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September Retail Numbers Show Main Street Pain
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A number of retailers released their September same-store sales numbers this morning. The numbers were weak across the board, painting a gloomy picture of the pains on Main Street.
Wal-Mart (NYSE: WMT) was the lone bright spot. Wal-Mart's September store sales were up 2.4% and the company confirmed its previously issued Q3 EPS guidance of $0.73-$0.76, versus the consensus of $0.76.
Here's how the rest stacked up:
- Target Corporation (NYSE: TGT) Same store sales for the month fell 3%. Target also said there is an increased likelihood that Q3 EPS may be slightly below the current First Call median estimate of $0.52.
- Kohl's Corporation (NYSE: KSS) September Comps Down 5.5% . Koh's expects Q3 EPS at the low end of its previously announced guidance of $0.51 to $0.56 per diluted share. The consensus is $0.53.
- J. C. Penney Company, Inc. (NYSE: JCP) September Same store sales fell 12.4%. JCP cut its Q3 EPS outlook from $0.70-$0.75 to $0.50-$0.60, versus the consensus of $0.70.
- Nordstrom, Inc. (NYSE: JWN) September same-store sales decreased 9.6%. JWN cut its Q3 EPS outlook from $0.49-$0.54 to $0.32-$0.37
- Saks Incorporated (NYSE: SKS) Sept comparable store sales decreased 10.9%. Sakes said comparable store sales for the second half of the fiscal year will fall below its previous expectation.
- Dillard's, Inc. (NYSE: DDS) September sales decreased 12%
- Cache Inc. (NASDAQ: CACH) September Same store sales fell 6%
- American Eagle Outfitters, Inc. (NYSE: AEO) September Same store sales fell 6%. American Eagle narrows its Q3 EPS guidance from $0.31-$0.36 to $0.31-$0.34, versus the consensus of $0.34.
- Bon-Ton Stores, Inc. (NASDAQ: BONT) September same store sales fell 4.6%
- Pacific Sunwear of California, Inc. (Nasdaq: PSUN) September same-store sales decreased 5%. Sees Q3 EPS at the low end of its previously announced earnings guidance range of $0.00 to $0.05 per diluted share.
- Wet Seal, Inc. (Nasdaq: WTSLA) September comparable store sales down 7.5%
- Stein Mart, Inc. (Nasdaq: SMRT) September Same store sales for the month fell 14.8%.
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