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Macy’s and Nordstrom top estimates in December; Kohl’s misses
New York -- As cash-strapped consumers curtailed holiday spending, department store retailers felt the pinch and some performed better than others in an uncertain environment. The strongest performances were turned in by Macy’s and Nordstrom, both topping estimates.
Overall, analysts looked for 3.3% same-store sales growth for December across 17 chains, down from 4.2% growth in December 2011, according to Thomson Reuters.
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Last-minute surge helps fuel December sales; Gap shines in apparel sector
New York -- An apparel last-minute surge in holiday shopping helped many key retailers report better-than-expected sales in December. Twenty retailers reported sales in December rose an average of 4.5%, compared with the year-ago period, according to the International Council of Shopping Centers. Costco, Gap, Nordstrom and TJX Cos. were among the best performers.