24/7 Wall St. » SKS

24/7 Wall St. Closing Bell — May 15, 2012

Paul Ausick — Tue, 15 May 2012 20:05:44 +0000

Two of the three major US stock indexes opened higher this morning as investors reacted to the news from Greece that no government could be formed and that a second election will be held next month. The news on German manufacturing was good (more coverage here) and US data was also mostly better, but not enough to deflect a weak opening. Equities moved higher later in the day, but overall the market looks set to close half a point lower than where it opened. The US dollar index rose today, now up 0.75% at 81.211. The GSCI commodity index is down about 1% at 639.40, with commodities mostly higher today, defying the stronger dollar. WTI crude oil closed down -0.8% at $93.98/barrel and Brent crude trades up 0.65% at $112.30/barrel. Gold settled down -0.3% today, at $1,557.10/ounce, the yellow metal’s lowest close of the year to date (more coverage here).

The unofficial closing bells put the DJIA down more than 63 points to 12,632.08 (-0.50%), the NASDAQ fell nearly 9 points (-0.30%) to 2,893.76, and the S&P 500 fell -0.57% or nearly 8 points to 1,330.66.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) raised to ‘outperform’ at Credit Suisse; Applied Materials Inc. (NASDAQ: AMAT) cut to ‘hold’ at Needham; Colgate-Palmolive Co. (NYSE: CL) raised to ‘buy’ at Argus; McDonald’s Corp. (NYSE: MCD) cut to ‘neutral’ at Cowen; and Phillips 66 (NYSE: PSX) started as ‘buy’ at Citigroup.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Renren Inc. (NYSE: RENN) is up 5.5% at $5.79; Agilent Technologies Inc. (NYSE: A) is up XX% at $XX; A123 Systems Inc. (NASDAQ: AONE) is up 4.5% at $40.63; Arctic Cat Inc. (NASDAQ: ACAT) is down -10.6% at $37.84; Dick’s Sporting Goods Inc. (NYSE: DKS) is up 6.8% at $50.45 after posting a new 52-week high of $51.65 earlier today; Saks Inc. (NYSE: SKS) is down -0.5% at $10.00; TJX Companies Inc. (NYSE: TJX) is up 7.1% at $42.50; Valspar Corp. (NYSE: VAL) is down -6.7% at $46.45, and The Home Depot Inc. (NYSE: HD) is down -2.6% at $48.61 (more coverage here).

On Wednesday we are scheduled to get earnings from 8×8 Inc. (NASDAQ: EGHT), Abercrombie & Fitch Co. (NYSE: ANF), Chico’s FAS Inc. (NYSE: CHS), Deere & Co. (NYSE: DE), Jack in the Box Inc. (NASDAQ: JACK), and Target Corp. (NYSE: TGT).

Other standouts from today include the following stocks:

Facebook Inc. (soon to be NASDAQ: FB) raised its IPO price range from from $28-$35 to $34-$38. It is possible the world will regain its balance following the company’s IPO, expected for Friday. But maybe not.

Patriot Coal Corp. (NYSE: PCX) is down -18.8% at $3.92 after posting a new 52-week low of $3.91 earlier today. The coal miner lowered shipment and price expectations this morning. More coverage here.

JPMorgan Chase & Co. (NYSE: JPM) is up 1.7% at $36.39. CEO Jamie Dimon dodged a bullet at today’s shareholder meeting and kept both his jobs.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Housing starts
10:30 a.m. – EIA weekly petroleum status report
2:00 p.m. – FOMC minutes released

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: A, ACAT, AMAT, AMZN, ANF, AONE, CHS, CL, DE, DKS, EGHT, FB, JACK, JPM, MCD, PCX, PSX, RENN, SKS, TGT, TJX, VAL

Kohl’s, Nordstrom Disappoint, Dillard’s Shines (KSS, JWN, DDS, M, SKS, JCP)

Paul Ausick — Fri, 11 May 2012 15:55:23 +0000

Lost in the last night’s commotion over the $2 billion loss at JPMorgan Chase & Co. (NYSE: JPM) were weak reports from retail Nordstrom Inc. (NYSE: JWN), Kohl’s Corp. (NYSE: KSS), and Dillard’s Inc. (NYSE: DDS). Kohl’s reported EPS of $0.63, better than the consensus estimate of $0.61 on revenue of $4.2 billion. Nordstrom reported EPS of $0.70 versus a consensus estimate of $0.75. Dillard’s beat EPS estimates by $0.18, at $1.85.

