I would say it somewhat relates to this article, retail across the board is weak today....anything under $40 is still a great buy....
Retailers, slated to announce their critical December same-store sales on Thursday, will probably show unsatisfactory results due to factors including decreasing consumer confidence tied to Washington’s fiscal-cliff ambiguity, analysts stated Monday.
The dampened attitude is cutting into forecasts across the discount, department-store and apparel divisions. Among individual retailers, analysts have trimmed consensus estimates on The Gap Inc.(NYSE:GPS), Kohl’s Corporation (NYSE:KSS) and Macy’s, Inc.(NYSE:M) as well as Limited Brands, Inc.(NYSE:LTD), the parent of Victoria’s Secret and TJ Maxx parent The TJX Companies, Inc.(NYSE:TJX), Retail Metrics figures exhibited.
In the meantime, electronics retailer Best Buy Co., Inc.(NYSE:BBY), facing the prospect of a takeover pending its holiday sales results, was likely to announce a 3% Q4 decline, Retail Metrics data revealed.
Still, while sales may have suffered a hindrance, analysts stated that better inventory control and typically intended promotions in the season, coupled with lesser cotton costs, are expected going to keep retailers’ profit margin generally intact.
Analysts have as well trimmed their forecasts on discounter Target Corporation(NYSE:TGT), following the firm’s much-touted designer collection in alliance with luxury retailer Neiman Marcus remained unsuccessful to produce projected demand. Target marked the assortment off by 50% just almost three weeks later than the release at the beginning of December.
Analysts as well stated that Target’s P-Fresh extended food variety and 5% discount given on its Target card purchases delivered less of a boost during the holiday period as spending is more leaned toward non-necessary things during the holidays.
Robert W. Baird & Co. analyst Peter Benedict stated that they anticipate Target’s sales stayed lethargic in aggregate over the holidays amidst a competitive environment