Nomura Securities on Retailing/Specialty Stores: 3Q Preview
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Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
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Nomura Securities on Retailing/Specialty Stores: 3Q preview by Paul Lejuez
Lejuez said, "Tomorrow (11/9) kicks off Dept Store/Softlines 3Q earnings season with M, KSS, and JWN reporting this week, followed by JCP, URBN, TJX, ANF, LTD, ROST, GPS, WTSLA and ANN the week of 11/14. Then CHS reports the week of 11/21, and TIF, AEO, PSUN, RUE and ARO report the week after Thanksgiving. Given the challenging cost environment combined with the uncertain economic environment, we still believe it makes sense to stick with the winners. Our top picks are LTD and M, both of which have significant momentum."
Earnings highlights include: Limited (NYSE: LTD): 3Q11E of $0.25 vs cons of $0.24; Macy's (NYSE: M): 3Q11E of $0.18 vs cons of $0.15; Gap (NYSE: GPS: 3Q11E of $0.37 vs cons of $0.35; Urban Outfitters (Nasdaq: URBN): 3Q11E of $0.31 vs cons of $0.35; Abercrombie & Fitch (NYSE: ANF): 3Q11E of $0.74 vs cons of $0.72; and JC Penney (NYSE: JCP): 3Q11E of ($0.10) vs cons of ($0.07)
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Lejuez said, "Tomorrow (11/9) kicks off Dept Store/Softlines 3Q earnings season with M, KSS, and JWN reporting this week, followed by JCP, URBN, TJX, ANF, LTD, ROST, GPS, WTSLA and ANN the week of 11/14. Then CHS reports the week of 11/21, and TIF, AEO, PSUN, RUE and ARO report the week after Thanksgiving. Given the challenging cost environment combined with the uncertain economic environment, we still believe it makes sense to stick with the winners. Our top picks are LTD and M, both of which have significant momentum."
Earnings highlights include: Limited (NYSE: LTD): 3Q11E of $0.25 vs cons of $0.24; Macy's (NYSE: M): 3Q11E of $0.18 vs cons of $0.15; Gap (NYSE: GPS: 3Q11E of $0.37 vs cons of $0.35; Urban Outfitters (Nasdaq: URBN): 3Q11E of $0.31 vs cons of $0.35; Abercrombie & Fitch (NYSE: ANF): 3Q11E of $0.74 vs cons of $0.72; and JC Penney (NYSE: JCP): 3Q11E of ($0.10) vs cons of ($0.07)
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