Macy’s Inc. (NYSE: M) reported earnings earlier this week and beat estimates on both the top and bottom lines. The company’s stock still got beaten down on a weak forecast, and that is what happened to both Nordstrom and Kohl’s as well. Saks Inc. (NYSE: SKS) reports next Wednesday and the consensus estimates call for EPS of $0.18 on revenues of $764.4 million. J.C. Penney Co. Inc. (NYSE: JCP) also reports next Wednesday and is expected to post an EPS loss of -$0.10 on revenues of $3.48 billion.

A beat, though, doesn’t look like it will mean much. What matters now to investors is guidance. Macy’s guided full-year EPS below the consensus estimate and got whacked. Kohl’s guided second-quarter EPS to $0.96-$1.02, below the consensus estimate of $1.11. Nordstrom reiterated its full-year EPS guidance at $3.30-$3.45, below the consensus estimate of $3.48. That’s just not good enough. Dillard’s did the smart thing and did not offer any information on guidance.

Kohl’s shares are down -0.4% just before noon today, at $48.47 in a 52-week range of $42.14-$57.39. Nordstrom’s shares are down -2.8% at $52.02 in a 52-week range of $37.28-$57.75.

Dillard’s shares are up 8.3% at $71.70, after posting a new 52-week high of $71.97 earlier this morning. The previous range was $38.99-$67.22. Dillard’s same-store sales report for May could reinforce the company’s new growth pattern — or turn it south again. Dillard’s offered no hints, so all’s well today.

Paul Ausick

Filed under: Earnings Warning, Retail Tagged: DDS, JCP, JWN, KSS, M, SKS

Cautious Consumers Cancel Macy’s Results (M, JWN, SKS, JCP, KSS, DDS)

Paul Ausick — Wed, 09 May 2012 13:11:25 +0000

Macy’s Inc. (NYSE: M) reported first quarter results this morning that beat estimates on both EPS and revenues. The soft spot was the company’s guidance, and that is taking the stock down sharply in pre-market trading.

The company leads off earnings seasons for a number of big department stores, all of which will be announcing results in the next couple of weeks. Nordstrom Inc. (NYSE: JWN) reports earnings tomorrow and is expected to post EPS of $0.75 on revenue of $2.52 billion. Kohl’s Corp. (NYSE: KSS) also reports tomorrow, and the consensus estimate for EPS is $0.61 and for revenue the estimate is $4.25 billion. Saks Inc. (NYSE: SKS) reports next Wednesday and the consensus estimates call for EPS of $0.18 on revenues of $764.4 million. J.C. Penney Co. Inc. (NYSE: JCP) also reports next Wednesday and is expected to post an EPS loss of -$0.10 on revenues of $3.48 billion. Dillard’s Inc. (NYSE: DDS) has not yet scheduled its announcement, but the estimates call for EPS of $1.67 on revenue of $1.53 billion.

Macy’s grew EPS by 43%, from $0.30 a year ago to $0.43 in the first quarter of 2012. Sales rose 4.4% year-over-year, from $5.89 billion to $6.15 billion. The consensus estimates called for EPS of $0.40 on revenue of $6.13 billion.

Where Macy’s failed to impress was its outlook for full-year EPS. The company reiterated guidance of $3.25-$3.30. The consensus estimate had been $3.41. Same-store sales in April were also a weight, rising just 1.2%, well below the consensus estimate for 1.9% growth.

Macy’s cost of sales rose slightly and margins fell slightly, from 39.1% to 38.8%. Strong sales in March due to an early Easter and warm weather did not flow into April as consumers grew more cautious about purchases.

The company’s shares are down -4.3% at $37.70 in pre-market trading this morning, within a 52-week range of $22.66-$42.17.

