February Retail Sales Are SMASHING Expectations, Target Stores Up 7.0%

Payless Shoe Store Aisle High Heels Running Shoes Footwear Retail

Photo: AP Photo/Damian Dovarganes

Retailers slowly reporting February same-store sales and there is one clear consensus: consumers are spending again.Same-store sales across a panoply of companies are beating expectations this morning, particularly impressive considering the difficult comparisons they are stacked on top of. Take a look at the first reporters below:

  • Gap Inc. (GPS): Feb. Same-Store Sales +4.0 per cent, Street Expected -1.4 per cent
  • Limited Brands (LTD): Feb. Same-Store Sales +8.0 per cent, Street Expected +6.2 per cent
  • Macy’s (M): Feb. Same-Store Sales +4.6 per cent, Street Expected +3.5 per cent
  • Target (TGT): Feb. Same-Store Sales +7.0 per cent, Street Expected +5.2 per cent
  • Costco (COST): Feb. Same-Store Sales +7.0 per cent, Street Expected +6.5 per cent
  • Kohl’s (KSS): Feb. Same-Store Sales -0.8 per cent, Street Expected +0.0 per cent
  • TJX (TJX): Feb. Same-Store Sales +9.0 per cent, Street Expected +7.0 per cent
  • Stage Stores (SSI): Feb. Same-Store Sales +3.7 per cent, Street Expected +1.5 per cent

In a note out to investors, Brian Tunick of J.P. Morgan said he expected to see two to three per cent growth over the previous month.

“Looking further into [the first quarter], March will be the toughest two-year comp of 13 per cent, with April facing an 11 per cent comp stack,” Tunick says. “So overall, tough first quarter compares, but retailers are optimistic that the combination of the warm weather and earlier Easter will be supportive of strong sales.” 

Click here for live updates with new retailer results >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

moneygame-us retail