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Discounters post solid results for January; Macy’s misses estimates
New York City -- The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations. Overall, discounters reported stronger results than department stores, which appeared to take a greater hit due to the unseasonably warm weather and heavy promotions.
As the first month of the year, January accounts for only 20% Nov.-Jan. sales, and 7% of annual sales, according to RetailMetrics.
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NRF: Valentine’s Day total spending to hit $17.6 billion
Washington, D.C. -- Consumers are set to put out all the stops this Valentine’s Day, with the average person shelling out $126.03, up 8.5% over last year, according to NRF’s 2012 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGinsight. Total spending is expected to reach $17.6 billion.