Some of the names on the move ahead of the open.» Read More
Despite evidence that shoppers are cutting back this holiday season, retailers are expected to report strong improvement in November sales after a weak fall.
September same-store sales growth falls to its slowest pace in three years, forcing a number of retailers to cut their third-quarter earnings forecast.
Total back-to-school spending is expected to rise 6.9% this year from 2006, though consumer spending on apparel is not expected to rise significantly, as consumers splurged on apparel last year.
It's spring cleaning in the summertime for retailers right now and profit taking time for investors in retail stocks (it would seem.) From what I'm hearing, the disappointing sales we saw today from Children's Place may be setting the tone when it comes to retail sales results. Same store sales declined 4% in June coming in below expectations. CEO Ezrah Dabah cited continued declines in mall traffic--NOT the weather, NOT high gas prices, NOT inventory management issues--for causing sales to fall off at the start of the summer.
Retailers reported mixed sales for December, as unusually warm weather hurt sales of winter apparel but stores with high-end or big-ticket items lured shoppers at the end of the month.
Retailers reported mixed November same-store sales, with nearly half falling short of forecasts.