Retail Sales for June Expected to Post Gains

Before you go, we thought you'd like these...
Before you go close icon

100267991Retailers are announcing June same-store sales figures today. Research firm Retail Metrics projected an overall gain of 3.9% year-over-year, compared with a 3.5% gain in May and a 2.8% gain in April. Retail sales gained just 0.2% in June of 2012.

Retail sales in June got a lift from the warmer weather, which drove sales higher heading into the important back-to-school season. The U.S. economy looks somewhat better as job growth continues, and gasoline prices have moderated somewhat as well. But as Family Dollar Stores Inc. (NYSE: FDO) demonstrated yesterday, consumers are being careful in their spending, focusing on consumables more than other goods.

Many retailers no longer report monthly same-store sales. These include Target Corp. (NYSE: TGT), Macy's Inc. (NYSE: M), Kohl's Corp. (NYSE: KSS), Wal-Mart Stores Inc. (NYSE: WMT), Abercrombie & Fitch Co. (NYSE: ANF) and American Eagle Outfitters Inc. (NYSE: AEO).

Here is a rundown:

Costco Wholesale Corp. (NASDAQ: COST) reported that same-store sales, including gasoline, for May rose 6% compared with the same month in 2012. That is above the Retail Metrics estimate for a gain of 5.3%, including gasoline sales.

L Brands Inc. (NYSE: LTD) said same-store sales for June were flat with last year. Retail Metrics estimate called for a rise of 2.3%.

The Buckle Inc. (NYSE: BKE) reported same-store sales for June rose 3.4% compared with the same period a year ago. The Retail Metrics estimate called for a rise of 3.4%. A year ago, The Buckle reported a same-store sales fell 2.5%.

Stein Mart Inc. (NASDAQ: SMRT) reported a 6.5% jump in same-store sales for June, well above the 4.5% estimate from Retail Metrics. In June of last year, sales fell 0.5%.

Zumiez Inc. (NASDAQ: ZUMZ) posted a same-stores sales rise of 1% for June, well below the 2.1% increase expected by Retail Metrics. In June 2012, the teen apparel store's sales jumped 8.2%.

Costco shares closed at $113.65 last night in a 52-week range of $93.11 to $115.77, and are inactive this morning.

L Brands' shares are down fractionally in premarket trading this morning, at $50.61 in a 52-week range of $42.49 to $53.33.

Stein Mart's shares closed at $13.76 last night in a 52-week range was $6.56 to $14.33.

Zumiez's shares closed at $31.06 last night in a 52-week range of $17.93 to $38.60.

The Buckle's shares closed at $54.96 last night in a 52-week range of $36.80 to $57.22.

Filed under: Retail Tagged: AEO, ANF, BKE, COST, KSS, LTD, M, SMRT, TGT, WMT, ZUMZ
Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading