S&P 500
7,507.80
-0.22%
Dow Jones
51,595.40
-0.32%
Nasdaq 100
30,411.80
-0.23%
Russell 2000
2,975.48
-0.09%
FTSE 100
10,384.80
-0.34%
Nikkei 225
71,987.20
+0.02%

Investing

June Retail Sales Headed for Modest Gain

Photo of Paul Ausick
By Paul Ausick Published

Invalid Image
Retailers will be announcing June same-store sales this week, and industry research firm Retail Metrics is now predicting sales growth of just 1% for the month. The past weekend’s storms on the East Coast and the impact of tropical storm Debby in Florida had marginal impact on the month’s sales, which were already expected to be soft. The most recent projection is down from an earlier forecast of 1.1% growth

Excluding the effects of Walgreen Co.’s (NYSE: WAG) of its Express Scripts Inc. (NASDAQ: ESRX) prescription drug business, projections for department store sales have dropped by 0.6% since the beginning of June to an expected growth of 1.7%. The forecast for Kohl’s Corp. (NYSE: KSS) dropped to -2.5%, while Macy’s Inc. (NYSE: M) is expected to post growth of 2.4% and Nordstrom Inc. (NYSE: JWN) is expected to improve by 0.2% from earlier expectations.

The TJX Companies Inc. (NYSE: TJX) and Ross Stores Inc. (NASDAQ: ROST) forecasts improved by 20 basis points since the end of last week. Other retailers helping to prop up the sector are Michael Kors Holdings Ltd. (NYSE: KORS) and Zumiez Inc. (NASDAQ: ZUMZ).

Weighing the sector down are O’Reilly Automotive Inc. (NASDAQ: ORLY), Bed, Bath & Beyond Inc. (NASDAQ: BBBY), and Abercrombie and Fitch Co. (NYSE: ANF).

Paul Ausick

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Jon C. Ogg |

Preliminary Data Shows Retail Sales Floundering in June

Retail Metrics is out with its preliminary targets on June same-store sales and the report is one of caution.  The…

Paul Ausick |

Projected Retail Q3 Earnings Up Sharply, Q4 Looks Even Better

thinkstockAs third quarter earnings results continue to pour in, overall earnings have been decidedly weaker. According to research firm Retail…

Paul Ausick |

Costco, Other Chain Stores Report Retail Sales for April Tomorrow

ThinkstockSame-store retail sales from many of the country’s largest chains are scheduled to hit the tape tomorrow. Sales in February…

Paul Ausick |

January Same-Store Retail Sales Coming This Week

ThinkstockSame-store sales for January are scheduled to be released this Thursday, and the consensus projection from research firm Retail Metrics…

Paul Ausick |

Retail Sector Gets Slammed (SHLD, KSS, M, JCP, BONT, DDS, SKS)

The S&P Retail Index is down -2% in the late morning today, considerably below the overall DJIA decline of -1.2%,…

Paul Ausick |

March Retail Sales Weaker on Weather and Late Easter

ThinkstockRetailers are announcing March U.S. same-store sales figures Thursday. Research firm Retail Metrics projected an overall gain of 2.5% year-over-year.…

Paul Ausick |

Stein Mart’s March Same-Store Sales Surge

Retailers are announcing March U.S. same-store sales figures Thursday. Research firm Retail Metrics projected an overall gain of 1.1% year-over-year.

Paul Ausick |

May Retail Sales Due Tomorrow from Costco, Other Chain Stores

ThinkstockSame-store retail sales from many of the country’s largest chains are scheduled to hit the tape tomorrow. Sales in March…

Paul Ausick |

June Retail Sales Growth Forecast at 18-Month High

ThinkstockIf the forecast for retail sales growth is accurate, U.S. retail same-store sales will rise 4.9% in June, marking the…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230