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The Financial & Risk business of Thomson Reuters is now Refinitiv
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The Thomson Reuters Same Store Sales Index registered a preliminary 4.4% gain for January, beating its 2.9% final SSS estimate. Please note, these results are not final. Gap will report January SSS results on Feb. 6.
Zumiez and Costco smashed expectations, posting positive surprises in January – and those results pulled up the index. However, most retailers missed their estimates.
For five consecutive months in a row, Zumiez has posted robust SSS results. For January, the retailer came up on top with a 9.4% SSS result, and above its 2.0% final estimate. Meanwhile, Costco posted the second strongest result at 7.0%, above its 3.9% final SSS estimate.
On the flip side, L Brands received a hit from its Victoria Secret’s division’s -10.0% SSS, while its Bath and Body Works’ group posted a 12.0% comp. On the flip side, teen retailer The Buckle registered the weakest result in our retail universe at -17.6%, followed by Cato Corp’s -15.0% SSS result.
January marks the last month of Q4 2016. The Thomson Reuters Quarterly Same Store Sales Index, which consists of 80 retailers, is expected to post 0.4% growth for Q4 (vs. 1.2% in 4Q 2015).
Exhibit 1. Performance — Overall and Compared to Expectations
Source: I/B/E/S estimates
Exhibit 2. Beat — Met — Missed
Source: I/B/E/S estimates
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