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August 2009



Restaurant Industry Outlook Improved Slightly in July

August 31, 2009 – Comments (0)

The National Restaurant Association said today that the Restaurant Performance Index, a monthly composite index that tracks the health and outlook for the U.S. restaurant industry, improved slightly in July to 98.1, up 0.3% from it’s June level. However, the index remained below the 100 level, which signifies contraction, for the 23rd consecutive month:  [more]



Retail Execs Show “Guardid Optimism”

August 20, 2009 – Comments (0) | RELATED TICKERS: WMT , TGT , JWN

With the majority of retail companies having reported fiscal 2nd quarter earnings by now, a picture is emerging of an industry continuing to struggle with a very weak consumer spending environment. Most retailers were able to beat earnings estimates through cost-cutting and inventory management initiatives, but top-line results have been soft as demand seems to have stabilized at a very low level.  [more]



Retail Earnings Beat Parade Continues

August 18, 2009 – Comments (0) | RELATED TICKERS: TGT , SKS.DL2 , TJX

As retailer quarterly reports roll in, the “earnings beat” parade continues. Retailers continue to tout their cost-cutting and inventory management initiatives, even as steep sales declines continue to dampen the outlook for the remainder of the year. Below we highlight results from 4 of the companies we cover:  [more]



Retail Round-Up: 8/13/09

August 13, 2009 – Comments (0) | RELATED TICKERS: JWN , KSS , WMT

Macy’s kicked off 2nd-quarter earnings season for retailers yesterday, and things picked up today with the Commerce Department reporting July Retail Sales and retail behemoth Wal-Mart reporting this morning, followed by earnings reports from department stores Kohl’s and Nordstrom. So far, the theme has been “not as bad as it could have been”, with all those reporting having beaten the oft-lowered analyst estimates on cost-cutting measures and inventory management. However, there are few signs that consumers are in a hurry to boost their discretionary spending – the best that can be said of top-line results is they have stabilized at an extremely low level.  [more]



U.S. Retail Sales Disappoint in July

August 13, 2009 – Comments (0)

The U.S. Census Bureau reported today that Advance Monthly Retail Sales for July decreased 0.1% from the prior month to $342.3 Billion, worse than the 0.7% rise analysts were expecting and the first monthly drop since April.  From the year ago period, sales were down 8.3%.  Excluding automobiles, retail and food services sales were down 0.6% from June, less than consensus estimates for a gain of 0.1%, and a decline of 8.5% from a year ago.  [more]



Retail Earnings: Macy’s Kicks it Off

August 12, 2009 – Comments (1) | RELATED TICKERS: M , WMT , SMRT

Investors will be eying a flurry of 2nd quarter earnings reports from retailers over the next few weeks. As the first major to report, department store retailer Macy’s provided some hope that cost-cutting and inventory management will help stop the bleeding on the bottom line for the sector. However, there are still few signs of a demand recovery, and most retailers will continue to see year-over-year sales declines through the holidays.  [more]



July Retail Same-Store Sales

August 06, 2009 – Comments (2) | RELATED TICKERS: AROPQ , TJX , SKS.DL2

As expected, July didn’t provide much of a boost to retailers, as the majority of companies reporting monthly results missed consensus analyst estimates. A combination of unseasonably cool weather, a later Labor Day this year causing tax holidays and promotions to be shifted into August, and consumers continuing to be cautious with their spending resulted in the 11th consecutive month of same-store sales declines.  [more]



Early Returns: July Same-Store Sales

August 05, 2009 – Comments (0) | RELATED TICKERS: HOTT.DL , ZUMZ

A couple of mall-based teen retailers reported same store sales results for July today, and while both companies beat consensus analyst expectations, Hot Topic and Zumiez continue to post steep year-over-year declines. Both mentioned the large impact of Labor Day falling a week later than last year – tax holidays were shifted to the first week of August from the last week of July, and companies are waiting until August for most back-to-school promotions:  [more]

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