Combined US retailers´sales rise 3.4%

"It was a very promotional Christmas," said Adrianne Shapira, a retail analyst at Goldman Sachs. "We've been calling it was a 'White-knuckle Christmas.' It came late and it came on sale." On average, same-store sales rose 3.4 percent.

For November and December combined, holiday sales rose 3.4 per cent, a solid increase, but still behind last year's 3.8 per cent pace. Retailers collectively reported a 3.5 per cent increase in monthly revenue at stores open at least a year — an indicator of a merchant's health, according to the International Council of Shopping Centers' tally of 25 merchants, reported Canadian Business.

On average, same-store sales rose 3.4 percent, a touch higher than the 3.3 percent estimate from Thomson Reuters I/B/E/S. The gain also outpaced last December's 3.1 percent same-store sales gain.

"The holiday season was OK," said to the Canadian magazine Michael P. Niemira, chief economist at the International Council of Shopping Centers. "But because of the extremely competitive environment, stores had to do whatever it took to get those sales, and that affected profits."

"The holiday results reflect trends we can continue to expect into the New Year," said for the CNBC Frank Badillo, a senior economist at Kantar Retail. "We're seeing weak-to-modest growth overall that hides pockets of strength skewed toward upscale retailers and value-focused retailers that win over shoppers at the expense of their competitors."

Limited Brands Inc., Macy's Inc. and Nordstrom Inc. posted strong revenue gains that beat analysts' estimates. Macy's and Limited even boosted their earnings outlooks. In contrast, Target Corp., Kohl's Corp., and J.C. Penney Co. cut their earnings outlooks after reporting weaker-than-expected sales.

Target posted a 1.6 per cent gain in December as consumers waited until the last minute to shop and electronics sales were weak. Nordstrom had an 8.7 per cent increase in revenue at stores opened at least a year. That was above the 5.1 per cent forecast. Saks Inc., which operates Saks Fifth Avenue, posted a 5.8 per cent increase, meeting Wall Street estimates.

J.C.Penney reported a slim 0.3 per cent increase in revenue at stores open at least a year. It noted better trends in its stores during the week leading up to Christmas and increases in traffic and orders on its website during the week after Thanksgiving and the week before Christmas. In the same vein, Kohl's posted a 0.1 per cent decline, well below Wall Street's 2.2 per cent estimate. "Our December sales results were short of our expectations although much improved over November's results," said Kevin Mansell, Kohl's chairman, president and chief executive officer in a statement.

Among speciality retailers, Limited, the parent of Victoria's Secret and Bath and Body Works, saw the most spectacular results as revenue at stores open at least a year rose 7 per cent in December.