Retailers got the gift of better-than-expected sales this holiday season.Can the trend continue?
About a dozen retailers have reported December sales so far, and the results support the perception that the industry turned in a solid performance in the crucial year-end period.
Sales excluding newly opened or closed locations came in higher than Wall Street’s modest expectations for growth, a sign that sharply lower gasoline prices, declining joblessness and a stronger economy are spurring consumers to spend more, a trend that could continue into 2015, analysts said.
The stronger sales led nearly half of the retailers that reported results on Thursday to raise their financial forecasts for the current quarter, including American Eagle Outfitters Inc. and Aéropostale Inc., teen retailers that have been struggling to reinvent themselves. None of the retailers lowered their forecasts, according to Retail Metrics.
Thursday, January 08, 2015
Retailers’ Results Point to Solid Holiday Season: Lower Gasoline Prices, Declining Joblessness Spur Consumers to Spend
The Wall Street Journal reports:
