Same-Store Sales Surprise: Don't Buy the Hype

NEW YORK (TheStreet) -- Excitement is mounting in the market this morning on the perceived surprises in retail same-store sales.

In morning trading, shares of Abercombie & Fitch(ANF Quote) are jumping 6.9% to $34.94 on better-than-expected results, as are shares of Macy's(M Quote), which is increasing 3.4% to $19.23.

But many of these surprises might not, in fact, be all that surprising.

Children's Place(PLCE Quote) stunned investors when it reported a 4% spike in its September same-store sales, surpassing the 1.3% decline analysts expected.

However, most of this momentum was garnered by online sales, which surged by 54%. Children's Place includes online sales in its monthly results, while most other retailers, except Macy's(M Quote), exclude the figure.

September Same-Store-Sales

Macy's saw a slight 2.4% decline, better than the 4.6% drop Wall Street forecast. But it, too, saw the boost come predominantly from online sales, which soared 14.8% during the month.

The department store said its private-label and exclusive merchandise is strong, as well as moderate apparel, kids, textile, house wares, mattresses and furniture. But handbags and fragrances continue to be weak.

There is, of course, nothing wrong with Children's Place and Macy's seeing sales shift from stores to online, but it's patently unfair to say they're doing better than their competitors, as those rivals are not getting the extra lift from the Internet.

Abercombie & Fitch, as well, is standing out for all the wrong reasons: The teen retailer reported an 18% plunge in same-store sales, but these results topped analysts' expectations of a 21% tumble, which is leading investors to believe a recovery is nearing.