• Wed, Jan. 18, 7:37 AM
    • Credit Suisse dives into the department sector amid the shifting sands in the sector.
    • The firm upgrades Nordstrom (NYSE:JWN) to Outperform and boosts its price target to $58.
    • J.C. Penney (NYSE:JCP) and Kohl's (NYSE:KSS) are both lowered to Underperform and catch price targets of $7 and $58, respectively.
    • JWN +0.54% premarket to $44.62. JCP -2.88% to $6.74. KSS -2.37% to $40.40.
    Wed, Jan. 18, 7:37 AM | 9 Comments
  • Tue, Jan. 17, 9:36 AM
    • Stifel Nicolaus downgrades Nordstrom (JWN +0.6%) to Hold from Buy on concerns over the holiday sales numbers the department store chain will report.
    • "We believe that the highly competitive environment for retail is pressuring traffic, sales and margins, and we do not anticipate this trend to abate in the near term," reads the Stifel note.
    • The price target on JWN is dropped to $40 from $62 by Stifel, while the Q4 EPS estimate is reduced to $1.13 vs. $1.17 consensus.
    Tue, Jan. 17, 9:36 AM | 3 Comments
  • Fri, Jan. 13, 2:15 PM
    • Some major store chain names are lower after the retail sales report this morning showed weakness in some key categories and GameStop issued disappointing sales numbers for the holiday period.
    • Best Buy (BBY -0.7%), Wal-Mart (WMT -1%), Target (TGT -1.3%), Signet Jewelers (SIG -3%), J.C. Penney (JCP -1.6%), Nordstrom (JWN -1.4%) and Conn's (CONN -4%) are some of the stocks in the retail sector that are trailing market averages.
    • Earlier today, Stifel's Lindsay Piegza told Seeking Alpha that consumers are waiting for the proof of the Trump GDP breakout amid the reality of higher healthcare costs. At least for today, some investors may be doing the same.
    • Previously: Retail sales fall short of estimates (Jan. 13)
    • Previously: Stifel Nicolaus says consumers are waiting for the proof (Jan. 13)
    Fri, Jan. 13, 2:15 PM | 31 Comments
  • Thu, Jan. 5, 10:22 AM
    • A barrage of disappointing sales reports and guidance cuts from retailers is roiling the broad sector.
    • The department store sector is ground zero for the damage. Kohl's (KSS -18.1%), Macy's (M -14.5%), Nordstrom (JWN -8.9%), Dillard's (DDS -9.3%) and J.C. Penney (JCP -7.3%) are all down sharply.
    • Chains also bleeding include Cato (CATO -9.6%), Tailored Brands (TLRD -6.3%), L Brands (LB -7.5%), Ascena Retail (ASNA -5.7%), Francesca's (FRAN -6.5%), Stein Mart (SMRT -4.7%), Stage Stores (SSI -5.8%), Urban Outiffters (URBN -4.4%), DSW (DSW -3.8%), Express (EXPR -3.8%), Citi Trends (CTRN -4.3%).
    • Apparel makers Fossil (FOSL -6.5%), G-III Apparel (GIII -6.6%), Sequential Brands Group (SQBG -5.5%), Vera Bradley (VRA -4.2%) and Coach (COH -2.5%) are also getting punished.
    • If there's one warning to encapsulate the retail weakness it came from L Brands which cited an alarming drop in merchandise margins. It's hard to believe that Amazon (NASDAQ:AMZN) didn't have something to do with that development. By the way, Amazon is up 2.06% on the day.
    Thu, Jan. 5, 10:22 AM | 62 Comments
  • Thu, Jan. 5, 9:12 AM
    Thu, Jan. 5, 9:12 AM
  • Wed, Jan. 4, 5:39 PM
    • Top gainers, as of 5.25 p.m.: SGYP +2.8%. ACHC +2.7%. HLT +1.7%. FSC +1.1%. UAE +1.0%.
    • Top losers, as of 5.25p.m.: KSS -15.0%. M -9.7%. JWN -5.4%. JCP -4.0%. DDS -3.9%.
    Wed, Jan. 4, 5:39 PM | 14 Comments
  • Wed, Jan. 4, 5:06 PM
    • Shares of traditional department stores tumble after-hours as Macy's (NYSE:M) and Kohl's (NYSE:KSS) cut earnings estimates due to weak holiday sales (I, II); Macy's also added details on its previous announcement to close 100 stores, saying the moves will result in 10K job cuts and a $575M reduction in 2017 sales.
    • The news causes a ripple effect across the sector: JWN -5.9%, JCP -4.8%, DDS -3.4%, SHLD -2.5%, TGT -1.8%, ROST -1.5% AH.
    • Apparel and accessory companies with significant presences in big box retail also are lower: KORS -2.8%, COH -2.6%, KATE -1.1% AH.
    • ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR
    Wed, Jan. 4, 5:06 PM | 56 Comments
  • Dec. 16, 2016, 1:06 PM
    • The department store sector is getting roughed up after a pair of analyst notes paint a gloomy picture.
    • JPMorgan is out with a harsh assessment on Nordstrom (JWN -8.2%)  (Underweight/$48 PT) and Evercore ISI warns on Trump-led border adjustment taxes for materials sourced outside the U.S.
    • J.C. Penney (JCP -5.3%), Kohl's (KSS -5.1%), Macy's (M -4.9%) and Dillard's (DDS -1.7%) are all lower.
