Sector Snap: Discount Retailers Rise

Many retailers reported weak same-store sales amid a difficult consumer environment, cold weather and an earlier Easter. But discounters benefited as consumers went bargain hunting for food and other essentials.

Wal-Mart Stores Inc. said same-store sales edged up 0.7 percent, just short of the 1 percent rise analysts polled by Thomson Financial expected. However the company raised its first-quarter guidance based on strong results in April.

Shares rose 99 cents to $55.13 during morning trading.

Costco Wholesale Corp. same-store sales rose 7 percent, above the 5.9 percent analysts expected.

Shares rose 33 cents to $66.36.

Target Corp. reported same-store sales fell 4.4 percent, more than the 2.7 percent drop analysts expected. But the company said it expects April same-store sales to rise in the mid-single-digit range, helped by an extra day of sales from an Easter shift.

Shares rose 99 cents to $53.33 during morning trading.

BJ's Wholesale Club Inc. said same-stores sales rose 6 percent, helped by gas sales, as analysts expected a 3.1 percent rise. Shares rose $1.33 to $36.66.

Elsewhere in the sector, Sears Holding Corp. shares rose $1.22 to $104.70 and Pricesmart Inc. shares rose 76 cents to $27.77.