Consumer Companies Up As Target Reports Strong Holiday Sales -- Consumer Roundup
Shares of retailers and other consumer companies rose after another strong holiday-sales report from a major store. Shares of Target Corp. (>> Target Corporation) rallied after the discounter said same-store sales for the months of November and December rose 3.4%, reversing a decline from a year earlier, in another sign that chain stores are figuring out strategies to counter the competitive threat from Amazon.com Inc. (>> Amazon.com). Target's report echoed those from Macy's Inc. (M), J.C. Penney Co. (>> J C Penney Company Inc) and Kohl's Corp. (>> Kohl's Corporation), all of which reported sales growth in the critical holiday months. Shares of Urban Outfitters Inc. (>> Urban Outfitters, Inc.) slid after the youth fashion chain posted same-store sales growth short of investor expectations.
-Rob Curran, [email protected]