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Retail Numbers--A Closer Look
Due to the Yom Kippur holiday tomorrow, a number of retailers are reporting September same store sales a day early.
In general, discounters (ex-Target) outperformed, so Wal-Mart[WMT
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], Costco[COST
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], BJs[BJ
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], and Fred's [FRED
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]all did fairly well.
The high end stores like Nordstrom[JWN
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] and Saks[SKS
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] posted same store sales well below expectations (down 9.6 and 10.9 percent, respectively).
A number of stores guided below expectations: Nordstrom, Kohls[KSS
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], JC Penney[JCP
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], and Target[TGT
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].
The stocks are trading down, but only slightly. That's because the Street has widely assumed that analysts have been behind the curve cutting retail estimates; the Street has been cutting stock prices in anticipation of this.
Teen and specialty retailers will report tomorrow.
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- Hostage to Headlines
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
- Facebook and Morgan Stanley's 99 Problems
- Lousy Economic Numbers, but Stocks Hold Up
- Eurobond Talk: Good News and Bad News
- Hopes Fading for Big Announcement From EU Leaders
- European 'Crisis Tennis' Again
- Facebook IPO 'Conspiracy' Theories Abound
- OK, Facebook Is Embarrassing
Data is a real-time snapshot *Data is delayed at least 15 minutes
