Retail Rundown: Comps Still Falling Off a Cliff in June, But Numerous Retailers Raise Guidance
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As today was the first Thursday of the month, retail companies released their sales results for the month of June. On the surface, the same store sales figures don't look like they are getting any better: retailers continue to report sharp slides in their year-over-year numbers. At the same time, we have seen numerous retailers boosting quarterly outlooks, certainly giving hope to investors in this sector.
Below are some highlights from just a few of the retail sales reports which were released earlier:
- Target (NYSE: TGT) - comps down 6.2% and said it will meet or exceed the current analyst estimate of $0.64. The stock is up 3.8%.
- Costco (Nasdaq: COST) - same store sales fell 6%. Shares are down 1.2%.
- The TJX Companies (NYSE: TJX) - comps rose 4% and the discount retailer also boosted its Q2 EPS guidance to $0.56-$0.59. Shares are up 3.2%.
- Gap (NYSE: GPS) - comps down 10%. The stock is down 2.2%.
- Kohl's (NYSE: KSS) - same store sales fell 1.5%. The stock is currently down 1.1%.
- JCPenney (NYSE: JCP) - same store sales came in down 8.2%, but the company raised its Q2 loss guidance from $0.15-$0.25 to $0.08-$0.12. Shares are down 3.8%.
- Macy's (NYSE: M) - comps tumbled 8.9% during the month. After gapping 4% higher this morning, the stock is now down 0.4%.
- BJ's Wholesale (NYSE: BJ) - same store sales were down 7.5%. The stock is down 1.3%
- Aeropostale (NYSE: ARO) - comps jumped 12% and the company lifted its Q2 EPS guidance. Shares have fallen 2.6%.
- The Buckle (NYSE: BKE) - saw a 9.6% rise in monthly same store sales. The stock is down 3.8%.
- Abercrombie & Fitch (NYSE: ANF) - comps plummeted 32%. Shares are down 4%.
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