Redbook reported Thursday that U.S. chain store sales, which comprise roughly 10 percent of all retail sales, mostly improved in August and apparel retail stocks inched up by 0.48%, or 29.49 points, in the month. By comparison, the Dow Jones Industrial Average declined 0.17% in August, or 31.36 points.
Teen retailer Tilly’s (TLYS) saw its stock jump 53.6% in August to end the month at $8.73 per share, after reporting that net sales rose 5 percent to $136.4 million in its second quarter. In addition, net income increased from $0.6 million a year ago to $1.4 million or 5 cents per diluted share.
Shares of Beaverton, Oregon-based Nike (NKE), set to release its next quarterly earnings report on Sept. 22, gained 3.86% last month to close at $57.63. This was an improvement on the prior month, when the share price fell to $55.50 after its full-year results fell short of expectations.
After announcing that sales at stores open for at least a year rose by only 4 percent in its second quarter, compared with a 6 percent increase a year earlier, off-price operator TJX Companies (TJX) experienced a 5.24% decline in shares to end August at $77.42.
Discount retailer Dollar General (DG), which expects to operate 15,000 stores by the end of fiscal 2017, closed August at $73.50, losing 22.51% in the month.
Specialty retailer Express (EXPR) announced in August that comparable store sales decreased 8 percent in its second quarter, versus a 7 percent increase the previous year, and its share price suffered as a result—falling more than 20 percent to end the month at $11.86.
Sales are still falling at Gap Inc.’s (GPS) three big brands—Gap, Old Navy and Banana Republic—and its share price fell 3.57% to close August at $24.94.
Macy’s (M) announced plans last month to close 100 stores in early 2017 to focus more on omnichannel, after revealing that sales at stores open for at least a year decreased 2 percent in its second quarter. Thanks to the promise of an enhanced online presence, the company’s share price gained 0.98% in August to end the month at $36.28 and some analysts described its stock as “lucrative.”
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