Numbers, number and more numbers. (Don’t you just love them?)
Results from retailers paint different colors. Though generally, retails sales have dropped, some have shown resilience, some better results beating analysts’ estimates. Some of the stores mentioned in a report from WSJ include:
Higher-end Abercrombie and Fitch reporting a 32% drop in same-store sales, lower than 27% expectations. ANF has been on a decline since April last year. On the other hand, rival Aeropostale proved more resilient with a 12% rise in it sales.
Target is another dropper with sales 6.2% lower last month but stocks trade much higher than the broader market after CEO Gregg Steinhafel stated it expects the company to meet or beat analysts’ expectations. Rival Wal-Mart again did not have the numbers.
Department stores are also lower, with JC Penney’s numbers lower by 82.% from previous month while Macy’s had worse at 8.9%. High-end Saks Fifth reported half the numbers with a 4.4% drop, surpassing estimates of 12%.
Victoria’s Secret maker Limited Brands was way off estimates of 7.9% with its own 12% drop.
More results HERE.