Paul Ausick

Filed under: Earnings, Retail Tagged: DDS, JCP, JWN, KSS, M, SKS

24/7 Wall St. Closing Bell (LNKD, FDX, ALL, RHT, SKS, FSLR, SPWR, AES, DUK, EL, WPO, EXC, MSG, AWR, BBEP, DNDN, DISH, LPX, KID, JKS, TSN, BAGL, DLB, BODY)

Paul Ausick — Fri, 04 May 2012 20:07:31 +0000

The major US stock indexes opened lower this morning following a weak report on non-farm payrolls (our coverage here). The lack of any further data to chew over left the markets with nothing to do but worry about slowing growth. Energy stocks led the slide as crude prices continued to fall (more coverage here). The US dollar index rose today, now up 0.35% at 79.495. The GSCI commodity index is down about -1.3% at 6769.36, with commodities mixed on the gains for the dollar. WTI crude oil closed down -4.6% at $97.81/barrel, its lowest level since mid-February, and Brent crude trades down -2.48% at $113.20/barrel. Gold settled up 0.6% today, at $1,645.20/ounce.

The unofficial closing bells put the DJIA down more than 168 points to 13,038.04 (-1.28%), the NASDAQ fell nearly 68 points (-2.25%) to 2,956.34, and the S&P 500 fell -1.62% or more than 22 points to 1,369.09.

There were several analyst upgrades and downgrades today, including LinkedIn Corp. (NYSE: LNKD) target price raised to $140 at Susquehanna; FedEx Corp. (NYSE: FDX) raised to ‘strong buy’ at Raymond James; The Allstate Corp. (NYSE: ALL) raised to ‘overweight’ at Barclays; Red Hat Inc. (NYSE: RHT) started as ‘outperform’ at BMO; and Saks Inc. (NYSE: SKS) reiterated ‘buy’ and target price of $14 at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: First Solar Inc. (NASDAQ: FSLR) is down -6% at $16.98 after posting a new 52-week low of $16.80 earlier today (more solar coverage here); SunPower Corp. (NASDAQ: SPWR) is down -2.1% at $5.58; AES Corp. (NYSE: AES) is down -0.7% at $12.13 (more utilities coverage here); Duke Energy Corp. (NYSE: DUK) is up 0.9% at $21.60; Estée Lauder Companies Inc. (NYSE: EL) is down -5.8% at $60.44 (more coverage here); The Washington Post Co. (NYSE: WPO) is down -5.4% at $355.88; Exelon Corp. (NYSE: EXC) is down -0.7% at $38.54; and The Madison Square Garden Co. (NASDAQ: MSG) is up 3.7% at $37.87 after posting a new 52-week high of $38.38..

On Monday we get earnings from American States Water Co. (NYSE: AWR), Breitburn Energy Partners L.P. (NASDAQ: BBEP), Dendreon Corp. (NASDAQ: DNDN), Dish Network Corp. (NASDAQ: DISH), Louisiana Pacific Corp. (NYSE: LPX), Kid Brands Inc. (NYSE: KID), Jinkosolar Holding Co. Ltd. (NYSE: JKS), and Tyson Foods Inc. (NYSE: TSN).

Other standouts from today include the following stocks:

Einstein Noah Restaurant Group, Inc. (NASDAQ: BAGL) is up 19.9% at $16.84 after posting a new 52-week high of $17.68 earlier today. The bagel maker and restaurateur reported strong earnings and said it would begin to explore strategic options.

Dolby Laboratories Inc. (NYSE: DLB) is up 17.5% at $44.22. The company reported strong earnings and has signed a deal with Microsoft Corp. (NASDAQ: MSFT). More coverage here.

Body Central Corp. (NASDAQ: BODY) is down -47.8% at $15.11. The young women’s apparel seller reported poor earnings and forecast more of the same until at least back-to-school season.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

11:30 a.m. – 3- and 6- month bill auction
3:00 p.m. – Consumer credit report

Have a great weekend.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AES, ALL, AWR, BAGL, BBEP, BODY, DISH, DLB, DNDN, DUK, EL, EXC, FDX, FSLR, JKS, KID, LNKD, LPX, MSG, RHT, SKS, SPWR, TSN, WPO

Top Analyst Upgrades & Downgrades (AIR, ALL, EPD, FDX, FSLR, HON, JDSU, LNKD, BIN, RHT, SKS, SFY, SPRD, SPWR, TRLG, VCLK, WFM)

Administrator — Fri, 04 May 2012 12:24:05 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Friday.

