Shoppers spent a little in October

Cool weather drove consumers to stores in October, helping many retailers post better-than-expected same-store sales.

"The consumer does appear to be coming out of hibernation to some extent," JPMorgan Chase analyst Charles Grom told CNBC this morning.

Discount retailers fared well as shoppers continued to focus on necessities. Costco Wholesale (COST) posted a 5% gain in sales at stores open at least one year, better than the expected 4.7% increase, and BJ's Wholesale (BJ) saw sales rise 3.5%, much better than analysts' expectations of a 0.3% decline. Target's (TGT) sales dipped 0.1%, which was slightly worse than the forecast of a break-even October.

Department stores posted a mixed bag. Dillard's (DDS) same-store sales fell 8%, in line with expectations, while high-end retailer Saks (SKS) saw its sales at stores open at least one year increase 0.7%, topping Wall Street's expectation of a 3.6% drop. Nordstrom (JWN) posted a 6.5% rise in sales, better than the estimated 3%.

Teen retailers were hit, however, with Abercrombie & Fitch (ANF) posting a 15% drop in October same-store sales, worse than analysts' forecasts of a 14.7% decline. American Eagle Outfitters (AEO) saw its sales slump 5%, missing the estimate of a 1.7% gain.

Gap's (GPS) sales were up 4%, topping the 1.6% expected gain, while Limited's (LTD) sales were down 4%, worse than the expected 2.7% decline.

A warm December could help retailers through the holiday shopping season, and Grom believes holiday sales will be somewhat improved. "Generally, the direction will be more favorable than what people are participating right now," Grom told CNBC.