New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts. Target reported weaker-than-expected same-store sales growth, as June same-store sales rose 2.1% and missed the expected 2.4% rise.
Duckwall-Alco said Thursday it's officially changing its name to Alco Stores, Inc. An amendment at Wednesday’s annual shareholder meeting was approved. The company’s ticker symbol on NASDAQ is now “ALCS.” The 111-year-old chain has 216 locations in 23 states, mostly in small-town environments. Plans are on tap to open five new stores in fiscal 2013, while eight underperforming stores are slated to be closed.
NEW YORK — In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board. After suggesting last week that sales had accelerated and returned to a pre-holiday pace, Target reported Thursday that same-store sales for the month rose 7%, beating Wall Street’s expected 5.2%. Total sales during the period rose 8% to $5.13 billion, boosted by strength in the food, healthcare and beauty categories. Accessories and apparel performed above average as well. Meanwhile, TJX saw same-store sales surge 9%, beating the 7% gain expected by
New York City -- Costco Wholesale Corp. reported a January same-store sales increase of 9%, topping Wall Street expectations and leading the performances of the discount retail category. Analysts polled by Thomson Reuters expected a smaller same-store sales increase of 6.1%. Target Corp. didn’t show the same strength, missing expectations because of strong winter storms during the month. Same-store sales edged up 1.7% for the month, missing the 1.9% increase predicted by Wall Street. "Target's January comparable-store sales were below expectations, particularly in portions of the South and the Northeast," said CEO Gregg Steinhafel. Target said it expects February
Mall-based teen fashion retailer Hot Topic and Midwestern broad lines chain Duckwall-Alco will each close approximately 45 stores in the coming months.
Same-store retail sales for September were up 2.8 percent compared to a gain of 0.9 percent for September 2009, according to Kantar Retail. Last month's sales were slightly below August's increase of 3.4 percent. Among the 31 retailers reporting monthly sales, department stores posted better than average results over last year with apparel and accessory stores following close to the average gain. Meanwhile, food, drug and mass retailers lagged slightly. Zumiez reported the largest gain among all the retailers posting a 17 percent increase, followed by Abercrombie & Fitch at a 13 percent increase and Limited Brands at a