U.S. retailers were turning in decent same-store sales in droves this morning, with 75% of them beating expectations for December, according to data from Thomson-Reuters. Sears (SHLD), for example, posted a 0.4% increase for the month, well above estimates. The company forecast profit for the January-ending Q4 of $3.36 to $4.06 per share, well ahead of the $2.65 analysts have been projecting. The shares were up $12.86, or 15%, pre-market, at $101.73.
Sears doesn’t always report monthly numbers; the December report is an exception. So, a more important data point is the company’s projection that quarter-to-date sales were down only 2%, which is ahead of the 2.4% decline that Thomson-Reuters is projecting for the full quarter.
Deutsche Bank upgraded the stock this morning, raising it to “Hold” from “Sell” and increasing the firm’s target price to $97 from $54.
TJ Maxx (TJX) had the best reported showing, up 14% for month versus the estimate of 5.6%. Ross Stores (ROST) was also strong, up 12% versus 6.9% expected. Aeropostale (ARO) saw sales rise 10% versus 3.1% expected, and Saks (SKS) saw a 9.9% rise versus 2.8% expected.
The biggest beat, according to Thomson data, was the Children’s Place (PLCE), up 4% versus an expected drop of 4%. Children’s Place stock rose $1.53, or 5%, to $35.24.
Other strong showers included Target (TGT), up 1.8% for the month, versus the 0.2% increase expected. Target shares were up 64 cents, or 1.3%, at $50.30. Costco (COST) had a 9% December increase, versus 7.9% expected. The stock was up 42 cents, or 0.7%, at $60.42.
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