AAR Corporation (NYSE: AIR) named Bear of the Day at Zacks.

The Allstate Corporation (NYSE: ALL) Raised to Overweight at Barclays.

Enterprise Products Partners. LP (NYSE: EPD) Started as Outperform at Credit Suisse.

FedEx Corporation (NYSE: FDX) Raised to Strong Buy at Raymond James.

First Solar Inc. (NASDAQ: FSLR) maintain HOLD with $20 target at Canaccord Genuity.

Honeywell International (NYSE: HON) named Bull of the Day at Zacks.

JDS Uniphase Corporation (NASDAQ: JDSU) Reiterated Buy with $17 target at Argus.

LinkedIn Corporation (NYSE: LNKD) target raised to $140 at Susquehanna.

Progressive Waste Solutions Ltd. (NYSE: BIN) Cut to Neutral with $23 target at Credit Suisse.

Red Hat, Inc. (NYSE: RHT) Started as Outperform at BMO.

Saks Inc. (NYSE: SKS) Reiterated Buy and $14 target at Argus.

Spreadtrum Communications (NASDAQ: SPRD) Reiterated Buy and raised target to $21 at Canaccord Genuity.

SunPower Corporation (NASDAQ: SPWR) Raised to Hold at ThinkEquity.

Swift Energy Company (NYSE: SFY) Reiterated Buy but cut target to $40 at Canaccord Genuity.

True Religion Apparel, Inc. (NASDAQ: TRLG) named value stock of the day at Zacks.

ValueClick, Inc. (NASDAQ: VCLK) Raised to Buy at S&P Capital IQ (late-Thursday call).

Whole Foods Markets, Inc. (NASDAQ: WFM) Raised to Overweight at JPMorgan.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: AIR, ALL, BIN, EPD, FDX, FSLR, HON, JDSU, LNKD, RHT, SFY, SKS, SPRD, SPWR, TRLG, VCLK, WFM

Only A Few Big Retail/Apparel Winners Expected For April (JWN, SKS, LULU, KORS, AEO)

Administrator — Wed, 02 May 2012 16:26:34 +0000

The final projections from Retail Metrics are out and April is looking as though the same-store sales are going to come in up only 1.5%. If so, this will mark the lowest gain since October 2010. We have focused on the retail and apparel sector here to keep it focused and there are several issues that are expected to hurt this April.

For starters, an earlier Easter by 16 days pushed sales out of April into March. Weak private sector employment data is not helping. A very warm February and March likely acted as a pull-forward in sales away from April, and a later Mother’s Day most likely pushed some April sales out into May. Another issue is the elevated but abating price of gasoline for consumers. The gain of 8.7% in April 2011 is also making further gains more difficult by comparison.

The Monthly Retail Metrics economic diffusion index has rolled over and is now more negative data points than positive for the first time in months. Here are some of the expected double-digit winners:

In large-format upscale apparel retail stores it is Nordstrom Inc. (NYSE: JWN) that is expected to have the highest marks with same-store sales gains of 6.2%. Saks Inc. (NYSE: SKS) is expected to be up 5.6%

Lululemon Athletica Inc. (NASDAQ: LULU) may not be considered a ‘fashion’ retailer based upon its yoga and exercise theme, but the expectation is for gains of 21.8% for April same-store sales.

Michael Kors Holdings Ltd. (NYSE: KORS) sells through licensing but also has its own network of stores. Retail Metrics sees it posting a massive 34.4% in same-store sales gains.

American Eagle Outfitters, Inc. (NYSE: AEO) is already seeing its shares urge by over 11% to $19.99 after it raised guidance based upon sales gains of 17% for stores open at least a year if you include the AEO Direct site.

