5:45 PM New York – Retailers reported a mixed October sales as consumers hold tight on their wallet. Discounters and wholesale clubs continue to gain wallet share of consumers. Luxury retailers’ sales fell sharply in the month.

Retailers were hoping that improving sales trend that lasted in August and September will continue in October. Same store sales were mixed in the month as consumers restrained and unemployment worries clouded the retail sentiment.

Wholesale club retailers like Costco and BJ’s reported rising sales as more consumers look for bargains. Discount retailer Target lifted its earnings outlook for the quarter.

Apparel retailers still struggled. Gap, Cato Corp, TJX and Buckle were the few notable exceptions in the segment where most retailers still struggled to attract customers.

Luxury retailers reported another month of falling sales with Saks, Nordstrom and Dillard’s reporting weaker than expected sales.

International Council of Shopping Centers estimated same store sales to rise between 5% and 8% in November but retail sector analysts are not that hopeful.

BJ’s and Costco Sustain Same Store Sales Rise

BJ''s Wholesale Club, Inc (BJ) same store sales in October decreased 1.1%, including negative impact from sales of gasoline worth 4.8%. Excluding gasoline sales, merchandise club comparable sales rose 3.7%.

Total sales in the month increased 3.5% from a year ago to $764.7 million.

Excluding sales of gasoline, traffic increased approximately 4% and the average transaction amount was flat from last year. Sales of food increased 4% on strong sale of perishables. Sales of general merchandise rose approximately 3% compare to last year.

Costco Wholesale Corp (COST) reported October net sales increased 7% to $5.68 billion.

Comparable sales in the month in the U.S. locations rose 2% and at international locations increased 17% and across the company rose 5%.

Excluding the gasoline and currency variations, comparable sales increased 3% in the month in the U.S. and rose 7% at international locations and increased 4% across the company.

For the third quarter ended October net sales rose by 2.0% to $2.45 billion. Comparable club sales fell 2.5% including a negative impact from sales of gasoline of 6.4%.

Target Corporation (TGT) net retail sales in October increased 2.8% to $4.54 billion from a prior year month. The comparable sales in September fell 0.1%.

The company now expects third quarter earnings per share performance to exceed the current median FirstCall estimates of 43 cents a share.

Wal-Mart Stores no longer declares monthly same store sales but provides quarterly same store sales data.

Department Store Sales Decline at a Slower Pace

Macy''s, Inc (M) October same store sales fell 0.8%. Total sales declined 1.3% to $1.69 billion from $1.71 billion a year ago month.

For the third quarter of 2009 same store sales fell 3.6%. Total sales decreased 3.9% to $5.28 billion compared to $5.49 billion in the same quarter of last year.