Specialty retailers report better-than-expected February sales

New York City Specialty retailers, particularly those targeted at teen shoppers, had plenty to cheer about in February, with many reporting same-store sales increases that beat analysts’ expectations.

The industry appeared on track to report their sixth straight month of rising same-store sales, with 70% of retailers surpassing Wall Street expectations, according to Thomson Reuters. Even Abercrombie & Fitch, which has struggled throughout the downturn, outdid the Street. The teen retailer reported a 5% increase in same-store sales in February. Analysts had expected the company's same-store sales to decline by 6.9%. Total sales for the four weeks ended Feb. 27 rose 16% to $198.1 million.

Aeropostale, a strong performer the past year, said its February same-store sales rose 7%, better than the 4% expected by Wall Street analysts. Net sales for the four-week period ended Feb. 27 increased 15% to $126.4 million. The New York-based apparel retailer said it was "very pleased with the strong customer reaction to its spring merchandise assortment."

Heavy and frequent snow, however, and persistent cold weather did hurt some retailers with operations more concentrated in the storm-hit regions, including Stage Stores, which reported a worse-than-expected 3.9% decline.

"A good early response to our spring merchandise was not enough to overcome the negative impact of unseasonably cold temperatures in the south and several major snow storms," said Stage Stores CEO Andy Hall.

In other February same-store sales results:

• American Eagle Oufitters said its sales rose 6%. Analysts, on average, had expected same-store sales to rise 2%, according to Thomson Reuters. Total sales for the four weeks ended Feb 27 rose 6% to $188 million.

• Gap reported a 3% increase, better than the 1.8% increase Wall Street analysts expected. The San Francisco retailer said total sales for the four weeks ended Feb. 27 rose to $838 million from $795 million. Sales were flat at namesake Gap stores, up 6% at Banana Republic, up 5% at Old Navy and flat internationally. Gap said results were weakest in the Northeast, which was plagued by storms during the month, and strongest in the West.

• The Buckle sales climbed 5.1%, beating analysts' expectations. Net sales for the month rose 9.7% to $69.4 million, up from $63.3 million during the same period last year. The retailer, which sells clothing and shoes, said sales in stores open at least a year climbed 5.1% for the four-week period that ended Feb. 27.

• Limited Brands’ sales rose 10%, narrowly beating analysts' expectations.

• The Wet Seal reported a 4.7% increase in sales.

• Cato reported a 3% rise in sales.

Analysts polled by Thomson Reuters expected a smaller sales increase of 6.2%.