Specialty Retail June Sales Warm Up, Says Topeka (GPS) (ZUMZ) (AEO) (ARO) (PSUN) (GES)
- Market Wrap: Fed Firms on Rate Hike; Empire Resorts Gets Big Gaming Win; On Deck Capital Rips on Debut
- Fed Drops 'Considerable Time', Says Can be 'Patient' on Rates
- After-Hours Stock Movers 12/17: (ZAGG) (TTPH) (ORCL) Higher; (MLHR) (KEX) Lower (more...)
- Oracle (ORCL) Reports In-Line Q2 EPS
- Wall Street Looks to Profit from New and Improved Cuba Relations (CUBA) (RCL) (CCL)
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
- Goldman Sachs Downgrades Verizon Communications (VZ) to Neutral
- UPDATE: Global Hunter Securities Starts Earthstone Energy (ESTE) at Accumulate
- FactSet Research (FDS) PT, Estimates Bumped Higher at Piper Jaffray Following Solid Q1
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!