Keep in mind that many retail outlets have seen two years or more of solid sales gains and that many of these stocks have risen excessively. It might be getting easier to argue that the retail sector shares have risen enough that any bad news is not likely to be received too well by investors.

JON C. OGG

Filed under: Apparel, Consumer Goods, Economy, Luxury, Retail Tagged: AEO, JWN, KORS, LULU, SKS

April Same-store Sales Headed for a Fall (WAG, KSS, SKS, JCP, TJX, XRT)

Paul Ausick — Mon, 30 Apr 2012 16:32:21 +0000

US retailers will report April same-store sales results this week and the outlook calls for a substantial drop from March’s gain of 3.9% to an April rise of just 1.4%. The data comes from research firm Retail Metrics Inc.

The consensus estimate for a same-store sales gains is down -0.1% from a week ago as a result of lowered forecasts from Walgreen Co. (NYSE: WAG) and Kohl’s Corp. (NYSE: KSS). Other top retailers taking share price hits today include Saks Inc. (NYSE: SKS) down nearly -4%, J.C. Penney Co. Inc. (NYSE: JCP) down about -1%, and The TJX Companies Inc. (NYSE: TJX) down about -1.3%.

Other factors contributing to the lower expectations include the early Easter holiday which pulled sales into March, warm weather in Feburary and March, a late Mother’s day that will push marginal sales into May, and a very high comparison to an 8.7% same-store sales jump in April 2011.

Retail Metrics notes that “the state of the American consumer remains somewhat fragile:”

Unemployment is still entrenched north of 8%, gasoline prices near $4/gallon but looking to have peaked, consumer confidence mixed, … housing and home prices searching for a bottom, growing concerns over a third straight annual economic soft patch, and the weekly initial jobless claims four-week moving average having ticked up again last week.

The research firm also noted that of 19 retailers reporting first quarter results for fiscal quarters ending in March, 16 beat expectations and 15 posted higher year-over-year earnings growth. On the basis of those numbers, Research Metrics now expects first quarter retail earnings to rise 10%, up from an earlier forecast of 8.7%.

Combining the two months of March and April, same-store sales are expected to gain 2.8%, “well below” the average increase for the last 14 months of 4.7% growth. The 2012 growth is also lower than either 2010 (5.2%) or 2011 (4.6%). Some of this year’s drop is attributed to the much higher comparable sales in 2011, as we’ve already noted.

The SPDR S&P Retail ETF (AMEX: XRT) posted a new 52-week high this morning of $63.03 before giving some of the gain back to trade at $62.03 at about 12:30 p.m. The ETF has gained nearly 18% in the past 12 months though it is down slightly for the year-to-date.

Paul Ausick

Filed under: Consumer Goods, Retail Tagged: JCP, KSS, SKS, TJX, WAG, XRT

Top Analyst Upgrades & Downgrades (AIG, DELL, FWLT, HOG, KBR, MDR, NE, PLG, GOLD, RJF, SKS, TIVO, VLO, VE, WPRT)

Administrator — Tue, 10 Apr 2012 12:17:23 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday.

American International Group Inc. (NYSE: AIG) Raised to Outperform at Wells Fargo.

Dell Inc. (NASDAQ: DELL) Raised to Equal-weight at Morgan Stanley.

Foster Wheeler AG (NASDAQ: FWLT) Started as Overweight at JPMorgan.

Harley-Davidson, Inc. (NYSE: HOG) Raised to Buy at Citigroup.

KBR Inc. (NYSE: KBR) Started as Overweight at JPMorgan.

McDermott International Inc. (NYSE: MDR) Started as Overweight at JPMorgan.

Noble Corp. (NYSE: NE) Reiterated Buy with $50 target at Argus.

Platinum Group Metals Ltd. (NYSE: PLG) Cut to Neutral at Credit Suisse.

Randgold Resources Ltd. (NASDAQ: GOLD) target raised at Goldman Sachs.

Raymond James Financial Inc. (NYSE: RJF) Started as Outperform at Wells Fargo.

Saks Inc. (NYSE: SKS) Reiterated Buy with $14 target at Argus.

TiVo Inc. (NASDAQ: TIVO) Started as Neutral at JPMorgan.

