Retailers Post Gains in February

Macy’s Inc. posted a 5.8% increase in same-store stores, well above the 3.7% percent increase expected by analysts. “Our fiscal 2011 started off with a stronger-than-expected February performance at both Macy’s and Bloomingdale’s,” said Terry Lundgren, chairman, president and chief executive officer. “Consumer reaction to new spring merchandise has been encouraging.”

Limited Brands Inc. reported another strong month, with comparable-store sales rising 12%, highlighted by a 15% increase at Victoria’s Secret. However, Gap Inc.’s 2% decline came in shy of estimates for a 1% increase as all four of its business units posted decreases.

The Buckle Inc.’s 2.1% increase fell short of estimates. Among other youth retailers, Zumiez Inc. and The Wet Seal Inc. generated increases of 12.8% and 7%, respectively, while another West Coast chain, Hot Topic Inc., reported a 1.4% decline that was better than anaylsts had expected.

Susan McGalla, chief executive officer of Wet Seal, noted that results for the month were helped by “continued strength in our dress business at Arden B, where our additional investment in this category is yielding excellent results.”

Dillard’s Inc. came in below estimates with a 1% decline for the month, while Stein-Mart Inc. exceeded them with an 8.2% increase. Target Inc. was up 1.8% for the month, slightly below consensus estimates.