October Retail Sales

The ICSC reported that chain-store sales gained 4.1% in October and sees November sales up 3.5-4.5%. Reuters noted that U.S. same-store sales were up 4.0% last month and Redbook's reported a slightly higher figure of 4.1%. According to Retail Metris, retail sales overall gained 3.7% versus the estimated 2.8%. On the BenzingaPro Profeed Calendar, retail sales for Buckle Inc

gained 2.6% versus the estimated -1.80%. Other notable gains include Limited Brands

8% increase versus -2.5% estimate and an 8.8% increase by PriceSmart Inc.

. On Benzinga's calendar, Zumiez

missed estimates by 0.2% at 1.2% gains and Abercrombie & Fitch

reported a -14% loss. Retailers noted that discounts and promotions helped drive traffic. Although many retail stores have stopped reporting monthly results, October is a transitional month. The back-to-school season is more correlated with holiday sales. J.C. Penney Company

CEO Myron Ullman commented that “We expect the holiday season to be very competitive.”