Sales in shopping malls and retail chains begin to recover as vaccine prevention progresses. Trading companies issue powerful monetary reports, and their shares go up.
“Department stores show a strong recovery in sales and impressive growth in operating margins. They do more with less, improve revenue and margin characteristics by reducing inventories. This is what, something we haven't seen in a long time", - said specialist Gordon Haskett Chuck Thunder.
According to Placer.ai, In July, the attendance of outdoor shopping centers increased by 2,1 % compared to 2019. And attendance in closed shopping centers was at 0,1 % below, than before a major epidemic. To compare, in June, traffic in open and closed shopping centers was at 6,3 And 9,3 % below, than in 2019. In January - by 11.5 and 24,1 %.
19 August Macy's stock (NYSE: M) up twenty percent, to 21,6 $, after the publication of the report for the 2nd quarter. The company's revenue increased by fifty-nine percent, up to $5.6 billion, and comparable sales by sixty-one percent. Compared to 2019, comparable sales added six percent. Macy's to resume negotiable share purchases and dividend payments. In October, the shareholders will receive 15 cents per paper. Macy's stock has risen by 244%.
“Q2 numbers overshadowed our expectations. We've regained top customers and attracted more young ones with new brands and products.", - emphasized the head of Macy’s Jeff Gennett.
TJX Trading Company Shares (NYSE: TJX) increased by 6% since, how the company reported for the 2nd quarter. Compared to the same period in 2019, TJX sales increased by 23%, up to 12 billion dollars, although part of the stores in Canada, Australia and Europe is still closed.
Ross Stores discount network (NASDAQ: SENSE) this week also reported an increase in sales by 21%, up to $4.8 billion, regarding 2019.
Even before the pandemic, many retailers faced pressure from online retail, and quarantine restrictions could completely destroy the business of such companies. Now Macy's financial results, TJX, Ross Stores and others show high customer loyalty, the sustainability of consumer habits and the ability of companies to grow.
