When all you read is gloom, turn here for a much different perspective.

Thursday, April 8, 2010

U.S. Consumer In Q1: Shop, Shop, Shop

On Thursday, retail stocks rose to 52-week highs as retailers continue a string of strong reports on a resurgent U.S. consumer.

Gap, Ross, and Target all jumped 3% or more on their March sales which easily beat analyst expectations.

More broadly, retail firms reported that collectively their March sales rose a record 9.1%, according to Thomson Reuters data.

And the growth is broad-based. From high-end retailers like Saks Inc. and Nordstrom Inc. to deep discounters like Costco and Target Corp., revenue gains of more than 10% were commonly reported.

Target, Kohls, TJX Cos., Ross Stores Inc. and Aeropostale Inc. all raised their first-quarter earnings guidance, with Target in particular saying it would beat the consensus estimates by 10 cents a share or more.

Thursday retail results continue to paint a picture that points to very strong Q1 GDP growth.











0 comment(s)... (click here to add yours):

Post a Comment

We want to hear from you, and you know you want to say something...

FREE Good News delivered to your Email Inbox (With Easy Unsubscribe at Any Time)

Enter your email address:

Delivered by FeedBurner

If you prefer RSS feed subscription...

If you prefer RSS feed subscription...
...Click This Icon For The RSS Feed