Needham & Company on Retail Apparel: Feast or Famine Driven by Record Black Friday: High-End Positively Surprises
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Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company on Retail Apparel: November SSS Review: GPS, ZUMZ; Feast or Famine Driven by Record Black Friday: High-End Positively Surprises
Analyst, Christine Chen, said, "A record Black Friday resulted in more positive than negative surprises (+57% vs. -33%), according to RetailMetrics, as shoppers snapped up bargains, driven mostly by self-gifting. Despite not having deep Black Friday promotions, the high-end positively surprised. Similarly retailers with unique fashion also saw strong results in November. The lower income consumer continues to struggle, as evidence by disappointments in from value-oriented retailers. An extra day (a Saturday) between Thanksgiving and Christmas, a later Hanukkah, a Sunday Christmas and Monday Boxing Day (the 26th), should positively impact December SSS, but result in sales being back-end loaded as the consumer procrastinates and waits for deals."
Needham maintains a Hold on Gap (NYSE: GPS) and Buy rating on Zumiez (Nasdaq: ZUMZ)
Analyst, Christine Chen, said, "A record Black Friday resulted in more positive than negative surprises (+57% vs. -33%), according to RetailMetrics, as shoppers snapped up bargains, driven mostly by self-gifting. Despite not having deep Black Friday promotions, the high-end positively surprised. Similarly retailers with unique fashion also saw strong results in November. The lower income consumer continues to struggle, as evidence by disappointments in from value-oriented retailers. An extra day (a Saturday) between Thanksgiving and Christmas, a later Hanukkah, a Sunday Christmas and Monday Boxing Day (the 26th), should positively impact December SSS, but result in sales being back-end loaded as the consumer procrastinates and waits for deals."
Needham maintains a Hold on Gap (NYSE: GPS) and Buy rating on Zumiez (Nasdaq: ZUMZ)
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