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Stocks closed lower Thursday, after the Dow and S&P 500 briefly touched fresh all-time highs. Meanwhile, the U.S. dollar rose above the key threshold of 100 yen for the first time since April 2009.
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Stocks closed lower Thursday, after the Dow and S&P 500 briefly touched fresh all-time highs. Meanwhile, the U.S. dollar rose above the key threshold of 100 yen for the first time since April 2009.
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Wall Street analysts got ahead of themselves with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high, and consumers were still worried about their prospects.
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A number of top U.S. retailers reported disappointing April sales as consumers gravitated toward discount chains and bad weather delayed spring shopping in much of the country.
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*Buckle, Zumiez shares rise as sales top views. That was less than the 4.3 percent increase Wall Street expected. Wall Street got ahead of itself with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high and consumers were still worried about their prospects.
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The Buckle Inc. 6.2 pct. Ross Stores Inc. 7 pct. Wet Seal Inc. -2.9 pct.
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*TJX, Costco miss estimates; Ross Stores, L Brands beat. April 11- Several top U.S. retailers, including Costco Wholesale Corp and T.J. Maxx parent TJX Cos Inc, reported weaker-than-expected March sales as cold weather and lingering concerns about the job market chilled shoppers' enthusiasm.
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Retailers broadly missed analysts' estimates for same-store sales in March, a month that typically sees cold weather and slow hiring in the early weeks.
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April 11- Costco Wholesale Corp reported a slightly smaller-than-expected jump in same-store sales in March on Thursday, hurt by weak international results and lower gas prices, while Victoria's Secret parent L Brands Inc reported better-than-expected sales at all of its chains.
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*TJX, Costco miss estimates; Ross Stores, L Brands beat. Several top U.S. retailers, including Costco Wholesale Corp and T.J. Maxx parent TJX Cos Inc, reported weaker-than-expected March sales. Costco's sales at stores open at least a year were up 4 percent, less than the 5.2 percent jump analysts expected.
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*Costco same-store sales up 6 percent; Gap up 3 percent. March 7- Gap Inc and Costco Wholesale Corp were among several U.S. chains on Thursday to report stronger-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
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*Costco comparable sales up 6 percent, Limited up 3 percent. March 7- Victoria's Secret parent Limited Brands Inc and Costco Wholesale Corp were among several U.S. chains on Thursday to report stronger-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
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After a difficult January, when shoppers first felt the effect of a payroll tax hike that lowered take-home pay by 2 percent, some retailers got a little relief in February from growing employment and a rising stock market.
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*Costco February comp sales up 6 percent, Limited up 3 percent. March 7- Victoria's Secret parent Limited Brands Inc and Costco Wholesale Corp reported better-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
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*January sales at Macy's, Target, Costco exceed Wall Street views. *Kohl's beats but does not raise profit forecast. Macy's Inc, whose shares rose 0.4 percent, was an exception.
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Many top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.
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Beginning of a divergence? Sales of bonds have been the fuel for the stock market rally. However, stocks have moved sideways in the last few days, but the bond market is not being sold.
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*January sales at Macy's, Target, Costco exceed Wall Street views. Macy's Inc said sales at stores open at least a year rose 11.7 percent last month, easily beating forecasts, as the company benefited from its speed in getting new merchandise into its stores. Macy's shares were up 3 percent in early trading.
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Costco Wholesale Corp said January sales at stores open at least a year, or same-store sales, rose 4 percent, slightly ahead of Wall Street projections for a 3.9 percent gain. Other retailers reporting stronger-than-expected sales were the teen-oriented Zumiez Inc, which raised its profit forecast, and department store chain Stage Stores Inc..
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*Same-store sales at Limited, Costco top expectations. Nov 29- U.S. retailers got a lift over the long Thanksgiving weekend, driving gains in November sales despite some pressure earlier in the month from superstorm Sandy, but the results are not expected to match the gains of a year earlier.