Retail Sales Confirm That Wall Street Got WAY Too Optimistic About The Recovery

After March same store retail sales (SSS) rose by a 9.1% year over year thanks to an early Easter, analysts had far more subdued expectations of 1.7% growth for April according to Reuters.

Yet the majority of retailers who have reported so far have missed these lower expectations. According to the data below sourced from CNBC, 15 companies have missed their same store sales expectations vs. 9 meeting or beating expectations.

14 13 companies have reported negative year over year SSS, while only 8 9 reported growth.

Standout outperformers have been Gap (GAP) and Aeropostale (ARO):

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While some ugly misses have come out for Costco (COST), Dillards (DDS), Abercrombie (ANF), and Hot Topic (HOTT):

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