NEW YORK-Fueled by stronger economic fundamentals, retail chains tracked by HFN reported healthy increases in April same-store sales.
The TJX Cos. said same-store sales last month rose 8 percent for all of its nameplates combined. Ross Stores posted an increase of 7 percent. Costco’s gain was 4 percent, not counting sales of gasoline; factoring in gas sales, Costco’s April increase was 6 percent.
Noting that Ross’ increase came on top of a 7 percent pickup in April of last year, Michael Balmuth, vice chairman and CEO, said this year’s gain was above Ross’ expectations for the month. Balmuth attributed the result to “our ongoing ability to deliver compelling bargains to today’s value-focused customers.”
Carol Meyrowitz, CEO of TJX, said the company’s consolidated increase was at the high end of its expectations for April. “Customer traffic drove comp increases in all divisions,” Meyrowitz said, “as consumers responded to our extremely fresh selections of branded spring apparel.”