The Big Picture - Macro Perspective on the Capital Markets, Economy, Technology, and Digital Media

Quick overview of some of today’s December Retail data:

Wal-Mart cut fiscal Q4 earnings target about 10% from $1.03-07 to 91-94 cents

Costco posted a 4% drop in December same-store sales.

Family Dollar gained 8%; Same store sales gained 6%;

BJ’s Wholesale struggled in December, with 1.6% growth the lowest in a year.

Sears Holdings (the largest U.S. department-store) sales fell 7.3%

Target same-store sales fell 4.1%;

Macy’s December sales fell 4%;

Gap stores sales fell 14%;

Abercrombie & Fitch fell -24%;

Neiman Marcus reported a 28% drop off;

Limited Brands reported a 10% drop;

No real surprises in the group . . .

>

Sources:
Retailers Have Not-So-Merry Holidays
KEVIN KINGSBURY
WSJ, JANUARY 8, 2009
http://online.wsj.com/article/SB123141458177764035.html

Wal-Mart Leads Retailers in Slashing Profit Forecasts
Heather Burke
Bloomberg, Jan. 8 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNiimhS3eAcM&