Barclays on U.S. Department Stores/Broadlines: May Sales Preview
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Price: $154.48 -0.66%
Rating Summary:
20 Buy, 27 Hold, 4 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays on U.S. Department Stores/Broadlines: May Sales Preview
Barclays analyst says, "Target (NYSE: TGT), BJ's Wholesale Club (NYSE: BJ), Costco (NYSE: COST), Kohl's (NYSE: KSS), J.C. Penney (NYSE: JCP), Saks (NYSE: SKS), Nordstrom (NYSE: JWN), Macy's (NYSE: M), and Stage Stores (NYSE: SSI) will report May sales results on Thursday, June 2."
"Ahead of these results, we are slightly adjusting our Barclays Capital
Broadlines/Dept. Stores Same Store-Sales Index estimate for May to 7.2% from 7.3% compared with a 4.4% increase last year. On a two-year basis, we are expecting an 11.6% increase, which is a sequential deceleration from April, but the fourth consecutive month of double digit two-year increases."
"We are raising our Macy's comp estimate to 4%-6% from 3%-5%, and lowering our J.C. Penney estimate to 2%-4% from 4%-6%. We believe trends at Macy's were in line with plan, but above the 4% comp expected for Q2 overall, as May 2010 is the easiest compare in the May-June-July period. Macy's continues to show strong momentum relative to the other department stores, but still below the high end...We remain comfortable with our Kohl's estimate of 2%-4%, which is in line with quarterly comp guidance."
Barclays analyst says, "Target (NYSE: TGT), BJ's Wholesale Club (NYSE: BJ), Costco (NYSE: COST), Kohl's (NYSE: KSS), J.C. Penney (NYSE: JCP), Saks (NYSE: SKS), Nordstrom (NYSE: JWN), Macy's (NYSE: M), and Stage Stores (NYSE: SSI) will report May sales results on Thursday, June 2."
"Ahead of these results, we are slightly adjusting our Barclays Capital
Broadlines/Dept. Stores Same Store-Sales Index estimate for May to 7.2% from 7.3% compared with a 4.4% increase last year. On a two-year basis, we are expecting an 11.6% increase, which is a sequential deceleration from April, but the fourth consecutive month of double digit two-year increases."
"We are raising our Macy's comp estimate to 4%-6% from 3%-5%, and lowering our J.C. Penney estimate to 2%-4% from 4%-6%. We believe trends at Macy's were in line with plan, but above the 4% comp expected for Q2 overall, as May 2010 is the easiest compare in the May-June-July period. Macy's continues to show strong momentum relative to the other department stores, but still below the high end...We remain comfortable with our Kohl's estimate of 2%-4%, which is in line with quarterly comp guidance."
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