SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES OCTOBER 2006


Welcome to the new Global Credit Services "Interactive Graph Interface". This new graph enables the user to plot a company's performance against the best and worst performers in retail over the last two years. The Best of Breed may be a different company each month from those retailers who report monthly comparable store sales. This Interactive Graphing product allows the user to click on any company in the report and that company's results gets charted against the best and worst performers over this time period.

Industry Credit
Rating		 Company YTD Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating		 Apparel Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  14.00  -3.00  0.00  0.00  0
B-  CACHE INC  11.00  11.00  21.30  19.50  9
B+  GYMBOREE CORP  10.00  18.00  73.70  63.10  17
C  CHILDRENS PLACE RETAIL STORES  10.00  13.00  184.80  154.30  20
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  9.00  -4.00  694.80  629.00  10
B+  JOS A BANK CLOTHIERS INC /DE/  8.40  16.20  43.70  37.00  18
A-  BEBE STORES INC  8.20  2.10  47.40  39.10  21
A  AMERICAN EAGLE OUTFITTERS INC  8.00  17.30  186.40  157.00  19
C  WET SEAL INC  7.50  46.60  39.80  36.00  11
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  6.00  -2.00  53.00  50.70  5
C-  UNITED RETAIL GROUP INC/DE  6.00  11.00  37.80  35.40  7
B+  AEROPOSTALE INC  5.60  -2.50  99.20  83.90  18
NR  DRESS BARN  5.00  9.00  113.60  0.00  0
C+  TJX COMPANIES INC  5.00  1.00  1500.00  1320.00  14
B  DRESS BARN INC  5.00  10.00  113.60  103.30  10
B+  CATO CORP  5.00  9.00  59.60  60.30  -1
A-  CHICOS FAS INC  4.10  17.90  125.30  114.00  10
A-  CITI TRENDS INC  4.00    26.00    0
A-  ABERCROMBIE & FITCH CO  3.00  31.00  216.80  189.20  15
B-  ROSS STORES INC  3.00  7.00  438.00  402.00  9
NR  BANANA REPUBLIC INC/THE GAP INC  2.00  -8.00  0.00  0.00  0
A  BUCKLE INC,THE  1.70  4.30  41.50  39.20  6
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  1.70  1.70  47.50  48.20  -1
NR  EXPRESS INC/LIMITED BRANDS  1.00  -9.00  0.00  0.00  0
C-  CASUAL MALE RETAIL GROUP INC/FKA DESIGNS INC  0.00    0.00    0
B-  ANNTAYLOR STORES CORP  -0.50  1.20  184.80  175.90  5
C-  STEIN MART INC  -2.20  1.40  112.10  112.80  -1
C  FREDS INC  -2.50  2.50  124.90  121.80  3
NR  GAP INC  -4.00  -3.00  0.00  0.00  0
C  S & K FAMOUS BRANDS INC  -5.70  -1.40  14.10  14.70  -4
B  GAP INC,THE  -7.00  -5.00  1250.00  1280.00  -2
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  -7.10  7.90  88.20  88.00  0
C+  HOT TOPIC INC  -7.20  -5.70  60.00  59.50  1
A-  DEB SHOPS INC  -10.00  12.80  24.10  25.90  -7
NR  OLD NAVY/THE GAP INC  -11.00  -6.00  0.00  0.00  0
E  WILSONS THE LEATHER EXPERTS INC  -13.50  -17.40  25.00  29.90  -16

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
F  SHARPER IMAGE CORP  -17.00  -18.00  38.10  45.90  -17

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
B-  NORDSTROM INC  10.70  6.40  622.40  556.20  12
C-  SAKS INC/FKA PROFFITTS INC  9.20  4.60  232.80  436.70  -47
B-  JC PENNEY CO INC  8.10  2.40  1538.00  1405.00  9
C-  MACYS INC (FKA FEDERATED DPT STORES)  7.70  -0.70  1863.00  2138.00  -13
A-  KOHLS CORP  4.20  6.20  1246.90  1119.60  11
E  GOTTSCHALKS INC  1.40  0.60  44.20  44.00  0
NR  VALUE CITY DEPARTMENT STORE  0.00  5.70  0.00  112.90  -100
B-  STAGE STORES INC  -2.50  14.90  103.60  96.30  8
E+  BON TON STORES INC  -3.00  -4.10  249.70  94.70  164
D  DILLARDS INC-HQ  -5.00  8.00  474.00  488.30  -3
NR  BON TON,THE  -9.70  -4.10  0.00  94.70  -100

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
B  WALGREEN COMPANY INC  11.40  6.50  4314.00  3649.80  18
B-  CVS/CAREMARK CORPORATION  9.30  5.60  3500.00  2800.00  25
E+  RITE AID CORP  4.00  1.10  1318.00  1265.00  4

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  4.00  4.00  212.50  212.50  0
C-  SHOE CARNIVAL INC  0.00  21.20  0.00  49.80  -100

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  12.40  0.60  50.10  41.70  20
C-  HAVERTY FURNITURE COMPANIES  -10.10  0.60  63.50  68.70  -8
E  PIER 1 IMPORTS INC  -13.70  -10.10  114.10  136.90  -17

