Same-Store Sales Buoyed Investors, Retail Sector Up
Thursday, July 07, 2021 11:18 AM

Retails stocks rose after retailers reported better-than-expected June same-store sales figures, giving a positive signal heading into the key back-to-school and second-half selling season. The S&P 500 Retail Index was up 1.93 percent to 554.88 points on Thursday. Among the company’s that reported same-store sales figures today are:

Target Corp. (NYSE: TGT) said Thursday that revenue for stores open at least one-year rose 4.5 percent in June as shoppers picked up groceries and seasonal merchandise. Shares were trading higher by 6.79 percent to $51.73 on Thursday.

Kohl’s Corp. (NYSE: KSS) also reported an increase of 7.5 percent in comparable store-sales and a 9.2 percent increase in total sales for the month of June. Sales for the month were $1.75 billion, compared with $1.6 billion in the same period last fiscal year. Shares were up 5.38 percent to $54.90.

Macy’s Inc. (NYSE: M) reported Thursday that for June same-store sales rose 6.7 percent and it again raised its estimate of sales for the fiscal second quarter. In June, total sales rose 7.5 percent to $2.39 billion from $2.23 billion. Macy’s is trading higher by 3.22 percent to $29.80 after the release.

Shares of Limited Brands Inc. (NYSE: LTD) jumped 3.92 percent to $40.85 on Thursday, as the company had reported better than expected comparable store sales. The company reported 12 percent increase in same-store sales, beating Wall Street expectation of 3.8 percent gain.

TJX Companies Inc. (NYSE: TJX) reported sales of $2.1 billion for June, up 8 percent over the $2 billion reported in the same period last year. The company said that comparable store sales for June increased by 3 percent. Shares were up 3.09 percent to $55.45 today.

Saks Inc. (NYSE: SKS) also reported an increase of 11.9 percent in comparable store sales for June. Sales in June totaled $258.6 million, up 8.7 percent, compared with sales of $237.9 million in June 2010. SKS was up 1.49 percent to $11.58.

Costco Wholesale Corp. (Nasdaq: COST) said Thursday that its June sales at stores open at least a year rose 14 percent as total sales for the five-week period ending July 3 rose 18 percent to $8.69 billion. Shares were trading lower by 1.15 percent to $81.69 on Thursday.

J.C. Penny Company Inc. (NYSE: JCP) said Thursday its June comparable-store sales rose 2 percent, compared with the Wall Street target of 2.3 percent in a survey of analysts by Thomson Reuters. Shares were down 2.78 percent to $33.24.