via WSJ MarketBeat
June swoon? Not for the retailers.
Karen Talley at Dow Jones Newswires reports that retailers posted an aggregate 6.5% gain in same-store sales in June, the best month since February 2004, according to Thomson Reuters. (That doesn’t include March-April because of how Easter slides around in the calendar.)
In addition, Karen reports that 87% of retailers topped same-store sales expectations, the best performance since Thomson Reuters began tracking the sales data.
Investors are gobbling up most retailers today. Target tops the S&P 500 gainers list, up 6.6%. Kohl’s is up 6.1%, Urban Outfitters
is up 6.1%, Gap is up 3.9%, Macy’s is up 3.1%, Lowe’s is up 2.6%, Tiffany is up 2.3%, Nordstrom is up 3.1% and Wal-Mart is up 1.6%.
Among the few laggards: J.C. Penney and Costco are each down about 1%.
