Several chain stores that still report monthly same-stores sales results will be announcing March numbers after markets close Wednesday and before they open Thursday. Analysts at Retail Metrics are projecting a 0.1% year-over-year increase for the month, not much, but better than the analysts’ earlier estimate for a decline of the same amount.
Costco Wholesale Corp. (NASDAQ: COST) is expected to report late Wednesday. Retail Metrics expects same-store sales to rise 0.7%, including gasoline sales, and 4.5% excluding those sales and the effects of currency exchange rates.
Teen clothing retailer Zumiez Inc. (NASDAQ: ZUMZ) is forecast to report a drop of 6.4% for March. Last year March sales rose 5.5%, so the comparison is a tough one.
Gap Inc. (NYSE: GPS) is expected to post a decline of 5.0% in March same-store sales. The company posted a gain of 2.0% in March of last year. Gap’s Old Navy stores are forecast to see a drop of 6.8%, compared with a year-ago comp of plus 14.0%. Banana Republic stores are expected to report a decline of 8.9%, compared with a decline of 3.0% a year ago.
L Brands Inc. (NYSE: LB), which operates Victoria’s Secret and Bath and Body Works, among other brands, is forecast to post a gain of 1.9%, compared with a 9.0% jump in March 2015. The company guided March same-store sales in a range of 0% to 2%.
Retail Metrics commented:
It is well known that wage increases have been particularly lackluster of the course of this economic recovery, credit has been tighter, and consumers have been unwilling (and unable) to leverage their personal balance sheets to drive consumer spending and thus retail sales significantly higher. … Consumers are shifting an increasing portion of their spending from instore visits to mobile purchases translating into fewer store visits, less impulse purchases, and sluggish sales growth.
The analysts note that car sales are strong thanks to low gasoline prices and that home improvement stores are posting solid same-store sales growth.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.