One-month wonder?
U.S. retailers had better-than-expected sales in August.
But with the U.S. housing meltdown, higher gas prices and rising costs for things like food, were the August sales just a one-month blip?
“Shoppers were not spooked like stock market investors by fears of a credit crunch. But that only means that the fallout for households will hit home more gradually in the coming months,” said Frank Badillo, Senior Economist for TNS Retail Forward.
Ken Perkins of Retail Metrics said that 64 percent of retailers beat expectations for the month, but also said that does not signal a trend.
As you ponder the pace of sales in the upcoming holiday season, here are retailers’ August sales results, compared with expectations.
The following table lists select U.S. retail companies that have reported August sales at stores open at least a year, a key retail measure also known as same-store sales.The table has the range of analysts’ estimates* and the actual change in same-store sales reported by the companies^. The consensus estimate# is the average of analysts’ mean estimate.Data is compiled by Reuters Estimates.All figures expressed in percentage change over the same period last year except number of estimates.
| AUGUST-07 | AUGUST-07 | ||||
| Analysts’ | Same-store | No. of | Same-store | ||
| Company | Symbol | estimates* | sales(est)# | Estimates | sales (act)^ |
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| Wal-Mart## | <WMT.N> | 0.0 to 2.0 | 1.6 | 9 | 3.1 |
| Target | <TGT.N> | 4.0 to 6.0 | 4.9 | 11 | 6.1 |
| Costco^^ | <COST.O> | 4.0 to 8.0 | 5.6 | 13 | 2.0 |
| BJ’s Wholesale^^ | <BJ.N> | -0.5 to 4.0 | 1.4 | 11 | 1.4 |
| TJX Cos. | <TJX.N> | 2.0 to 5.0 | 3.8 | 9 | 4.0 |
| Family Dollar | <FDO.N> | 0.0 to 2.0 | 1.3 | 9 | 1.0 |
| Ross Stores | <ROST.O> | 2.0 to 4.0 | 2.9 | 8 | 4.0 |
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| Kohl’s | <KSS.N> | 0.0 to 6.0 | 3.0 | 14 | -0.6 |
| JC Penney^^ | <JCP.N> | -8.0 to -2.0 | -5.2 | 13 | -4.0 |
| Macy’s | <M.N> | -3.0 to 3.0 | 0.0 | 12 | 2.4 |
| Nordstrom | <JWN.N> | 4.0 to 8.0 | 6.3 | 16 | 6.6 |
| Saks | <SKS.N> | 5.0 to 14.0 | 9.1 | 9 | 18.2 |
| Dillard’s | <DDS.N> | -6.0 to 1.0 | -3.0 | 7 | -5.0 |
| Bon-Ton Stores^ | <BONT.O> | -1.0 to 2.0 | 0.0 | 3 | 1.3 |
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| Gap | <GPS.N> | -6.0 to 1.0 | 2.3 | 17 | -1.0 |
| Limited | <LTD.N> | -2.0 to 3.0 | 1.2 | 14 | 1.0 |
| Abercrombie | <ANF.N> | -1.0 to 5.0 | 2.2 | 18 | 6.0 |
| Hot Topic^^ | <HOTT.O> | -6.0 to -1.0 | 2.5 | 10 | -1.1 |
| Chico’s FAS^^ | <CHS.N> | -9.0 to -1.0 | 7.3 | 15 | -9.3 |
| American Eagle^^ | <AEO.N> | 3.0 to 9.0 | 6.1 | 20 | 9.0 |
| Aeropostale | <ARO.N> | -1.0 to 5.0 | 2.5 | 10 | 1.7 |
| Pacific Sunwear | <PSUN.O> | 0.0 to 4.0 | 1.8 | 14 | 9.6 |
| Ann Taylor | <ANN.N> | -3.2 to 1.0 | 1.6 | 12 | 2.9 |
| Children’s Place | <PLCE.O> | -3.0 to 4.0 | 0.5 | 6 | 5.0 |
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| Sharper Image | <SHRP.O> | -15.0 to -10.0 | -12.5 | 2 | 16.0 |
##For U.S. stores, excluding fuel
^Bon-Ton Stores estimate is for Bon-Ton and Carson’s combined
^^Reported on Wednesday

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