LONDON--(Marketwire - Nov 7, 2012) - In terms of retail sales, 2012 has been largely characterized by cautious optimism; an improvement over last year but still lacking the gusto some hoped for. September sales improved a solid 2.1 percent year-over-year, and total third quarter retail sales are thought to have gained 4.8 percent compared to a year ago.
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The improvements seen in consumer spending could make for some positive third quarter financial results from the Department Stores industry, within which J.C. Penney and Kohl's operate, many of which have yet to release their quarterly reports. Industry players are also expected to benefit from a variety of cost containment and efficiency boosting initiatives which they have been implementing. Analyst opinion on Kohl's accessible for free at
Looking forward, according to the National Retail Federation holiday budgets this year will be a conservative $749.51, up slightly from $740.57 last year. Nevertheless, concerns linger as to whether U.S. spenders will be able to maintain their current pace of spending. Although the economy has been adding some jobs for the past 25 months, wages have trailed inflation, rising only 1.6 percent in the past year.
Earnings Release Reminder - J. C. Penney will be announcing its third quarter 2012 financials on Friday, November 9, prior to the market open. See what our analysts have to say on J. C. Penney. Follow the Link below
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