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Today, retailers report same store sales figures for the month of December. Many feared this holiday season saw unusually sales in recent years, so today’s numbers are important to watch.An early read put holiday sales growth at just 0.7 per cent – the weakest figure since 2008, when the country was in recession.
So far this morning, however, the numbers don’t look so bad.
- Gap sales were up 5 per cent in December, beating expectations of a 3.6 per cent rise.
- Costco sales rose 9 per cent, ahead of estimates for a 6.5 per cent gain.
- Macy’s sales were up 4.1 per cent in December, topping estimates of a 3.7 per cent gain.
- Nordstrom sales were up 8.6 per cent versus estimates of a 3.6 per cent rise.
- TJX, the parent company of discount retailers TJ Maxx and Marshalls, saw sales up 6 per cent versus estimates of a 2.4 per cent rise.
- Target, however, reported flat sales, versus estimates of a 1.3 per cent gain.
- Limited Brands – best known for Victoria’s Secret – also missed expectations of a 4.5 per cent rise, up only 3 per cent.
All of the stocks are getting a nice boost in pre-market trading.
We are covering the releases LIVE as retailers report December same store sales figures throughout the day. Click here for updates >