With Macy's (NYSE:M), Target (NYSE:TGT), BJ's Wholesale Club (NYSE:BJ), Costco (Nasdaq:COST), Kohl's (NYSE:KSS), Stage Stores (NYSE:SSI), J.C. Penney (NYSE:JCP), Saks (NYSE:SKS) and Nordstrom (NYSE:JWN) all reporting March sales today, shareholders and investors have jitters over the narrative that will probably emerge; one that most won't like for some of these companies.
On the positive side, Costco and BJ's Wholesale Club should generate improvements in same-store sales, based on getting more benefits from higher gas prices. Macy's and Nordstrom may also turn in a good quarter.
Barclays said, "Ahead of these results, we are raising our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index estimate for March to (0.8)% from (2.1)% compared with an 11.3% increase last year. The increase in our index is attributable to our expectations for higher comps for Costco and BJ's Wholesale Club, due to a larger benefit from gas prices, as well as our expectations for continued solid momentum at Macy's and Nordstrom, despite the Easter shift. We are raising our estimate for Costco to 6%-8% from 3%-5%, our estimate for BJ's to 0%-2% from (1)%-1%, our estimate for Macy's to (1)%-(3)% from (2)%-(4)%, and our estimate for Nordstrom to 1%-3% from (2)%-(4)%."
Concerning April, the optimism fades though. "We believe overall sales were solid in March; however, we expect the shift of Easter into April out of March, as well as tough comparisons last year, to have a negative impact on this month's results...We are maintaining our estimate for an 11.8% increase in our index in April," Barclays concluded.
It seems the reports will be a mixed bag, as Bed Bath & Beyond may have stolen some business from Target, and there could be some other surprises in there.
Thursday, April 7, 2011
Jitters Over (TGT) (BJ) (COST) (KSS) (JCP) (SKS) (JWN) (M) (SSI) March Sales Report
Labels:
BJs Wholesale,
Costco Wholesale,
JC Penny,
Kohls,
Macy's,
Nordstrom,
Saks,
Stage Stores,
Target
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