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Consumer Confidence Highest in 4 Years, Most US Retailers Gave Good SSSG

Financial News Network
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April 06, 2012 AT 12:17 AM
Most US retailers reported YoY March same store sales growth above estimates, led by gains of apparel and department stores, such as Target, Gap, Macy's and Nordstrom. March is a month when retailers like to sell merchandise at full price, but the good numbers we see represent both price and volume. The warmer weather definitely helped with the volume, but the general sentiment of the discretionary consumption is markedly improving.Consumer confidence inched up last week to the highest level in 4 years and continuing claims for unemployment benefits came in less than expected at 3,338,000. So despite of the difficult situation in Europe that's effecting the global market, our domestic indicators are reaffirming the gradual recovery.For more news and updates, keep it right here at the Financial News Network. I'm Julia Sun.Companies with March SSSG Beat:Target (TGT) +7.3% vs +5.6% Guides Q1 higherGap (GPS) +8.0% vs +4.4% Macy's (M) +7.3% vs +4.7% Ltd Brands (LTD) +8.0% vs +4.4%Nordstrom (JWN) +8.6% vs +5.7%TJX (TJX) +10% vs +4.9% Guides Q1 higherRoss Stores (ROST) +10% vs +4.6% Kohl's (KSS) +3.6% vs +2.4% Zumiez (ZUMZ) +14.1% vs +8.9%Stage Stores (SSI) +4.7% vs +3.3%Cato (CATO) +5.0% vs (3.5%)Bebe (BEBE) +7.2% vs +5.9%Rite Aid (RAD) +3.6% vs +2.4% Companies with March SSSG Missed:Costco (COST) +6.0% vs +6.4% Saks (SKS) +6.3% vs +6.4%Walgreen (WAG) (6.8%) vs (4.8%)Wet Seal (WTSLA) (7.8%) vs (5.0%)Buckle (BKE) +6.4% vs +9.1