Not a bad performance for a snowy February.
With 28 companies reporting, about 70% of chain retail outlets have beaten estimates for February’s sales for stores open a year or more, counting the change year over year.
The average comp- or same-store increase was 4%, beating the average estimate of Thomson Reuters of a 2.9% increase. And that’s a big improvement from the 4.7% decline, on average, in February of last year.
The group with the biggest surprise were the teen apparel retailers, which had a 7.3% jump, with Abercrombie (ANF) posting a 5% rise versus and expected 6.9% decline; American Eagle Outfitters (AEO) had a 6% rise versus 2% expected; Aeropostale (ARO) saw a 7% rise versus 4% expected; and Zumiez (ZUMZ), as I mentioned last night, had a whopping 11% increase versus 1.2% expected.
The stocks are certainly showing their strength, with Zumiez rising $3.67, or 22%, at $19.68; Aeropostale up $1.93, or 6%, at $37.14; Abercrombie & Fitch up $3.41, or 9.4%, at $39.65; American Eagle Outfitters, however, is off 48 cents, or 2.8%, at $16.98.
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