Retailers Report Positive March Sales

Target Corp. and Macy's also posted solid results and raised their forecasts.

Target reported revenue in stores open at last one year rose 7.3 percent, better than the 5.4 percent analysts expected. The company raised its fiscal first quarter guidance based on the strong results.

Macy's reported the revenue figure rose 7.3 percent, beating expectations of a 4.8 percent rise. The company raised its forecast for revenue in stores open at least one year during the combined March and April period, to a 4.3 to 4.5 percent rise, from prior guidance of 3 to 3.5 percent rise.

But not everyone beat expectations. Costco Wholesale Corp.'s revenue at stores open at least a year climbed 6 percent in March, falling short of the 6.7 percent increase analysts expected. Stripping out higher gas prices and the negative impact of foreign currencies, revenue at stores in the U.S. increased 5 percent and climbed 9 percent internationally.

And the teen sector was a weak spot, with both The Buckle and Wet Seal missing analyst expectations.

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