What Did Same Store Sales Details Tell Us About Top Retailers?
Higher gas and food prices are starting to take a toll on retailers (NYSE:XRT). Out of the 24 companies releasing May same-store sales data today, 15 retailers missed Wall Street expectations (Thomson Reuters), 8 beat expectations, and 1 lone retailer delivered in-line.
Here’s your Cheat Sheet to the company specific same-store sales figures:
BJ’s Wholesale Club (NYSE:BJ) increased same-store sales +7.4% versus expectations for +7.1%. Also increasing same-store sales were The Buckle Inc. (NYSE:BKE) with an +8.8% increase versus expectations for +6.3%, Costco Wholesale Corp. (NASDAQ:COST) with +13% versus +11.2% expected, Macy’s Inc. (NYSE:M) with +7.4 versus +5.2% expected, Nordstrom Inc. (NYSE:JWN) with +7.4% versus a projected +5.9%, Rite Aid Corporation (NYSE:RAD) with +1.3% versus +0.5%, Ross Stores Inc. (NASDAQ:ROST) with +4% versus +3.7%, and Saks Inc. (NYSE:SKS) with a whopping +20.2% versus a +6.5% expected increase
Among companies that failed to exceed Thomson Reuters expectations were The Bon-Ton Stores, Inc. (NASDAQ:BONT) at -2.3% versus +0.3%, The Cato Corporation (NYSE:CATO) with -3% versus +2% projected, Destination Maternity Corporation (NASDAQ:DEST) with -6.9% versus -1%, Dillards Inc. (NYSE:DDS) with +2% instead of the expected +3%, Fred’s Inc. (NASDAQ:FRED) with +0.2% versus expected +1.6%, The Gap Inc. (NYSE:GPS) with -4% versus -1%, Hot Topic Inc. (NASDAQ:HOTT) with +0.4% versus +1.4%, Limited Brands Inc. (NYSE:LTD) with +6% versus an expected +7%, Stage Stores Inc. (NYSE:SSI) with flatlining at 0% after an expected +2.1% increase, Stein Mart Inc. (NASDAQ:SMRT) with +0.7% versus +1.6%, Target Corporation (NYSE:TGT) with +2.8% versus +3.5% expected, Kohls Corporation (NYSE:KSS) with +0.8% versus 2.9% expected, The Wet Seal Inc. (NASDAQ:WTSLA) with a +2.9% increase versus projected +4%, J.C. Penney Companies Inc. (NYSE:JCP) with -1% versus a projected +3.4%, and TJX Companies Inc. (NYSE:TJX) with +2% versus +3.1% expected.
The one company getting it exactly right was Zumiez Inc (NASDAQ:ZUMZ) with the +7.8% increase that was projected.
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