The SPDR S&P Retail ETF XRT is continuing about 1.6 percent higher Friday afternoon, extending Thursday's 0.6 percent gain. Traders in the space are responding to monthly retail sales figures, released over Wednesday and Thursday of this week.
Given the frequent citing of weather by a plethora of companies throughout the winter months, investors have been anxious to get a reading on the consumer heading into the spring. As one of the most front-facing segments of the economy, the retail space is a great place to start.
Retail market research firm Redbook on Thursday said same-store sales in the US during April jumped 6 percent. This was the first positive monthly reading so far in 2014. In January, February and March of this year, Redbook showed US same-store sales declined 0.1 percent, 1.3 percent and 0.5 percent, respectively.
Retail Metrics, another research firm in the retail group, also reported April same-store sales growth of 6 percent. The firm had been expecting growth of just 3.9 percent.
Some individual highlights from this week's data:
Market News and Data brought to you by Benzinga APIs- Gap GPS - same-store sales up 9 percent, first-quarter earnings expected $0.56-$0.57/share vs $0.53/share;
- Costco COST - same-store sales up 5 percent
- L Brands LB - same-store sales up 8 percent, first-quarter EPS outlook raised from $0.44-$0.49 to $0.50-$0.52; and,
- The Buckle BKE - comps growth 0.8 percent.
- Gap - FY14 EPS from $2.83 to $2.89;
- L Brands - FY14 EPS from $3.18 to $3.31;
- The Buckle - FY14 EPS from $3.42 to $3.43; and,
- Urban Outfitters URBN - FY14 from $1.99 to $2.02.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in