Specialty Retail June Sales Warm Up, Says Topeka (GPS) (ZUMZ) (AEO) (ARO) (PSUN) (GES)
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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.
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