Retailers posted their revenue performances at store open at least twelve months today and it showed that shoppers in the United States did not hold back from dipping into their pockets despite the ongoing threat of a slow down in the economy.
The past month has really highlighted how volatile the markets are with mixed economic data leading to an extreme amount of swing trading in markets around the world. The month was closed out with a Hurricane on the east coast that also set industries back, forcing them to shut up shop while the storm raged past.
Despite all of that though retailers in the U.S. seen a 4.6 percent rise, at store open at least one year, on average among the 26 companies in the retail sector.
Here’s a review of how some retailers performed in the month of August.
TJX Co. (NYSE:TJX) said that revenue at stores open at least one year in August was up by 1 percent. The company was restricted from performing towards the end of the month due to Hurricane Irene. Analysts had expected the company to report a 2 percent increase in revenue.
Target (NYSE:TGT) seen its revenue at stores open at least one year jump by 4.1 percent in August. The company cashed in on the Back-To-School sales rush which helped Target top analysts expectations of a 3.5 percent increase.
Dillard’s (NYSE:DDS) also seen a strong month due to Back-To-School sales. The company reported that revenue at stores open at least one year grew by 4 percent. Total revenue for the four month ending on August 27th was $441.7 million.
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