GO
Loading...

Enter multiple symbols separated by commas

Retailers: Warm Weather Yields Cold Sales

Warm weather left apparel retailers with a lot of unsold suits and sweaters in September. Limited, Chico's, Abercrombie, Gap and Limited missed. Men's Wearhouse cut its forecast for third quarter profits, citing "continued softening in traffic trends." American Eagle saw a decrease of 5% in September comparable store sales, citing lower traffic and unseasonably warm weather.

Symbol
Price
 
Change
%Change
WEMMX
---
XXICM
---
8H83
---
GPS
---
LB
---
MW
---

But the biggest surprise was Nordstrom . They saw an increase in sales, but less than expected. The company lowered its guidance for the quarter; down 6% pre-open.

Wal-Mart saw an increase of 1.4% in sales, below the 1.9% expected, but they raised their guidance, reminding everyone that it is still the BOTTOM LINE, not the TOP LINE, that truly matters. Up 4% pre-open.

Meanwhile Virgin Mobile will make the usual big splash at the NYSE, with Sir Richard Branson ringing the bell and and a big display in front of the NYSE. They're giving out T-shirts and emergency phone chargers. Doesn't conceal the fact that it priced at the lower end of the expected range: 27.5 m shares at $15, range was $15-$17. Pali Research noted that "We are primarily concerned about the significant impact that changes in key metrics have on this low margin model."

Questions? Comments? tradertalk@cnbc.com

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.