Giving retailers an A for effort in August would be
waytoo kind. Back-to-school shopping should be a
boon for retailers, but not this year. Despite some
better-than-expected August same-store sales data, the sector
and its cash registers remain eerily quiet.
Not adding up to much
Overall, same-store sales fell 2.9% in August, the 12th
consecutive monthly decline. That figure did beat analysts'
expectations for a 3.8% decline, but it's no cause for
celebration.
Let's take a look at some specific retailers' sales data
for August.
Company Name
CAPS Rating
August Comps
August Net Sales
Costco (Nasdaq: COST)
****
(2%)
Flat
Gap (NYSE: GPS)
*
(3%)
(2%)
Abercrombie & Fitch (NYSE:
ANF)
**
(29%)
(23%)
Target (NYSE: TGT)
***
(2.9%)
0.1%
Aeropostale (NYSE: ARO) Continued... |