Retail Sales Update

Despite the headlines in the media this morning about the weak retail sales numbers, the retail index (RLX) is up today, and nearly all of the retailer stocks on my screen are nicely higher as well.

Here are some notable reports from this morning, along with consensus estimates:

• CTRN: +12.8% (vs. +2.0%)
• COST: +7.0% (vs. +6.4%)
• BEBE: +4.1% (vs. +1.6%)
• CHS: +8.4% (vs. +8.0%)
• KSS: +3.7% (vs. +2.8%)
• ZUMZ: +14.3% (vs. +7.0%)
• TGT: +2.2% (vs. +2.0%)
• SHRP: -29.0% (vs. -18.6%)
• PSUN: -10.9% (vs. -3.3%)
• GPS: -13.0% (vs. -8.2%)
• HOTT: -12.7% (vs. -10.9%)

Market Comments: The market is rebounding from its earlier lows. Semis and brokers are up again, while biotechs continue to lag severely. AAPL and GOOG are adding to recent gains.

long GOOG, KSS