L Brands, Costco Among Retailers to Report Better-Than-Expected Holiday Sales

It was a happy holiday season for retailers amid low gas prices and a brighter jobs picture, with many reporting strong sales for the month of December. L Brands, which operates stores like Victoria's Secret and Bath & Body Works, reported same-store sales that rose 4% year-over-year, topping analyst expectations of an increase of 3.6%, according to Thomson Reuters. Struggling teen apparel retailers reported sales growth as well. Urban Outfitters said it posted record sales for the holiday shopping season, while American Eagle Outfitters and Aeropostale boosted their bottom-line guidance for the current quarter. When factoring in lower gas prices, Costco posted a 3% increase in same-store sales, narrowly beating analyst estimates of a 2.8% rise, according to Reuters.

undefined