Mixed Bag For November Sales
November sales got off to a weak start because of unseasonably warm weather, but some retailers overcame those early losses with big discounts and extended sales leading up to Black Friday.
“November tends to be weak,” A.G. Edwards analyst Robert Buchanan told CNBC’s “Morning Call." “We’ll get a better number in December.” Buchanan is expecting a “lift” in December figures, particularly on the strong showing so far in the number of shoppers hitting stores.
November’s big winner? Specialty retailer Limited Brands. The company posted a 12% rise in same - store sales, well ahead of the 7.8% Wall Street was expecting.
Wal-Mart rival Target was able to pull away and post some impressive figures. The company reported a 5.9% jump in November sales, edging ahead of analyst estimates by 1%. And wholesale club giant Costco fell short of forecasts, but came in strong with a November sales increase of 5%.