US Consumer Looks Strong For Now – Bed, Bath and Beyond, Circuit City and Nike All Report Strong Quarters

September 23, 2006 at 11:30 am  ·  Category: Macro Economics, Market Commentary

The US consumer is holding up nicely thus far as Bed, Bath and Beyond (NASDAQ: BBBY), Circuit City (NYSE: CC) and Nike (NYSE: NKE) all reported strong quarters this past week.

Bed, Bath and Beyond, owner of 762 Bed, Bath and Beyond stores, reported hefty same stores sales growth of 4.8% after the bell on Wednesday.  Their shares rallied nicely on Thursday, up $1.27 to $38.41 with almost 9 million of the company’s 280 million outstanding shares trading hands. 

Circuty City, owner of 632 Circuity City superstores in the United States, also reported an excellent quarter with an 8.9% increase in domestic same store sales

Nike reported a good quarter as well, with US Region sales increasing 6% from the year ago quarter.  Nike reported after the bell on Thursday and the shares popped $3.90 on Friday to $86.90 with 7.7 million of the company’s 253 million shares outstanding trading hands. 

So here’s what it looks like for some of the nation’s biggest retailers (and Nike) recently:

Company                                   US Stores   US Same Stores Sales % Increase

Best Buy (NYSE: BBY)                    940+                            3.0%

Circuity City (NASDAQ: CC)             632                              8.9%

Bed, Bath and Beyond (NYSE: BBBY)  732                           4.8%

Nike (NYSE: NKE)                            N/A                             6%*

* Nike, of course, is not a retailer but a manufacturer and so this number refers not to same store sales but to US Sales. 

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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