2:45PM New York – April same store sales defy gloomy expectations as consumers stretch their wallets and shift spending to discount stores.

Retailers reported better than expected same stores sales gain in April, defying gloomy predictions by most analysts. However, consumers continue to look for discounts as disposable income shrinks on rising food and fuels prices. Discounters such as Costco, Wal-Mart and BJ led the gainers in the industry.

Same store sales at BJ’s rose 8.3% followed by gains at Costco of 6% and at Wal-Mart of 3.2%.

Costco Warehouse (COST: chart) today reported April net sales increase of 11%, net sales of first thirty-one weeks climbed to 12%. Comparable sales for the five-week and thirty-one-week periods ended April 2008 for U.S., international and total company were 5%, 17% and 7% respectively.

The U.S. comparable sales figure includes, among other things, the effect of gasoline price inflation, with the average sales price per gallon of gasoline up 20% for the five-week month of March, as compared to the year-earlier March. Excluding gasoline price inflation, U.S. comparable sales would have been up 3%.

On a local currency basis, international comparable sales were increased 6% in March.

Costco currently operates 536 warehouses, including 392 in the United States and Puerto Rico, 75 in Canada, 19 in the United Kingdom, 6 in Korea, 5 in Taiwan, 8 in Japan and 31 in Mexico. The Company plans to open an additional 14 to 15 new warehouses (including the relocation of four to five warehouses to larger and better-located facilities) prior to the end of its 2008 fiscal year on August 31, 2008.

Costco reported net sales increased to $6.57 billion for the month of March, the five weeks ended April 6, 2008, an increase of 11% from $5.93 billion in the same five-week period last year.

Wal-Mart Stores, Inc. (WMT: chart) reported net sales for the four- and 13-week periods ending May 2, 2008, and May 4, 2007, respectively. Total Sales for May 2008 was up 9.8%. Net Sales for Wal-Mart Stores increased 6.5%, Sam’s Club was 10.4% and International has 18.4%. The shift in the timing of Easter positively impacted the April sales period by approximately 200 to 250 basis points, offsetting the opposite impact reported in March.

Comparable same store sales without fuel increased 2.6% at Wal-Mart Stores and gained 6.6% at Sam’s Club. Across all stores, Wal-Mart same store sales in April rose 3.2%. Comparable store sales in the Wal-Mart Stores U.S. segment during the four-week April were strong in grocery, health and wellness and entertainment. Earlier this week, Wal-Mart announced an expansion of its discount prescription medication program. The home furniture related sales were soft. Sam’s Club had sales strengths in dry grocery and consumables during April.

“We estimate U.S. comparable store sales, excluding fuel, for the May four-week period to be between flat and two percent,” said Tom Schoewe, executive vice president and chief financial officer.

BJ’s Wholesale Club (BJ: chart) reported April 2008 sales increased by 20.4% to $744.5 million from $618.5 million in April 2007. On a comparable club basis, sales increased by 17.8% for the month of April 2008, including a contribution of 5.5% from sales of gasoline. Due to the timing of Easter, the April sales period included 28 days of sales this year versus 27 days last year. The calendar shift had a positive impact on comparable club sales of approximately 4%. Adjusted for calendar and excluding fuel sales, same store sales rose 8.3%.

Target Corporation (TGT: chart) reported net retail sales for the four weeks ended May 3, 2008 increased 9% to $4.2 billion from $3.9 billion for the four weeks ended May 5, 2007. April comparable store sales increased 3.1%. Sales in March and April months combined were up 4.6% from a year ago to $9.9 billion and same store sales in the two months fell 1.3%. Sales for the year-to-date at the end of April were up 5% to $14.3 billion, down 0.7% from a year ago.

Kohl’s Corporation (KSS: chart) reported today sales for the four-week period ended May 3, 2008 increased 12% over the four-week period ended May 5, 2007. On a comparable store basis, sales increased 3.5%.

For the combined March/April period, total sales increased 0.4% and comparable store sales decreased 7.7%. For the quarter ended May 3, 2008, total sales increased 1.5% and comparable store sales decreased 6.7%. The Company now expects earnings to exceed its previous guidance of $0.40 to $0.42 per diluted share.

Chico’s FAS, Inc. (CHS: chart) today reported April sales results for the four-week period ended May 3, 2008, decreased 4.5% to $142.0 million from $148.7 million reported for the four-week period ended May 5, 2007.

Comparable store sales decreased 15.5% for the four-week period ended May 3, 2008 compared to the same period of 2007. The company believes the effect of the shift in the Easter holiday benefited comparable store sales for the month of April by approximately 2.0% to 2.5%.

Abercrombie & Fitch Co. (ANF: chart) reported net sales of $241.0 million for the four-week period ended May 3, 2008, an increase 18% increase over net sales of $204.6 million for the four-week period ended May 5, 2007.

April comparable store sales increased 6%. Total company direct-to-consumer net sales increased 47% to $20.0 million for the four-week period ended May 3, 2008, compared to same period ended May 5, 2007.

Year-to-date, the company reported a net sales increase of 8% to $800.1 million from $742.4 million last year. Comparable store sales decreased 3% for the year-to-date period. Year-to-date, total company direct-to-consumer net sales increased 44% to $62.5 million.