Retail
May Retail Sales Due Tomorrow from Costco, Other Chain Stores
Published:
Last Updated:
Walgreen Co. (NYSE: WAG) reported May sales yesterday, and posted a gain of 2.8%. Costco Wholesale Corp. (NASDAQ: COST), Gap Inc. (NYSE: GPS), and Buckle Inc. (NYSE: BKE) are projected to post a year-over-year May sales gain of more than 3%, but Rite Aid Corp. (NYSE: RAD) is expected to post a decline of 1.9%, primarily on poor pharmacy sales.
J.C. Penney Co. Inc. (NYSE: JCP) drags the department store group down with a projected drop in same-store sales of 6.6%. Sears Holdings Corp. (NASDAQ: SHLD) is forecast to see sales drop 3.5% in May.
Among the discount stores, Costco is expected to post a gain of 4.4% excluding gasoline sales and PriceSmart Inc. (NASDAQ: PSMT) is forecast to show a gain of 8.2%. Stein Mart Inc. (NASDAQ: SMRT) is expected to post a 3.7% jump in same-store sales for May.
Wal-Mart Stores Inc. (NYSE: WMT) is among the many stores that no longer report monthly sales, but Retail Metrics forecasts sales at Sam’s Club stores will rise by 2.4% while sales at the company’s other stores will rise by 1%. Overall, Walmart sales are forecast to rise 1.2%, well below last year’s 3% gain in May.
Retail Metrics notes that improving weather, rising stock prices, better news on housing, and rising consumer confidence should have contributed to higher spending in May. The less-than-stirring forecast has been hampered by higher gasoline prices and stagnant personal income.
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.