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

• Tuesday, November 17, 2009

• 09:00 AM Premarket gainers: SMTL +30%. AGO +12%. HLCS +12%. CSE +11%. APWR +11%. DDS +10%. NGSX +9%. SINA +7%. SKS +6%. EJ +6%. CTIC +6%. DPTR +5%. MPEL +4%.
  Losers: PSUN -22%. SPWRA -16%. JEC -10%. AOB -9%. BCRX -9%. IRE -9%. CPSL -8%. SII -7%. AIB -7%. NLST -6%. TGP -6%. HOLX -5%. THOR -4%. 2 Comments
• 08:15 AM Saks (SKS): Q3 EPS of $0.01 beats by $0.12. Revenue of $631M (-8.5%) vs. $624M. SSS -10.1.%. "We believe there is more stability and predictability in our business compared to twelve or even six months ago; however, the overall environment remains challenging." Shares +3% premarket. (PR) Comment!
• 00:05 AM Notable premarket earnings: CSIQ, COV, DDS, HD, JEC, MPEL, SKS, TGT, TJX 1 Comment

• Thursday, November 5, 2009

• 08:53 AM Same-store sales results #2:
  CATO flat vs. +4%.
  JCP -4.5% vs. -2.6%.
  LTD -4% vs. -3.1%.
  M -0.8% vs. flat.
  JWN +6.5% vs. +2.9%.
  ROST +9% vs. +7.1%.
  SSI -0.1% vs. -4.4%.
  TGT -0.1% in line.
  BKE +4.3% vs. +5.8%.
  WTSLA -1.3% vs. -7.3%.
  ZUMZ -8.9% vs. -6.5%.
  SKS +0.7% vs. -3%. Comment!

• Wednesday, November 4, 2009

• 11:19 AM Lazard's Todd Slater cuts ratings on retail, apparel and footwear, saying the sector "will need to show revenue growth to drive double-digit earnings growth and justify the next leg up." Saks (SKS -2.6%) was cut to sell. Reduced to hold from buy: American Eagle Outfitters (AEO), Jones Apparel Group (JNY), Guess (GES), Warnaco (WRC). Comment!

• Thursday, October 8, 2009

• 08:44 AM Same-store sales results #3 (actual vs. consensus): ARO +19% vs. +12.3%. CTR +6% vs. flat. JCP -1.4% vs. -3.3%. KSS +5.5% vs. +0.2%. JWN -2.4% vs. -5.9%. ROST +8% vs. +7.3%. SKS -11.6% vs. -11.9%. TGT -1.7% vs. -2.2%. TJX +7% vs. +4.1%. Total positive vs. negative suprises: 21:5. Comment!

• Thursday, October 1, 2009

• 11:13 AM Time to take profits in Saks (SKS -4.5%), JPMorgan says, dropping shares to Neutral. While liquidity concerns have mostly disappeared, firm finds recent insider selling by CEO Steve Sadove and a $100M disconcerting, and may suggest Saks' management believes recent gains are overdone. Comment!

• Thursday, September 3, 2009

• 08:50 AM SSS #5: Aeropostale (ARO) +9% vs. +6.9%. Costco (COST) -2% vs. -5.6%. Kohl's (KSS) +0.2% vs. -1.6%. Macy's (M) -8.1% vs. -7.6%. Ross Stores (ROST) +6% vs. +4.4%. Saks (SKS) -19.6% vs. -13.7%. 1 Comment

• Tuesday, August 18, 2009

• 08:24 AM Saks (SKS): Q2 EPS of -$0.39 beats by $0.13. Revenue of $562M (-14.5%) vs. $563M. Shares +7.5% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: HD, SKS, SOLF, TGT, TJX Comment!

• Thursday, August 6, 2009

• 08:42 AM SSS #4: Macy's (M) -10.7% vs. -8.8%. Saks (SKS) -16.3% in-line. Target (TGT) -6.5% vs. -5.8%. TJX Cos (TJX) +4% vs. +2.1%. Aeropostale (ARO) +6% vs. +10.2%. Comment!

• Thursday, July 9, 2009

• 09:00 AM Premarket gainers: RIGL +18%. AXL +16%. NVAX +12%. HBAN +11%. CTIC +10%. HGSI +8%. SOL +6%. SKS +6%. AA +6%. ALU +6%. TJX +6%. AAUK +6%. GNW +5%. DB +5%. SAY +6%. TGT +4%. ESLR +4%. SAP +4%. YGE +4%. CLF +4%. MT +4%. ABB +4%. X +4%. F +4%. GOLD +4%. ICE +4%.
  Losers: ELX -14%. AIG -4%. Comment!
• 08:44 AM SSS #5: Kohl's (KSS) -5.6% vs. -6.7%. Nordstrom (JWN) -10% vs. -10.6%. Ross Stores (ROST) +1% vs. -1.8%. Saks (SKS) -4.4% vs. -9.8%. Target (TGT) -6.2% vs. -5.9%. Comment!

• Friday, June 12, 2009

• 09:11 AM Saks (SKS) +8% premarket after Deutsche Bank analyst Bill Dreher upgrades shares to Buy, noting the upscale retailers has "solid initiatives and strategies" in place that should help boost profit margins. Saks also has done a good job of controlling its inventory and expenses, he says. Comment!
• 09:00 AM Premarket gainers: SVNT +46%. RMBS +15%. WH +14%. SVA +14%. VICL +12%. SKS +9%. ACAS +6%. ABAT +5%. BT +4%. NMR +4%.
  Losers: SAY -14%. ARST -11%. HGSI -8%. CPST -7%. ESLR -6%. RTP -6%. AAUK -5%. BHP -5%. MT -4%. CTIC -4%. APTG -4%. HL -4%. AKS -4%. Comment!