News

New York City -- Discounters reported mixed results for December sales, with many, including Target Corp. and Costco Wholesale Corp., posting gains that fell below analysts’ expectations.

Target Corp. said its same-store sales edged up 0.9%, well short of analyst expectations for a  4% increase. The chain said weaknesses in electronics, toys and some home categories offset strength in grocery and apparel items.

NEW YORK -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.

The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.

New York City -- Barnes & Noble said on Thursday that its same-store sales rose 9.7% in the nine week holiday period ended on Jan. 1. It was the chain’s best comparable-store sales performance in more than a decade. Total sales for the period rose 8.2%.

The company said it significantly exceeded both online and in-store sales forecasts, led by strong consumer demand for Barnes & Noble's Nook brand of eReading products.

MINNEAPOLIS - Despite an easy prior-year comparison, Target fell short of its December same-store sales guidance with a disappointing 0.9% gain. The company had forecast December comps in the low to mid single-digit range after it released November results, which saw comps advance 5.5%. Analysts were expecting the company to report a 4% December gain.

Berwyn, Penn. -- Retailers are likely to experience high demand for winter goods during the upcoming week. Beginning this weekend and carrying through next week, virtually all of North America should prepare for below normal temperatures, according to Planalytics. Most locations east of the Rockies can expect temperatures to trend 10°F to 20°F colder than both normal and last year, with the main exception being the Southwest where temperatures will trend normal to slightly above normal.

The fourth installment of family movie night, a collaboration between Walmart and Procter & Gamble, is set to air Jan. 8 at 8 p.m. EST on Fox. The movie is called Change of Plans, and the plot line revolves around how lives can be turned upside down with a phone call. Also of interest is an upcoming CNBC special on Target, but more on that later.

The final holiday numbers are in from online measurement firm comScore and it was a record year. November and December online sales increased 12% to $32.6 billion and, considering the surge in traffic that takes place at Walmart.com during those months and the increasing level of cross-channel integration, the retailer likely captured at least a fair share of the growth.

New York City -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.

The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.