Specialty Retail June Sales Warm Up, Says Topeka (GPS) (ZUMZ) (AEO) (ARO) (PSUN) (GES)
- Market Wrap: Markets Weak on Greece, China; Aetna Moves to Acquire Humana; ISM Service Index Gained in June
- Advanced Micro Devices (AMD) Cuts Q2 Outlook
- After-Hours Stock Movers 07/06: (SUNE) (AAP) (CTCT) Higher; (AMD) (SHLM) (ETRM) Lower (more...)
- Nike (NKE) to Become Wolverines' Official Athletic Footwear, Apparel and Equipment Provider
- UPDATE: ECB Keeps Emergency Liquidity for Greek Banks Unchanged, Adjusts Haircuts on Collateral
Specialty retailing June sales are warming up, said Topeka Capital analyst Dorothy Lakner in a research note. However, she is keeping an eye on West Coast port talks.
"After a relatively strong May, June sales will be reported on July 9-10 and while promotions picked up as we expected they would heading into the July 4th weekend, June is likely to have benefited from the continued warm weather and an improving economy. The strong market has pushed our group's multiple to 15.8X 2015 estimates, the highest it's been since prerecession days, but stock price performance is clearly dividing winners and losers," said Lakner.
"If the stock market continues to rise along with the economy and barring a West Coast lockout, hopes may rise for BTS and the fall selling season, boosting some of the laggards as we head into 2Q reports in August," she added.
Traders are watching Gap, Inc. (NYSE: GPS), Zumiez, Inc. (NASDAQ: ZUMZ), American Eagle Outfitters (NYSE: AEO), Abercrombie & Fitch (NYSE: ANF), Aeropostale, Inc. (NYSE: ARO), Pacific Sunwear Of California (NASDAQ: PSUN), Guess?, Inc. (NYSE: GES), and others.
Shares of Gap, Inc. closed at $41.65 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Downgrades Celanese (CE) to Neutral on Valuation
- UBS Raises price target on CME Group (CME) Following June Metrics Release
- Piper Jaffray Cuts Price Target on Yelp (YELP) Following Unique User Traffic
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!