Sign up USA
Proactive Investors - Run By Investors For Investors

Decreasing number report May same store sales; Costco sees 5% jump

Decreasing number report May same store sales; Costco sees 5% jump

U.S. retailers started posting their same-store sales results for the month of May on Thursday, but the dwindling number of retailers that report the metric has made it more difficult to get a clear picture of the industry as a whole.

Revenue in stores open at least one year is a key indicator of a retailer's health because it excludes results from stores recently opened or closed. 

The nine retailers tracked by Thomson Reuters—down from 11 retailers in April —are expected to show 4.7% growth in same-store sales, compared to 3.8% growth a year ago as warmer weather and promotions helped boost May sales. So far, eight of the companies have reported and posted 4.6% growth.

Costco Wholesale Corp. (NASDAQ:COST), the largest U.S. warehouse-club chain, said comparable-store sales, excluding fuel, rose 5 percent in May, surpassing analyst estimates of 4.9 percent according to Bloomberg, but missing estimates of 5.5 per cent according to Thomson Reuters. Net sales at the Issaquah, Washington-based retailer increased 7 percent to $8.13 billion for the four-week period ended June 2. The shares advanced 0.8 percent to $110.00 in early trading in New York. The stock has gained approximately 11 percent this year through Wednesday.

L Brands Inc. (NYSE:LTD), the operator of the Victoria’s Secret lingerie chain, posted a 3 percent rise in same-store sales for the four weeks ended June 1. Analysts polled by Thomson Reuters expected a same-store sales increase of 3.2 percent. Columbus, Ohio-based company, which operates 2,876 stores, said net sales for the period rose to $737 million, from $671.9 million a year earlier. The shares dropped 1 percent to $51.14

The Buckle Inc. (NYSE:BKE), a teen apparel retailer, said revenue at stores open at least a year climbed 4.1 percent in May. The results topped analyst expectations of a 3.3 percent rise, according to a poll by Thomson Reuters. The Kearney, Nebraska-based company, which operates 444 retail stores in 43 states, said its total revenue rose 4 percent to $72.8 million in the four weeks ended June 1, compared with a year earlier. The shares edged up 0.3 percent to $54.01. The stock gained approximately 21 percent so far this year.

Cato Corp. (NYSE:CATO), a retailer of fashion apparel and accessories, reported a 2 percent drop in same-store sales for the four weeks ended June 1. The Charlotte, North Carolina-based company said net sales for the period decreased 3 percent $81.7 million. The company operated 1,307 stores in 31 states as of June 1. The shares added 0.3 percent to $25.43.

Zumiez Inc. (NASDAQ:ZUMZ), a specialty retailer of action sports related apparel, footwear, equipment, and accessories, said comparable store sales increased 1.1 percent for the four-week period ended June 1, compared to a comparable store sales jump of 13.7 percent for the four-week period ended May 26, 2012. The shares slid 0.6 percent to $30.81. The stock gained 57 percent this year through Wednesday.

Gap (NYSE:GPS) is slated to report May sales after the market closes Thursday.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

December 28 2017
Apparently, at some point in their lives every person in the UK will hold or touch a Lego brick - Parallel is building a business around the famous plastic bricks
mobile phone
January 22 2018
Tremor is already in profit a year ahead of expectations and is a blueprint for similar acquisitions in the future.
picture of Hunger Games cast
November 27 2017
Some of the most famous films ever made have been backed by FFI since it was founded in 1950

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use