Check out earnings on the affluent side
 
J. Crew beat analysts estimates for the third quarter and posted a surprising 21 percent revenue increase.
 
The company said its focus on fashion for more affluent customers helped boost revenue.
 
And speaking of affluent, Tiffany came in  this morning with an 18 percent sales jump, helped by growth in most markets, even Japan, which had seen declining sales. Earnings also jumped, but largely on the gain from the sale of the jeweler’s flagship store in Japan.
 
An higher-end customer base seems to be working for the companies as a way to avoid the woes plaguing other retailers.
 
Tiffany is so far pleased with sales in the all-important November-December holiday season, though the vast majority of the holiday business is yet to come.
 
On the other end of the spending spectrum, Big Lots said it now expects same-store sales to fall in the holiday quarter. The close-out retailer had previously forecast a 1 percent to 3 percent increase.

Big Lots said consumers are focused on deals, loading up on discounted items during their shopping trips and not browsing for much more.

That is problematic for retailers, who sacrifice profits on the discounted items, hoping shoppers will then make an extraneous purchase or two — and salvage their margins.

More details on holiday sales will come next week, when retailers report November sales figures. 
 
Also in the basket:
 
October personal spending, income edge up
 
Woolworth’s seen as front runner for NZ’s warehouse

(Photo: Reuters)