NEW YORK—Snow, sleet and freezing rain didn’t keep all shoppers from their appointed rounds in January, as many retailers are reporting generally good sales for the month.
The fear was that holiday buying in November and December, combined with cold and stormy conditions throughout most of the country last month, pushed shopping to the bottom of many priority lists.
But initial reports show consumers shrugged off the bad weather, while the location of stores also played a role. Costco Wholesale Corp., which has a bigger presence in the lesser-hit western part of the U.S., as well as significant international operations, posted a 9% rise in comparable-store sales, or sales at stores open at least a year. Analysts were expecting a 6.1% gain from the warehouse club operator.
Macy’s Inc. reported better-than-expected same-store sales in January, despite the harsh weather.
“Sales in January were restrained by the series of snowstorms that caused widespread store closings along the East Coast and in the Southeast,” said Terry J. Lundgren, the company’s chairman, president and chief executive.
Target Corp., said its same-story sales were below expectations, “particularly in portions of the South and the Northeast,” said Gregg Steinhafel, the company’s chairman and chief executive.
Limited Inc., which has been doing well for the entire quarter, which closes at the end of this month, raised its guidance for the period after posting a 24% jump in same-store sales for January. Analysts were expecting a 6.7% increase from the operator of Victoria’s Secret and Bath & Body Works.
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