The Latest Sales Figures Are Showing That Retailers Had A Pretty Good Holiday Season After All
Today, retailers report same store sales figures for the month of December. Many feared this holiday season saw unusually sales in recent years, so today's numbers are important to watch.
An early read put holiday sales growth at just 0.7 percent – the weakest figure since 2008, when the country was in recession.
So far this morning, however, the numbers don't look so bad.
Gap sales were up 5 percent in December, beating expectations of a 3.6 percent rise.
Costco sales rose 9 percent, ahead of estimates for a 6.5 percent gain.
Macy's sales were up 4.1 percent in December, topping estimates of a 3.7 percent gain.
Nordstrom sales were up 8.6 percent versus estimates of a 3.6 percent rise.
TJX, the parent company of discount retailers TJ Maxx and Marshalls, saw sales up 6 percent versus estimates of a 2.4 percent rise.
Target, however, reported flat sales, versus estimates of a 1.3 percent gain.
Limited Brands – best known for Victoria's Secret – also missed expectations of a 4.5 percent rise, up only 3 percent.
All of the stocks are getting a nice boost in pre-market trading.
We are covering the releases LIVE as retailers report December same store sales figures throughout the day. Click here for updates >
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