Retail Sales Roundup
I think that every company I follow posted better same-store sales in March than the forecast. Here is a list of some of the companies I follow, and how they did in March (vs. consensus):
- ANF: +7.0% (vs. +1.4%)
- ARO: +15.9% (9.3%)
- AEO: +20.0% (+10.9%)
- CHS: +5.2% (-0.1%)
- COST: +6.0% (+5.0%)
- GPS: +6.0% (-1.1%)
- GYMB: +9.0% (+5.6%)
- KSS: +16.8% (+9.9%)
- JWN: +15.0% (+8.5%)
- ZUMZ: +17.0% (+9.6%)
- CVS: +7.0% (+7.3%)
These are impressive numbers. The retail index put in a bottom this morning, and has staged a strong upside reversal. The index is now back above its 50-day. This is all the more notable given the strong rise in the price of oil today.
posted by J. Kahn @ 10:43 AM
2 comments
2 Comments:
What are your thoughts on a possible retest of the early March lows, before the end of April?
I don't see that happening. Unless we get some really big earnings misses. I think sentiment is still too bearish to support a full retest.
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