Specialty Retail June Sales Warm Up, Says Topeka (GPS) (ZUMZ) (AEO) (ARO) (PSUN) (GES)
- Wall St. loses ground on growth fears, oil slide
- Exclusive: Pfizer approaches Medivation about potential takeover - sources
- Unusual 11 Mid-Day Movers 5/3: (ECTE) (RYAM) (AXTI) Higher; (CUR) (ONDK) (WAC) Lower
- Zillow Group, Inc. (ZG) Misses Q1 EPS by 4c, Sales Beat; Issues Sales Guidance Above the Street
- After-Hours Stock Movers 05/03: (GKOS) (ETSY) (NTRI) (MDVN) Higher; (CRAY) (SYRG) (GLUU) (RLYP) Lower (more...)
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
- Jefferies Downgrades Edgewell Personal Care (EPC) to Hold
- Simmons Raises Price Target as Diamond Offshore Drilling (DO) Exceeds 1Q Expectations
- Jefferies Remains Sidelined as Timing Impacts Edison International's (NYSE: EIX) EPS
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!