UBS on Retail: Strong Start to Q3 - Eyeing September (GPS, ROST, TJX, LTD, ANN)

UBS on Retail: Strong Start to Q3 - Eyeing September

Analyst, Roxanne Meyer, said, "Our retailers all met or beat heightened August expectations, illustrating the consumer’s appetite for fashion newness and willingness to spend where product resonates. August mall traffic was down 1% (similar to June and July), and has been trending flat to negative for the last 8 months. We continue to remain selective and focus on stocks with the strongest product execution and ability to beat on comps and margins. Our top picks remain: TJX Cos (NYSE: TJX), Ross Stores (Nasdaq: ROST), Limited (NYSE: LTD), Ann Inc (NYSE: ANN)."

Raising estimates: GPS, ROST, TJX, Raising Price Targets: GPS (from $35 to $37), TJX (from $50 to $53)

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