Valero Energy Corporation (NYSE: VLO) Raised to Top Pick at Citigroup.

Veolia Environnement S.A. (NYSE: VE) Raised to Buy at Nomura.

Westport Innovations Inc. (NASDAQ: WPRT) Started as Overweight at Piper Jaffray.

JON C. OGG

Filed under: Analyst Calls Tagged: AIG, DELL, FWLT, gold, HOG, KBR, MDR, NE, PLG, RJF, SKS, TIVO, VE, VLO, WPRT

Retail Sales Push Higher in February (COST, TGT, KSS, JWN, SKS, SSI, M, GPS, TJX, LTD, ROST, SMRT, WTSLA, BKE, ZUMZ)

Paul Ausick — Thu, 01 Mar 2012 16:53:35 +0000

Retailers have been posting same-store sales figures for February this morning, and most are posting better-than-expected numbers — in some cases, much better than expected. We have reports from 15 companies: Costco Wholesale Corp. (NASDAQ: COST), Target Corp. (NYSE: TGT, Kohl’s Corp. (NYSE: KSS), Nordstrom Inc. (NYSE: JWN), Saks Inc. (NYSE: SKS), Stage Stores Inc. (NYSE: SSI), Macy’s Inc. (NYSE: M), Gap Stores Inc. (NYSE: GPS), TJX Companies Inc. (NYSE: TJX), Limited Brands Inc. (NYSE: LTD), Ross Stores Inc. (NASDAQ: ROST), Stein Mart Inc. (NASDAQ: SMRT), Wet Seal Inc. (NASDAQ: WTSLA), The Buckle Inc. (NYSE: BKE), and Zumiez Inc. (NASDAQ: ZUMZ).

Some highlights:

Costco sales rose 8%, but shares are flat shortly before noon.
Macy’s posted a same-store sales jump of 4.6%, and the company’s shares hit a 52-week high of $38.38.
TJX’s sales rose 9% and the shares posted a new 52-week high of $37.07.
Ross Stores’ sales jumped 9% as well, and the company’s stock put up a new 52-week high of $54.27.
Buckle’s same-store sales rose a whopping 14.8%, and the shares posted a new 52-week high of $48.43.
Zumiez’s sales rose 14.2% in February and the stock put up a new 52-week high of $33.84.

The biggest change came from Gap Stores. The company posted a same-store sales jump of 4%, when analysts were expecting a shortfall of -1.4%. Shares posted a new 52-week high of $26.00, more than $2/share above the previous high.

Kohl’s and Wet Seal were the only stores on this list to show sales dips, but Wet Seal’s dip was only half what had been expected. Kohl’s was expected to break even, but same-store sales fell -0.8%.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BKE, COST, GPS, JWN, KSS, LTD, M, ROST, SKS, SMRT, SSI, TGT, TJX, WTSLA, ZUMZ

Feb. Same-Store Sales Expectation Move Higher (TGT, LTD, ROST, SKS, JWN, ZUMZ)

Administrator — Tue, 28 Feb 2012 17:06:27 +0000

Retail Metrics is out with its preliminary expectation for February same-store sales data to be released later in the week. Keep in mind that February has an extra day compared to 2011 because of Leap Year, but the expectations are for a rise due to promotional sales and due to better economic data. One concern is that February may have “pulled forward” sales from March due to weather.

The Retail Metrics analysis has lifted expectations for Target Corporation (NYSE: TGT), Limited Brands, Inc. (NYSE: LTD), Ross Stores Inc. (NASDAQ: ROST), Saks Inc. (NYSE: SKS), Nordstrom Inc. (NYSE: JWN), and even Zumiez Inc. (NASDAQ: ZUMZ).

The report said, “As noted in previous reports, several catalysts gave rise to solid traffic and conversion levels throughout the month. Merchandise and food sales were strong around Super Bowl weekend at the beginning of the month. Valentine’s Day related gift selling looked to be quite good with the National Retail Federation calling for a high-single digit increase in sales.”

JON C. OGG

Filed under: 24/7 Wall St. Wire, Apparel, Economy, Retail Tagged: JWN, LTD, ROST, SKS, TGT, ZUMZ