Retail Sales in U.S. Top Projections as Spring Inventory Attracts Shoppers

[Purveyor]

Source: Bloomberg

By Allison Abell Schwartz

March 5 (Bloomberg) -- Wal-Mart Stores Inc., TJX Cos. and Aeropostale Inc. reported better February sales than anticipated as spring merchandise drew bargain-hungry shoppers back to stores.

Sales at U.S. stores open at least a year rose 5.1 percent at Wal-Mart, the world’s largest retailer said today. That outpaced its quarterly forecast of 1 percent to 3 percent growth. Aeropostale reported an 11 percent rise, higher than the 6.9 percent estimate in a survey by Retail Metrics Inc. Sales at TJX, which runs the TJ Maxx chain, were unchanged, better than an estimated 2.1 percent drop.

Retailers had less merchandise left over from the holidays, and offered new spring inventory in February, which brought more people out to shop than the previous month, according to Richard Jaffe, an analyst at Stifel, Nicolaus & Co. in New York. Warmer weather mid-month also helped lure customers, he said.

“With a late Easter this year, we believe retailers are exceptionally well-levered to benefit, should the warm weather return and, hopefully, fuel increased consumption,” Jaffe said. Easter falls on April 12 this year; it was March 23 in 2008.

Retail Metrics, the Swampscott, Massachusetts-based researcher, said U.S. comparable-store sales rose 0.7 percent in February, better than the 1.1 percent decline analysts had estimated and the first positive result since September. The outcome was helped mostly by Wal-Mart, said Ken Perkins, president of Retail Metrics.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=amDh03Xni23c&refer=home

[madaboutharry]

1. There were some good prices and

nice things for spring at Old Navy when I was there last week. I bought a really nice shirt for spring for 10 bucks. There were rather long lines at the cash registers. Though, people had only a couple of things, not a pile of stuff. I actually think people wanted something colorful to cheer themselves up. Well, I did at least.

[rvablue]

2. Kick, b/c don't we need even a trace of good news......thanks for posting!

And I'd like to hear some more anecodotal evidence of what DUers are seeing around their areas.

Me, I have not been shopping since the day after Christmas....groceries only!

[Purveyor]

3. I'm trying to find at least one postitive news article a day but it is a challenge.

I'm hoping that early 2010 presents us with a better opportunity to post reports of positive results of the Obama plan.

"Keep hope alive"!