Nomura Securities September Sales Preview: This Month Better Than What’s To Come
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
28 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities September Sales Preview: This Month Better Than What’s To Come Weakening Consumer And Cost Pressures Looming
Analyst, Paul Lejuez, said, "Big Picture: Not A Bad Month, But Consumer In Tough Spot - Overall, we believe the month was reasonably good, with retailers such as Ross Stores (Nasdaq: ROST), TJ Cos (NYSE: TJX), and Limited (NYSE: LTD) continuing their momentum, and GPS continuing to be the underperformer. Promotional levels were high, especially on items such as sweaters (Gap Brand (NYSE: GPS), American Eagle (NYSE: AEO), Talbots (NYSE: TLB)) as the weather was unseasonably warm during a couple of weeks near the end of the month. The ICSC index indicates that trends on a 2-yr stacked basis were similar to Aug."
"Even a good Sept would not leave us optimistic about Holiday, as
pressures are mounting for the consumer. The typical Oct/Nov lull is likely
to be even more pronounced this year given the macro backdrop, putting
sales and margins at risk. And keep in mind, cost pressures are just about
to kick in."
Analyst, Paul Lejuez, said, "Big Picture: Not A Bad Month, But Consumer In Tough Spot - Overall, we believe the month was reasonably good, with retailers such as Ross Stores (Nasdaq: ROST), TJ Cos (NYSE: TJX), and Limited (NYSE: LTD) continuing their momentum, and GPS continuing to be the underperformer. Promotional levels were high, especially on items such as sweaters (Gap Brand (NYSE: GPS), American Eagle (NYSE: AEO), Talbots (NYSE: TLB)) as the weather was unseasonably warm during a couple of weeks near the end of the month. The ICSC index indicates that trends on a 2-yr stacked basis were similar to Aug."
"Even a good Sept would not leave us optimistic about Holiday, as
pressures are mounting for the consumer. The typical Oct/Nov lull is likely
to be even more pronounced this year given the macro backdrop, putting
sales and margins at risk. And keep in mind, cost pressures are just about
to kick in."
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