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Retailers Reporting Strong Comparable Sales
This week, several big-box retailers reported earnings. Despite the number of supply chain issues companies are facing and the elevated inflation consumers are seeing, comparable sales are still strong.
The data from these companies suggest consumers are in great shape. However, it's possible some of these sales might be from consumers doing some early holiday shopping, and next quarter's numbers might fall short of expectations.
- $WMT "I'll begin with Walmart U.S. Comp sales of 9.2% or 15.6% on a 2-year stack is remarkable growth. The gains we've seen in market share for grocery and strong back-to-school results indicate our inventory position has improved."
- $TGT "Third quarter comparable sales grew 12.7%, reflecting double-digit growth in every one of our core merchandising categories. Even within those core categories, sales strength was broad-based, and virtually every area of the business grew over last year. This shows the power of our multi-category assortment in driving guest relevance and affinity for Target."
- $TJX "Overall, open-only comp store sales when compared to fiscal 2020 or calendar year 2019 increased an outstanding 14%. Importantly, our open-only comp sales growth was just as strong at the end of the quarter as it was at the start of the quarter. Once again, we saw phenomenal comp growth in our home categories across each of our divisions as well as a mid-single-digit comp increase in our overall apparel businesses."
- $LOW "Our momentum continued this quarter with comparable sales up 2.2% for the total company and 2.6% for the U.S. on top of over 30% growth last year. This resulted in comp sales of 33% for the total company and 33.7% for the U.S. on a 2-year basis."
- $HD "Sales for the third quarter were $36.8 billion, up 9.8% from last year. Comp sales were up 6.1% from last year with U.S. comps of positive 5.5%"
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