FBR Capital January Retail Sales Preview
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Price: $100.26 -2.18%
Rating Summary:
15 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 33 | New: 29
Rating Summary:
15 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 33 | New: 29
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FBR Capital January Retail Sales Preview
FBR analyst says, "We believe comp-store sales momentum slowed significantly in January. Certainly, weather played a part, as it has been one of the snowiest Januarys on record. In addition, the weakness is consistent with how we have seen the consumer behave for the last three years. Shoppers are very appointment driven, and so they saved up all their pennies and blew it out for holiday. But now, in January, there is a retrenchment as they go back to their austere, everyday behavior. We believe weak January comps, difficult first-quarter comparisons, and concerns about 2011 guidance could pressure retail stocks in the near term."
"We are forecasting January comps as follows: –5% for Abercrombie & Fitch (NYSE: ANF) versus consensus of –2.1%; –1.0% comps for Aéropostale (NYSE: ARO) versus consensus of –2.7%; –5.0% for American Eagle (NYSE: AEO) versus consensus of –6.5%; 2.0% for J. C. Penney (NYSE: JCP) versus consensus of 2.2%; 3.0% for Nordstrom (NYSE: JWN) versus consensus of 2.4%; 2.0% for Kohl’s (NYSE: KSS) versus consensus of 2.7%; and 2.0% for Macy’s (NYSE: M) versus consensus of 2.4%."
FBR analyst says, "We believe comp-store sales momentum slowed significantly in January. Certainly, weather played a part, as it has been one of the snowiest Januarys on record. In addition, the weakness is consistent with how we have seen the consumer behave for the last three years. Shoppers are very appointment driven, and so they saved up all their pennies and blew it out for holiday. But now, in January, there is a retrenchment as they go back to their austere, everyday behavior. We believe weak January comps, difficult first-quarter comparisons, and concerns about 2011 guidance could pressure retail stocks in the near term."
"We are forecasting January comps as follows: –5% for Abercrombie & Fitch (NYSE: ANF) versus consensus of –2.1%; –1.0% comps for Aéropostale (NYSE: ARO) versus consensus of –2.7%; –5.0% for American Eagle (NYSE: AEO) versus consensus of –6.5%; 2.0% for J. C. Penney (NYSE: JCP) versus consensus of 2.2%; 3.0% for Nordstrom (NYSE: JWN) versus consensus of 2.4%; 2.0% for Kohl’s (NYSE: KSS) versus consensus of 2.7%; and 2.0% for Macy’s (NYSE: M) versus consensus of 2.4%."
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