Retailers Totting Up Better-Than-Expected Holiday Numbers
Retailers capitalized on a surge of last-minute shopping and recently turned in a fistful of holiday sales reports showing better-than-expected results.
"December started slowly, but ended with a strong surge at the end of the month," Shelley E. Kohan, RetailNext's vice president of retail consulting said.
The exchange-traded fund SPDR S&P Retail (NYSE: XRT) closed Thursday up more than 1 percent at $96.99.
J C Penney Company Inc (NYSE: JCP) said holiday season same-store grew 3.7 percent.
American Eagle Outfitters (NYSE: AEO) said same-store sales in the holiday period grew 2 percent and the company boosted its fourth-quarter earnings forecast to between $0.32 and $0.34 a share, from a previous estimate of $0.30 to $0.33 a share.
Aeropostale Inc's (NYSE: ARO) decline in December same-store sales slowed to 9 percent, from 15 percent in the year-earlier period, while the company trimmed its prediction of fourth-quarter operating losses.
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