Gap Inc
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Stocks closed lower for a third session, as markets remain worried the Federal Reserve may start withdrawing stimulus by curtailing bond purchases later this year.
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Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires
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Following are the day’s biggest winners and losers. Find out why shares of UPS (UPS) and U.S. Steel (X) popped while The Gap (GPS) and Ruby Tuesdays (RT) dropped.
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Big box retailers like Wal-Mart and Costco saw sales that exceeded expectations, but most niche retailers saw their sales drop or saw sales grow less than expected.
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Disappointing. Challenging. Uncertain. Short of expectations. Those are the words most heard from companies in this morning's December same store sales report. Large companies like Macy's, Gap, Abercrombie, and Ann Taylor reported sales below expectations.
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Gap said its sales at stores open at least a year fell 6 percent in December but said merchandise margins were "significantly above" the prior year.
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He's back 'for the long term.' The man who commercialized the gourmet cafe brand and convinced the world to pay $5+ for a cup of specialty coffee is returning to the CEO seat. Howard Schultz is once again the CEO at Starbucks and says that he plans to recaffeinate sales and perk up the coffee giants' sagging stock price.
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Why not check out our Happy 52-Week High riddles from 2007! How well you know your stocks?
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U.S. retailers saw sales rise 3.6 percent in holiday shopping, at the lower-end of expectations. Sales were helped by a late-season spending surge on some items, according to data released Tuesday.
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There could be some stocks amidst the rubble that are worth owning if only for the tailwinds from a “Santa Claus rally.” Find out which retailers Jeff Macke recommends.
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Are bonds about to lose their flight-to-quality premium? The Fed, the executive branch, the legislative branch, and now even the Bank of England (which cut its key rate a quarter point to 5.5 percent) are working to resolve credit problems. The 10-year is looking toppy here.
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November may have been sweeter to stores than many thought. Don't get me wrong--stores aren't going to be AHEAD of plan but it is sounding increasingly like they may NOT miss those meager plans they set for themselves at the beginning of the month. Meeting expectations COULD be a real positive for retail stocks tomorrow.
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Discounters, department stores and chains that sell electronics and teen fashions lured big crowds over the weekend as the holiday shopping season got off to a strong start.
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Gap posted a 26 percent rise in quarterly earnings Wednesday but a raised forecast failed to match some Wall Street targets, disappointing investors.
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Across the nation, women over age 35 are increasingly rebelling against the suits and head-to-toe dressing of traditional department store labels like Liz Claiborne, Jones New York and the old-guard mall stores like Talbots and AnnTaylor. That's put sales of traditional women's fashions in a rut that has deepened over the past year.
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Believe it or not, retail gave a boost to the stock market on Tuesday. Wait until you hear which big box offered the Street a solid quarterly profit and an upbeat forecast.
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Som midday observations: 1) Despite being grilled on the weak dollar, higher inflation, and the subprime crises and what he is doing about it, Bernanke has said little new. He says that economic activity has remained "resilient" but that "financial market volatility and strains have persisted." He seems to want to keep all his options open for December.
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Well, the retailers came in generally in line with the gloomy expectations: plenty of markdowns on warm weather. Two-thirds were below expectations, according to RetailMetrics. Department stores missed expectations across the board.
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Rising oil prices have not stopped consumers from going to the mall. Retailer Guess is enjoying a 15% surge in their stock price. The clothing company reported better than expected revenue.
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September comparable retail sales were generally lower than expected, even after numbers were lowered in the last week. Apparel companies like Limited, Chico's, Abercrombie, Gap and Limited missed, but so did Target, as did the department stores like Saks and Nordstrom.