    • Previously: Nordstrom lower after JPMorgan loses faith (Dec. 16)
    Dec. 16, 2016, 1:06 PM | 36 Comments
  • Dec. 16, 2016, 7:08 AM
    • JPMorgan downgrades Nordstrom (NYSE:JWN) to Underweight after being stuck at Neutral on the stock.
    • The investment firms assigns a price target of $48 to the department store operator.
    • Shares of JWN are down 1.56% to $54.42 in premarket action.
    Dec. 16, 2016, 7:08 AM | 4 Comments
  • Dec. 15, 2016, 10:54 AM
    • Moody's forecasts retail sales will increase 3% to 4% in 2017 and operating income will be up 4% to 5%,
    • Relating to DG, DLTR, FIVE: "Dollar stores will be among the top-performers in 2017, as cash-strapped consumers look to save money on multiple fronts."
    • Relating to the home improvment sector (HD, LOW): "Home improvement stores such as Home Depot and Lowe's will benefit from the continuing robust recovery of the housing market, and the subsiding deflationary pressure on supermarkets in 2017 should result in the sub-sector outperforming the broader retail industry."
    • Relating to mall chains (GPS, FINL, FL, CROX, DECK, LB, ANF, DDS, M, JWN, AEO): "Apparel and footwear sellers, on the other hand, will be squeezed as consumers continue to spend more on healthcare, rent, home-related products, electronics and cars, while weak traffic trends and competitive pressure will continue to impact operating performance of department stores."
    • Moody's says Wal-Mart (WMT +0.4%) will continue to see bottom-line pressure as wage hikes and investment for future growth squeez its profits.
    • ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, FDIS, PEJ, RCD, PMR, UGE, SZK, CNDF, FTXD, JHMC.
    Dec. 15, 2016, 10:54 AM | 3 Comments
  • Dec. 14, 2016, 12:04 PM
    • Retail transactions with a discount as part of the sales price increased 79% Y/Y, according to tracking by DynamicAction.
    • Separate tracking by Noumra Instinet showed 19 of 21 retailers discounted more this year during the first weekend of December, with Ulta Salon (NASDAQ:ULTA) and Athleta (NYSE:GPS) the two expections. Higher promotional activity was observed at Urban Outfitters (NASDAQ:URBN), Michael Kors (NYSE:KORS) and Coach (NYSE:COH).
    • The poor read on discounting cuts into the argument that the tighter inventory levels in retail would help pricing. Kohl's (NYSE:KSS), Nordstrom (NYSE:JWN) and Wal-Mart all increased sales at a faster clip than inventory piled up in Q3.
    • ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, CNDF, FTXD, JHMC.
    Dec. 14, 2016, 12:04 PM | 2 Comments
  • Dec. 14, 2016, 9:01 AM
    • Retail sales rose 3.8% on a year-over-year comparison.
    • A 12% increase in nonstore retailer sales and 6% rise in sales churned up by health and personal care stores (ULTA, SBH) , helped to offset the 6% drop in department store sales (KSS, JCP, [[DDS], M, JWN) and 4% tailoff in electronics and appliance store (BBY, HGG, CONN) sales.
    • Price deflation cut into grocery store (KR, SVU, IMKTA) sales growth. The category was up 0.1% M/M and 2.6% Y/Y.
    • Previously: Retail sales light for November (Dec. 14)
    Dec. 14, 2016, 9:01 AM | 6 Comments
  • Nov. 29, 2016, 9:20 AM
    • The latest read from Redbook on retail store sales indicates that sales are up 1.2% Y/Y through the first 26 days of the month. Redbook expects a 1.4% gain for the month.
    • Department stores reported strength in gift merchandise, including small appliances, accessories and cold weather apparel. The level of discounting in the sector will have a large impact on how Q4 earnings play out.
    • Related stocks: DDS, M, SSI, BONT, SHLD, JCP, KSS, JWN.
    • Previously: Redbook Chain Store Sales: +2.2% (Nov. 29)
    Nov. 29, 2016, 9:20 AM | 17 Comments
  • Nov. 16, 2016, 4:44 PM
    • Nordstrom (NYSE:JWN) declares $0.37/share quarterly dividend, in line with previous.
    • Forward yield 2.54%
    • Payable Dec. 13; for shareholders of record Nov. 28; ex-div Nov. 23.
    Nov. 16, 2016, 4:44 PM
  • Nov. 14, 2016, 10:33 AM
    • Department store stocks are rallying right along with other mall names on a boost in confidence from investors and analysts that consumer spending will perk up and GOP tax policy will help lift profits across the sector.
    • Sears Holdings (SHLD +4.3%), J.C. Penney (JCP +3.8%), Kohl's (KSS +5.1%), Bon-Ton Stores (BONT +6.7%), Nordstrom (JWN +5.7%) and Dillard's (DDS +4.8%) are all solidly higher.
    • An interesting case is Macy's (M +5.2%) which drew the ire and Twitter hostility from Donald Trump during the primaries. Shares of Macy's are up 18% since the election as investors assume that the Trump-Macy's feud is a non-factor.
    • Previously: Vibrant rally for clothing and footwear stocks (Nov. 14)
    • Previously: Investors see upside with apparel store stocks (Nov. 14)
    Nov. 14, 2016, 10:33 AM | 7 Comments
  • Nov. 10, 2016, 4:07 PM
    • Nordstrom (NYSE:JWN): Q3 EPS of $0.84 beats by $0.33.
    • Revenue of $3.54B (+6.3% Y/Y) beats by $60M.
    • Shares +3.57%.
    • Press Release
    Nov. 10, 2016, 4:07 PM | 2 Comments