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"It's kind of like Ryan Gosling's SAT scores; these numbers don't mean anything," said Judith Russell, an analyst with The Robin Report, a retail industry strategy newsletter. A clearer picture of retail sales will emerge when the government reports retail sales figures on Friday. The cold weather dampened sales, she said, but overall she remains positive about fashion trends, with bright colors and prints becoming popular as cotton prices ease. Retailers who do report had a mixed month, with those with more stores on the East Coast, where the weather was cold and wet, faring worse than those with stores concentrated on the West Coast. TJX Cos., which operates TJX and Home Goods stores, said revenue in stores open at least a year fell 2 percent, while analysts expected a 1 percent drop. The company said that the drop was due to the weather and the Easter shift, and they expect a stronger April. "Overall business trends improved as the weather became warmer," CEO Carol Meyrowitz said. "April is off to a good start, our inventories are in great shape, and we are seeing an enormous amount of desirable product in the marketplace." L Brands, formerly Limited Brands Inc., the parent of Victoria's Secret and Bath and Body Works, said the revenue figure was flat, above analyst expectations for a drop, according to Thomson Reuters. Warehouse club operator Costco Wholesale Corp.'s revenue figure rose 4 percent in March, short of expectations for a 5.2 percent rise. Department store operator Stein Mart Inc. said revenue at stores open at least a year dropped 2.8 percent in March, falling short of Wall Street predictions. The company said sales were hurt by cold weather and the earlier Easter. "This year, more than ever, it will be important to combine March and April sales results to get a true picture of our spring selling season due to this year's Easter calendar shift," said CEO Jay Stein.
Gap Inc. said the measure fell 1 percent, a smaller drop than the 2.1 percent analysts expected. The company said the earlier Easter hurt results, particularly at Old Navy. The measure was flat at Gap stores, up 1 percent at Banana Republic and down 2 percent at Old Navy. In terms of teen retailers, the Buckle Inc. said the revenue figure was flat, while analyst expected a 0.3 percent decline.
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