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