Thanksgiving Weekend Retail Sales Up From Last Year, Macy’s and Costco Big Winners

Retail (NYSEARCA:XRT) sales for the Thanksgiving weekend amounted to $52.4 billion up from $45 billion last year, according to the National Retail Federation.

But retailer sales data for November shows a gaping divide between those that did well and those that did not quite get the shopper footfall they expected. Out of 13 retailers that declared data for November, eight reported sales that ran ahead of expectations, as per Thomson Reuters.

Among the winners was Macy’s (NYSE:M), boosted by deep discounts and early sales. Costco Wholesale Corp’s (NASDAQ:COST) same store sales rose 9% bettering analyst estimates of 6.5%. Limited Brands Inc (NYSE:LTD) was also among the winners, beating estimates, and declaring a special $2 dividend to boot. Buckle Inc (NYSE:BKE), teen apparel retailer, was also favored with better shopper response and sales better than expected.

Among the disappointed retailers, Target (NYSE:TGT) came out with weak results showing that shoppers were not loosening purse strings so much. Gap’s (NYSE:GPS) same store sales were down 5%, due to a conservative discount policy. “This is just the start of the holiday selling season and we expect December to remain fiercely competitive and highly promotional,” said Glenn Murphy, Chairman and Chief Executive Officer of Gap.

“The consumer has become insanely focused on promotions,” said David Bassuk, head of the global retail practice at AlixPartners. “The consumer is willing to spend money, that’s the good news. But consumers need to be convinced.”

Macy’s, Inc. (NYSE:M): M shares recently traded at $32.09, down $0.24, or 0.74%. They have traded in a 52-week range of $21.69 to $33.00. Volume today was 4,604,433 shares versus a 3-month average volume of 9,078,610 shares. The company’s trailing P/E is 11.76, while trailing earnings are $2.73 per share.

Costco Wholesale Corporation (NASDAQ:COST): COST shares recently traded at $86.64, up $1.34, or 1.57%. They have traded in a 52-week range of $68.13 to $87.68. Volume today was 1,953,770 shares versus a 3-month average volume of 2,653,240 shares. The company’s trailing P/E is 26.24, while trailing earnings are $3.30 per share.

Buckle Inc. (NYSE:BKE): BKE shares recently traded at $40.39, up $0.43, or 1.08%. They have traded in a 52-week range of $33.97 to $47.97. Volume today was 201,600 shares versus a 3-month average volume of 576,019 shares. The company’s trailing P/E is 13.16, while trailing earnings are $3.07 per share.

Limited Brands, Inc. (NYSE:LTD): LTD shares recently traded at $42.19, down $0.14, or 0.33%. They have traded in a 52-week range of $28.05 to $45.45. Volume today was 2,545,498 shares versus a 3-month average volume of 3,443,600 shares. The company’s trailing P/E is 14.35, while trailing earnings are $2.94 per share.

Target Corp. (NYSE:TGT): TGT shares recently traded at $52.31, down $0.39, or 0.74%. They have traded in a 52-week range of $45.28 to $60.97. Volume today was 5,260,801 shares versus a 3-month average volume of 6,683,770 shares. The company’s trailing P/E is 12.17, while trailing earnings are $4.30 per share.

Gap Inc. (NYSE:GPS): GPS shares recently traded at $18.77, up $0.08, or 0.43%. They have traded in a 52-week range of $15.08 to $23.73. Volume today was 1,949,321 shares versus a 3-month average volume of 6,944,480 shares. The company’s trailing P/E is 10.81, while trailing earnings are $1.74 per share.

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