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Mixed bag for apparel retailers and department stores in September; Gap shines
NEW YORK — Apparel retailers and department stores reported monthly revenue results for September that were mixed, as Gap Inc. and Limited Brands posted gains that beat Wall Street estimates, while Macy's and Kohl’s missed expectations.
However, many analysts said spending was fairly strong for the month.
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Costco and TJX beat estimates in September
NEW YORK — Costco Wholesale Corp. reported a better-than-expected 6% rise in September same-store sales, helped by higher gasoline prices and a stronger dollar. Excluding the impact of gasoline prices and foreign exchange, comparable September same-store sales rose 5%.
Net sales rose 8% to $9.31 billion in the five weeks ended Sept. 30. Costco, which currently operates 608 warehouses, said it plans to open up to 14 new warehouses prior to the end of calendar year 2012.