New York City -- Costco Wholesale Corp. reported a January same-store sales increase of 9%, topping Wall Street expectations and leading the performances of the discount retail category.
Analysts polled by Thomson Reuters expected a smaller same-store sales increase of 6.1%.
Target Corp. didn’t show the same strength, missing expectations because of strong winter storms during the month. Same-store sales edged up 1.7% for the month, missing the 1.9% increase predicted by Wall Street.
"Target's January comparable-store sales were below expectations, particularly in portions of the South and the Northeast," said CEO Gregg Steinhafel. Target said it expects February same-store revenue to rise by a percentage in the low single digits.
BJ’s Wholesale Club had more than just same-store sales to report. The discounter, which saw same-store sales rise 2.7%, said Thursday that it has decided “to explore and evaluate strategic alternatives, including a possible sale of the company,” according to a New York Times report. (See related story.)
In other same-store sales results for January:
- TJX reported a 2% rise.
- Sales at Ross Stores were up 3%.
- Big Lots saw flat comps during the month.
- Fred’s reported a 3.3% rise.
- Duckwall-ALCO same-store sales edged up 0.2%.