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
B  BIG LOTS INC /FKA CONSOLIDATED STORES INC  5.80  1.30  1031.00  333.10  210
B-  COSTCO WHOLESALE CORP  4.00  10.00  459.00  4260.00  -89
B-  TARGET CORP  3.90  5.70  4054.00  3694.00  10
D  DUCKWALL ALCO STORES INC  3.90  4.20  34.20  32.20  6
C+  BJS WHOLESALE CLUB  2.90  2.90  602.60  588.30  2
C-  COST U LESS INC  2.50  -4.10  16.40  15.90  3
NR  SAMS CLUB  2.00  6.70  3110.00  3073.00  1
D  DOLLAR GENERAL CORP  1.90  0.40  683.90  639.90  7
B-  FAMILY DOLLAR STORES INC  1.00  3.10  480.90  451.50  7
B-  WAL MART STORES INC  0.50  4.30  25710.00  23255.00  11
11  AMAZING SAVINGS INC (FKA ODD JOB STORES INC) DIP #05-10171  0.00    0.00    0

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -3.20  3.30  180.40  22.10  716

Credit
Rating		 Sporting Goods Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
0  ZUMIEZ INC  15.90    19.90    0

Credit
Rating		 Specialty Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Oct Prior Year Oct Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  14.00  2.00  0.00  0.00  0
D-  IPARTY CORP  4.10  -1.10  17.50  16.30  7
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -1.40  -6.30  34.30  36.90  -7
D+  JO ANN STORES INC  -6.40  3.40  167.90  174.60  -4



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
SG    0 ZUMIEZ INC 15.9 
SR    NR BATH & BODY WORKS/LIMITED BRANDS 14.0 
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS 14.0 
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 12.4 
DR    B WALGREEN COMPANY INC 11.4 
APP    B- CACHE INC 11.0 
DEP    B- NORDSTROM INC 10.7 
APP    B+ GYMBOREE CORP 10.0 
APP    C CHILDRENS PLACE RETAIL STORES 10.0 
DR    B- CVS/CAREMARK CORPORATION 9.3 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS 14.0 - 3.0
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS 9.0 - 4.0
SR    NR BATH & BODY WORKS/LIMITED BRANDS 14.0 2.0
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 12.4 0.6
APP    NR EXPRESS INC/LIMITED BRANDS 1.0 - 9.0
APP    NR BANANA REPUBLIC INC/THE GAP INC 2.0 - 8.0
DEP    C- MACYS INC (FKA FEDERATED DPT STORES) 7.7 - 0.7
APP    B+ AEROPOSTALE INC 5.6 - 2.5
APP    B+ CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS 6.0 - 2.0
MM    C- COST U LESS INC 2.5 - 4.1


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 17.0 
HF    E PIER 1 IMPORTS INC - 13.7 
APP    E WILSONS THE LEATHER EXPERTS INC - 13.5 
APP    NR OLD NAVY/THE GAP INC - 11.0 
HF    C- HAVERTY FURNITURE COMPANIES - 10.1 
APP    A- DEB SHOPS INC - 10.0 
DEP    NR BON TON,THE - 9.7 
APP    C+ HOT TOPIC INC - 7.2 
APP    C+ PACIFIC SUNWEAR OF CALIFORNIA INC - 7.1 
APP    B GAP INC,THE - 7.0 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    C WET SEAL INC 7.5 46.6
APP    A- ABERCROMBIE & FITCH CO 3.0 31.0
APP    A- DEB SHOPS INC - 10.0 12.8
FW    C- SHOE CARNIVAL INC 0.0 21.2
DEP    B- STAGE STORES INC - 2.5 14.9
APP    C+ PACIFIC SUNWEAR OF CALIFORNIA INC - 7.1 7.9
APP    A- CHICOS FAS INC 4.1 17.9
DEP    D DILLARDS INC-HQ - 5.0 8.0
HF    C- HAVERTY FURNITURE COMPANIES - 10.1 0.6
SR    D+ JO ANN STORES INC - 6.4 3.4


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 15.9  2.0  - 17.0 
APP Apparel Stores 14.0  2.0  - 13.5 
CE Consumer Electronics - 17.0  - 17.0  - 17.0 
DEP Dept Stores & Catalogs 10.7  1.9  - 9.7 
DR Drug Stores 11.4  8.2  4.0 
FW Footwear Retail 4.0  2.0  0.0 
HF Home Furnishings 12.4  - 3.8  - 13.7 
MM Mass Merchandisers-Retail 5.8  2.6  0.0 
RET Other Retail Stores - 3.2  - 3.2  - 3.2 
SR Specialty Retail 14.0  2.6  - 6.4 
SG Sporting Goods Retail 15.9  15.9  15.9 


Industry Performance

October results were weak overall. 57% of public companies tracked by analysts missed expectations while 43% exceeded. The apparel, department stores, drug stores and home furnishings industries had comps that reflected successful the clean up of back to school inventory and strong fall sales as the weather cooled. Mass Merchants lagged, with Walmart posting just a 0.5% increase. November is expected to be strong as the consumer continues to drive this expanding economy.



COMPARABLE STORE SALES REPORT

Global Credit Services' Comparable Store Sales Report focuses on macro consumer economic pattern in combination with insightful commentary. We include our proprietary rating for each company as an additional criterion to aid subscribers' assessments.

The Comparable Store Sales Report is comprised of six sections:
Top 10 Retailers
Rising stars - Most Improved
Bottom 10 Retailers
Falling Stars - Sharpest Decline
Industry Comp Performance
Alphabetic list of retail sales performances and comps

Proprietary Rating Definitions:
A - Requirements
B - Low Risk
C - Moderate Risk
D - Moderately High Risk
E - High Risk
F - Distressed Company

Methodology:
Multiple operating units of a company are reported separately as well as on a consolidated basis. Each operating unit references its parent.

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