Quick overview of some of today’s December Retail data:
Wal-Mart cut fiscal Q4 earnings target about 10% from $1.03-07 to 91-94 cents
Costco posted a 4% drop in December same-store sales.
Family Dollar gained 8%; Same store sales gained 6%;
BJ’s Wholesale struggled in December, with 1.6% growth the lowest in a year.
Sears Holdings (the largest U.S. department-store) sales fell 7.3%
Target same-store sales fell 4.1%;
Macy’s December sales fell 4%;
Gap stores sales fell 14%;
Abercrombie & Fitch fell -24%;
Neiman Marcus reported a 28% drop off;
Limited Brands reported a 10% drop;
No real surprises in the group . . .
Retailers Have Not-So-Merry Holidays
WSJ, JANUARY 8, 2009
Wal-Mart Leads Retailers in Slashing Profit Forecasts
Bloomberg, Jan. 8 2008