Nomura Securities on American Retailing / Specialty Stores: July Sales Preview
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Price: $24.55 --0%
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Nomura Securities on American Retailing / Specialty Stores: July Sales Preview
Analyst, Paul Lejuez, said, "Based on our checks, we believe that July trends may have only been marginally better than June. ICSC data reflect stronger trends, with the avg 2-year trend at 7.0% in July compared with 5.4% on average in June. Despite a few bursts of extreme weather, conditions overall were similar to LY on average across the country. Retailers began to update their floorsets with wear-now Fall/BTS newness as they progressively deepened discounts and churned through remaining summer clearance merchandise over the month. We expect EPS upside at Gap (NYSE: GPS), Limited (NYSE: LTD), Nordstrom (NYSE: JWN), TJX Cos (NYSE: TJX) and, Ross Stores (Nasdaq: ROST). JWN and American Eagle (NYSE: AEO) continue to be our top picks. At JWN, even with a potential negative July comp looming, August should bounce back strong, in our view At AEO, we believe that CEO Robert Hanson is bringing to AEO a new ROIC discipline."
Analyst, Paul Lejuez, said, "Based on our checks, we believe that July trends may have only been marginally better than June. ICSC data reflect stronger trends, with the avg 2-year trend at 7.0% in July compared with 5.4% on average in June. Despite a few bursts of extreme weather, conditions overall were similar to LY on average across the country. Retailers began to update their floorsets with wear-now Fall/BTS newness as they progressively deepened discounts and churned through remaining summer clearance merchandise over the month. We expect EPS upside at Gap (NYSE: GPS), Limited (NYSE: LTD), Nordstrom (NYSE: JWN), TJX Cos (NYSE: TJX) and, Ross Stores (Nasdaq: ROST). JWN and American Eagle (NYSE: AEO) continue to be our top picks. At JWN, even with a potential negative July comp looming, August should bounce back strong, in our view At AEO, we believe that CEO Robert Hanson is bringing to AEO a new ROIC discipline."
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