After double-digit declines in November of last year, most retailers are set to report sales at least flat, year over year, this month, and in some cases an increase in the mid to high single digits, according to a Thomson Reuters survey of analysts’ same-store sales projections.
Costco (COST) may show one of the biggest increases according to six estimates gathered, with sales expected to rise 8.3% this month, versus the 5% decline in November of 2008, and ahead of the 5% increase in October.
TJ Maxx (TJX) may do even better, with a 9.8% increase in November, compared to a 12% decline a year earlier and a 10% gain last month.
Target (TGT) is expected to see flat sales after a 0.1% decline in October.� JW Nordstrom (JWN), which had the biggest same-store increase among department stores in October, at 6.5%, won’t perform quite as robustly this month, with sales rising perhaps only 1.5%. (As you may recall, Wal-Mart (WMT) earlier this year stopped reporting monthly same-store sales results, so Reuters includes no estimates for them.)
Among the biggest dogs this month may be Dillard’s (DDS), which could see another 8% decline after October’s 8% drop, and Saks (SKS), which may revese October’s 0.7% increase with a 15.6% decline. Seems Saks has already passed its period of “easy comps,” making future gains more difficult.
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