Nomura Securities Retail Weekend Reading: How Easy Are Productivity Comparisons in F12?
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Rating Summary:
5 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities Retail Weekend Reading: How easy are productivity comparisons in F12?
Analyst, Paul Lejuez, said, "Our analysis considers F11 productivity compared to previous five-year peak and trough levels. On the surface, low productivity implies easier comparisons for F12, though there are often other issues to consider. Company-by-company specifics are in the note. Highlights: Aeropostale (NYSE: ARO): The absolute level of productivity is still well above most others in the mall, implying it could still come down further. Gap (NYSE: GPS): GPS has easy comparisons at Gap Brand and Old Navy, but both concepts have struggled to regain relevance, giving us less confidence that the company can capitalize on these easy comparisons. Limted (NYSE: LTD): Early evidence that they can “comp the comp” at VSS. Can drive productivity higher at VSS with addition of Pink and VSX to more stores.
Analyst, Paul Lejuez, said, "Our analysis considers F11 productivity compared to previous five-year peak and trough levels. On the surface, low productivity implies easier comparisons for F12, though there are often other issues to consider. Company-by-company specifics are in the note. Highlights: Aeropostale (NYSE: ARO): The absolute level of productivity is still well above most others in the mall, implying it could still come down further. Gap (NYSE: GPS): GPS has easy comparisons at Gap Brand and Old Navy, but both concepts have struggled to regain relevance, giving us less confidence that the company can capitalize on these easy comparisons. Limted (NYSE: LTD): Early evidence that they can “comp the comp” at VSS. Can drive productivity higher at VSS with addition of Pink and VSX to more stores.
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