The main trend among retail reports is that most are in-line or beating on bottom line. That said, revenues are light, and 2014 guidance is mostly below expectations.
1) Abercrombie trading up on strong bottom-line beat, but fourth quarter same-store sales down 8 percent. The company's 2014 guidance of $2.15-$2.35 is on the low side of the $2.32 consensus, and the year's same-store sales are down high-single digits.
2) TJX reported earnings of 81 cents, a penny lower than expectations. Revenues are roughly in line with expectations, but as with most retailers guidance is light: $3.05-$3.19 for the year ending in January 2015, vs. a consensus of $3.24.
They are authorizing a new $2 billion stock repurchase program, in addition to the the $970 million remaining on the old repurchase program. That is 5 percent of the company's outstanding shares. The dividend will be increased 21 percent to 17.5 cents per share, a yield of about 1.2 percent.
3) Lowe's 2014 guidance of $2.60 is a tad below the consensus of $2.64. Revenue estimates for 2014 of $56.08 billion are also lower than there $56.25 billion consensus. Meanwhile, 2014 same-store sales are estimated up 4 percent.
(Read more: Lowe's posts strong sales growth)
4) Target beat both the top and bottom line, but 2014 earnings estimates of $3.85-$4.15 are at the low end of the $4.15 consensus.
(Read more: Target warns breach costs could hurt future profit)
5) Dollar Tree was light on top and bottom line; 2014 earnings guidance of $2.91-$3.13 is below consensus of $3.25
So far, the negative to positive ratio for retail guidance in 2014 is 7 to 1; that is well above the norm of 2.5 to 1, according to RetailMetrics.
--By CNBC's Bob Pisani.