Retailers, consumers and prices
There is always something getting in the way of rising sales. In the United States, retailers blamed record-setting snow on the East Coast for curbing a spike in February sales
Or so said TJX Companies, which operates the Winners chain in the Great White North, in a pre-recorded call on Thursday. Overall, TJX reported that comparable sales rose 10 percent company-wide in February, but only 3 percent in Canada.
Sales there would have been quite a bit higher “were it not for the Olympics keeping Canadians glued to their TVs,” a spokeswoman said on the recording.
Check out the lackluster start to the holiday season for major U.S. retailers.
The Thomson Reuters same-store sales index rose 0.5 percent in November, while Wall Street experts had been expecting 2.1 percent growth, and 81 percent of companies missed expectations.
Talk about shaking Wall Street’s optimistic belief that this year’s holiday shopping season would be off to a much stronger start than in 2008, when the global economy seemed to be in free fall.
Check out the latest news on U.S. retail sales.
The trend was pretty much the same as it has been lately — most chains posted declines in August sales at stores open at least a year, or same-store sales.
However, many declines were not all that bad and there were a handful of increases, which could be a sign that consumers are really back to shopping.
Check out the generally dismal sales in June, sprinkled with drops of hope.
Sales dropped at several U.S. chains as consumers stayed out of the rain and out of the stores. Still, some of those focused on discounts once again reaped the rewards as those who did go out searched for deals.
Check out some strong sales.
Sure, sales are still down at most chains. Still, anything that’s down less than expected is a good sign in this economy, right?
Sales at Wal-Mart‘s U.S. stores open at least a year jumped 5 percent, topping analysts’ average expectation for a 2.9 percent rise. And in a sign that improving sales are leading to better profitability, retailers including J.C. Penney, TJX and Kohl’s raised their profit expectations for their just-completed first quarter.
Check Out the drop in sales.
It was no surprise that sales were weak in December, though some retailers stood out Thursday for their worse-than-expected performance.
Wal-Mart, the world’s largest retailer, said sales at U.S. stores open at least a year rose just 1.7 percent, while analysts were expecting a 2.8 percent increase. Wal-Mart and other chains such as Macy’s cut guidance for the fourth quarter ending later this month.
Shares of Wal-Mart fell more than 9 percent on Thursday morning, dragging the Dow Jones industrial average into negative territory as well.