy spring apparel and other items.
Still, there have been some misses. Most notable include a shortfall at Abercrombie & Fitch [ANF 47.54 --- UNCH (0) ], which posted a 5.0 percent increase in March same-store sales. Analysts were expecting the teen retailer to see same-store sales rise 6.6 percent.
RELATED LINKS
Current DateTime: 04:34:24 08 Apr 2010
LinksList Documentid: 36225756
Reviving Consumers' Mood to SpendAmericans Say Now is Time to Buy a HouseFewer Consumer Loans Are Being Paid LateConsumer Nation Blog
Investors will be combing through Thursday's results to see if retailers expect the trends to continue. Retail stocks have been outperforming the market and there may be some concerns that the stock prices have gotten ahead of themselves.
Among the companies still to report same-store sales Thursday include discounters Target
Published: Thursday, 8 Apr 2010 * 7:38 AM ET Text Size By: CNBC.com
Warm weather, an early Easter and a more confident consumer appear to have boosted retail sales in March, with the vast majority of the retailers who have reported results so far topping analysts' estimates.
Analysts were expecting retailers to report their strongest monthly sales gains in 16 years. So far, many retailers, including Costco [COST 61.72 --- UNCH (0) ], Limited [LTD 25.68 --- UNCH (0) ], and Zumiez [ZUMZ 22.36 --- UNCH (0) ] have outpaced Wall Street's expectations.
If the other reports continue this trend, it will mark the seventh straight month of improving sales, according to data from Thomson Reuters. Last year, retailers posted a 5 percent decline in March.
Consumers, encouraged by some positive economic trends, are showing signs that they are coming out of hibernation. Most notably, the employment picture is turning more positive, having shown its fastest rate of job creation in three years.
That is a sharp contrast to last year, when consumers were very cautious about their spending amid widespread fear about the economy and massive corporate layoffs.
The more upbeat mood, combined with Easter's arrival on April 4, likely helped get shoppers to the mall to buy spring apparel and other items.
Still, there have been some misses. Most notable include a shortfall at Abercrombie & Fitch [ANF 47.54 --- UNCH (0) ], which posted a 5.0 percent increase in March same-store sales. Analysts were expecting the teen retailer to see same-store sales rise 6.6 percent.
RELATED LINKS
Current DateTime: 04:34:24 08 Apr 2010
LinksList Documentid: 36225756
Reviving Consumers' Mood to SpendAmericans Say Now is Time to Buy a HouseFewer Consumer Loans Are Being Paid LateConsumer Nation Blog
Investors will be combing through Thursday's results to see if retailers expect the trends to continue. Retail stocks have been outperforming the market and there may be some concerns that the stock prices have gotten ahead of themselves.
Among the companies still to report same-store sales Thursday include discounters Target