Retailers, consumers and prices
Check Out Line: Retail earnings optimism
Check out things looking a little better in retail?
Ann Taylor raised its forecast for first-quarter earnings, citing improved results at its LOFT chain and stronger expense control.
This comes a few days after many retailers posted better-than-expected sales in April and could mark the start of a trend.
Goldman Sachs said the better April could lead to modest first-quarter earnings beats.
“This will be particularly evident across the department store sub sector as most management teams reduced their earnings outlook post March results, which fell short of plan. Kohl’s has already kick started this trend stating EPS would ‘exceed’ previous 40 cents to 42 cents guidance. We suspect J.C. Penney will follow suit, beating management’s 50-cent forecast … given high end of plan sales,” Goldman said in a research note.
Retail earnings get going in earnest this week with reports from Wal-Mart, Macy’s, J.C. Penney and others.
Also in the basket:
April retail sales barely budged: SpendingPulse
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