Market Currents

• Thursday, December 3, 2009

• 08:40 AM Nov. same-store sales (actual vs. Briefing.com estimate), update #2:
  ANF -17% vs. -10%.
  AEO -2% vs. -2.2%.
  CATO 0% vs. -1.5%.
  DDS -11% vs. -8%.
  FRED -3.3% vs. -1.5%.
  GPS 0% vs. -0.2%.
  JCP -5.9% vs. -4.5%.
  JWN +2.2% vs. +2%.
  KSS +3.3% vs. +0.8%.
  M -6.1% vs. -3.2%.
  SKS -26.1% vs. -21%.
  TGT -1.5% vs. -0.6%.
  TJX +8% vs. +9.1%.
  WTSLA -5% vs. -6.6%.
  8 misses, 6 beats, for a total of 18 misses and 7 beats. 4 Comments

• Thursday, November 19, 2009

• 16:13 PM Gap (GPS): Q3 EPS of $0.44 in-line. Revenue of $3.6B (+1%) in-line. Same-store sales flat. Announces stock buyback of up to $500M. Shares -0.3% AH. (PR) Comment!
• 00:10 AM Notable postmarket earnings: DELL, DBRN, FL, GPS, INTU, WTSLA Comment!

• Thursday, November 5, 2009

• 08:48 AM Same-store sales ((SSS)) results (actual vs. consensus):
  ANF -15% vs. -15.1%.
  ARO +3% vs. +13.5%.
  APP -6% vs. -12%.
  AEO -5% vs. +1.9%.
  BJ -1.1% vs. -0.3%.
  BONT +3.1% vs. -4%.
  PLCE -2% vs. -3.6%.
  COST +5% vs. +4.8%.
  FRED +0.4% vs. +1.4%.
  GPS +4% vs. +1.4%.
  HOTT -2.6% vs. -4.1%. Comment!

• Wednesday, November 4, 2009

• 11:26 AM And while Lazard is down on apparel, Goldman Sachs says to grab call options on The Gap (GPS +1.4%) and Macy's (M +0.7%), expecting the two to beat revenue estimates tomorrow. 1 Comment

• Thursday, October 8, 2009

• 08:08 AM Same-store sales results #2 (actual vs. consensus): ANF -18% vs. -21.4%. APP -15%. AEO -6% vs. -4.1%. BJ -0.5% vs. -1.1%. BONT -4.8% vs. -7%. DDS -6% vs. -9.8%. FRED +3.3% vs. +0.9%. GPS -1% vs. -0.2%. M -2.3% vs. -5%. SSI -5.6% vs. -4.3%. SMRT -5.4% vs. -4%. Total positive vs. negative suprises: 12:5. 1 Comment

• Thursday, September 3, 2009

• 09:51 AM Retailers' same-store sales fell for the 12th straight month (I, II, III, IV, V), but results at Target (TGT +1.4%), Kohl's (KSS +1.5%) and Gap (GPS +5%) topped analyst expectations. Weak spots included Abercrombie & Fitch (ANF -3.8%) and Family Dollar Stores (FDO -8.4%). Still, the decline was smaller than July's. SPDR S&P Retail ETF (XRT) is +0.5% to $31.36. 4 Comments
• 09:00 AM Premarket gainers: CRIS +20%. SVA +20%. HCLS +16%. FNM +12%. VICL +12%. DLM +11%. FRE +11%. CIT +7%. AIG +7%. AIB +6%. INO +6%. ABK +6%. ING +6%. ASX +6%. LYG +5%. AEO +5%. COST +5%. GPS +5%. RCL +5%. SOL +5%. NOK +5%. GNW +4%. RBY +4%. ANO +4%. HGSI +4%. DB +4%. ESLR +4%. MT +4%. SPPI +4%. DHT +4%.
  Losers: HOV -10%. FDO -8%. TSEM -7%. VG -5%. ANF -4%. Comment!
• 08:23 AM SSS #3: Abercrombie (ANF) -29% vs. -23.9%. American Eagle (AEO) -7% vs. -8.3%. BJ's Wholesale (BJ) -6% vs. -8%. Dillard's (DDS) -12% vs. -10.5%. Gap (GPS) -3% vs. -7%. Comment!

• Thursday, August 20, 2009

• 16:05 PM Gap (GPS): Q2 EPS of $0.33 beats by $0.01. Revenue of $3.25B (-7%) in-line. Same-store sales declined 8%. Shares +2.5% AH. (PR) Comment!
• 00:10 AM Notable earnings after Thursday's close: ARO, BRCD, CRM, FL, GPS, INTU, WTSLA Comment!

• Thursday, August 6, 2009

• 09:00 AM Premarket gainers: RTK +161%. SXCI +27%. MBI +20%. CSIQ +19%. ABK +18%. FNM +18%. AIG +15%. AIB +14%. THOR +11%. GNW +11%. CIT +9%. CBEY +9%. CRIS +9%. UDR +9%. CYTR +8%. M +9%. BZ +7%. UN +7%. LYG +7%. PMI +6%. ETFC +6%. WEN +5%. FIG +5%. BCS +5%. KFN +5%. HIG +5%. BEAT +4%. SOL +4%. GPS +4%. DRL +4%. YGE +4%. CHK +4%. CETV +4%. TLAB +4%. BCE +4%. C +5%. ONNN +4%. LDK +4%. HBAN +4%. Comment!
• 08:34 AM SSS #3: The Buckle (BKE) +2.8% vs. +10.2%. Wet Seal (WTSLA) -12.1% vs. -9.3%. Zumiez (ZUMZ) -16.8% vs. -21%. American Apparel (APP) -13% vs. -15%. Gap Inc (GPS) -8% vs. -8.6%. Comment!

• Thursday, July 9, 2009

• 08:43 AM SSS #4: Fred's (FRED) +0.2% vs. -0.5%. Gap (GPS) -10% vs. -8.3%. Macy's (M) -8.9% vs. -8.8%. TJX (TJX) +4% vs. -2.6%. JC Penney (JCP) -8.2% vs. -8.6%. Comment!

• Thursday, June 4, 2009

• 11:21 AM Most retailers missed Street estimates in May, with a median surprise of -0.6%. Outperfomers included Aeropostale (ARO +1.8%). Costco (COST -3.7%) missed estimates, as did Target (TGT -3.8%) and Gap (GPS -5.7%). May marks the first post-Wal-Mart (WMT -0.7%) comps month. Real Time Economics has a sortable table. 1 Comment
• 08:13 AM SSS #3: American Apparel (APP) -10% vs. -4%. Bon-Ton Stores (BONT) -12.1% vs. -8%. Abercrombie (ANF) -28% vs. -23.4%. Aeropostale (ARO) +19% vs. +10.1%. Gap (GPS) -6% vs. -5%. 1 Comment