Most retailers posting March same-store sales Thursday delivered results that were better than analysts' expectations, providing some reassurance that consumers are still spending despite the late Easter and unusually cold weather.
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"For the most part retailers are posting a little better than expected March performance," said Dana Telsey, CEO of Telsey Advisory Group.
The Thomson Reuters Same-Store Sales Index rose 1.7 percent in March, beating estimates, which called for a decrease of 0.7 percent.
The unusually chilly weather during March is another factor analysts pointed to for impacting retail sales.
"The fact that we are having a stronger than expected March in spite of the weather is a good sign," said Telsey.
Analysts are also expecting same-store sales to be hurt with Easter arriving later (April 24), compared to April 4 last year.
Telsey said with the Easter calendar shift more of the sales will occur in April.
Among the strongest performances was Limited Brands said same-store sales rose 14 percent, while analysts were only expecting 1.5 percent increase.
Costco beat analysts' estimates with a 7 percent rise in same-store sales for March, excluding sales from gasoline prices and strong foreign currencies. Analysts were expecting a 5.5 percent increase.
The warehouse club company said the Easter calendar shift positively impacted same-store sales for March. Costco is closed on Easter.
Meanwhile, Target posted a drop of 5.5 percent, compared to analysts' forecasts of a decrease of 6.4 percent.
Gap posted a decrease of 10 percent, against estimates of a drop of 7 percent.
On Wednesday, Hot Topic reported a decline in same-store sales. The teen retailer delivered a 5 percent drop in March, compared to analysts' forecast of a decrease of 6.2 percent.
Zumiez reported same-store sales climbed 8.9 percent, beating analysts' expectations of 4.1 percent.