NEW YORK (CNNMoney) -- Consumers say they're as pessimistic about the economy as they were in the middle of the Great Recession, but that didn't stop them from opening their wallets last month.
Same-store sales at retail chains rose at an annual rate of 4.4% in August, the height of the back-to-school shopping season, even as Hurricane Irene had a mixed impact on retailers.
Macy's (M, Fortune 500) reported a 5% increase in August same-store sales (that is, sales at stores open for at least a year) despite having more than 100 locations closed during the month's last weekend due to the hurricane.
Target (TGT, Fortune 500) enjoyed a bump in sales as shoppers prepared for the stormy weather. The retailer reported same-store sales growth of 4.1% for August, which was higher than expectations.
Costco (COST, Fortune 500) also sidestepped Hurricane Irene, with sales surging 11% during the month.
But not all retailers are created equal. JC Penney's (JCP, Fortune 500) same-store sales continued to deteriorate, falling 1.9% in August. The situation was not better for Gap (GPS, Fortune 500), where sales plunged 6% in August. Both stocks are trading near their lows for the year.
These are among the most popular themes on StockTwits Thursday:
MaysReport: Gap August same store sales drop 6%. Expectations were for a 3.9% decline. $GPS
ldrogen: But in retail land, you don't hear about $GPS or $WMT a lot anymore, the focus shifts quickly to new brands like $LULU and $WFM.
Ktr8der: Retail winners $M $TGT $LTD $JWN, Losers $JCP $GPS to name a few.
BrianSozzi: Would expect upward revisions on $COST eps estimates in coming days.
fundmyfund: One of the best CEO's in the business and one of the least greedy Jim Sinegal retiring. $COST ![]()
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| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.04 | 0.04 | 1.90% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Citigroup Inc | 32.36 | -1.00 | -3.00% |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.91% | 3.81% | |
| 15 yr fixed | 3.17% | 3.13% | |
| 5/1 ARM | 2.87% | 2.83% | |
| 30 yr refi | 3.98% | 3.89% | |
| 15 yr refi | 3.27% | 3.23% |
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