SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES MARCH 2008


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
Mar Prior Year Mar Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
A  BUCKLE INC,THE  20.90  10.70  63.60  49.40  29
B+  AEROPOSTALE INC  2.50  15.90  141.80  124.80  14
C  FREDS INC  1.20  4.40  178.30  172.20  4
B-  CACHE INC  0.00  0.01  29.40  29.10  1
B-  TJX COMPANIES INC  0.00  6.00  1730.00  1700.00  2
B-  ROSS STORES INC  -2.00  6.00  633.00  599.00  6
D-  CHILDRENS PLACE RETAIL STORES  -3.00  7.00  160.10  204.70  -22
B-  HOT TOPIC INC  -3.50  3.40  63.70  63.30  1
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  -6.00  3.60  54.60  59.10  -8
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -6.00  8.00  0.00  0.00  0
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  -8.00  14.10  115.30  140.30  -18
C+  LIMITED BRANDS INC  -8.00  8.00  -733.20  892.30  -182
NR  BANANA REPUBLIC INC/THE GAP INC  -8.00  8.00  0.00  0.00  0
B+  CATO CORP  -9.00  7.00  89.20  95.10  -6
A-  ABERCROMBIE & FITCH CO  -10.00  7.00  330.20  331.20  -0
C  WET SEAL INC  -10.80  10.90  58.10  57.60  1
A  AMERICAN EAGLE OUTFITTERS INC  -12.00  20.00  267.30  201.60  33
NR  GAP INC  -14.00  4.00  0.00  0.00  0
C-  STEIN MART INC  -17.10  8.00  138.60  162.50  -15
B  GAP INC,THE  -18.00  6.00  1370.00  1560.00  -12
B+  CHICOS FAS INC  -20.70  5.20  162.10  191.20  -15
NR  OLD NAVY/THE GAP INC  -27.00  10.00  0.00  0.00  0

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
C+  NORDSTROM INC  9.10  15.00  750.00  803.20  -7
E+  BON TON STORES INC  -5.30  -3.80  274.00  288.00  -5
D  DILLARDS INC-HQ  -10.00  6.00  621.70  679.60  -9
B-  JC PENNEY CO INC  -10.30  10.60  15538.00  1440.00  979
B-  STAGE STORES INC  -10.30  12.40  141.10  151.00  -7
E  GOTTSCHALKS INC  -15.40  6.40  49.10  58.90  -17
B  KOHLS CORP  -15.50  16.80  1425.70  1580.00  -10

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
B  WALGREEN COMPANY INC  4.40  8.00  5111.00  4610.00  11
E+  RITE AID CORP  2.60  3.30  2044.00  1356.00  51

Credit
Rating
Home Furnishings Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
C-  HAVERTY FURNITURE COMPANIES  -9.80    62.00    0

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
C  BJS WHOLESALE CLUB  6.00  3.10  858.10  790.80  9
NR  SAMS CLUB  2.10  7.30  4287.00  4160.00  3
B-  TARGET CORP  1.50  12.00  5676.00  5600.00  1
B-  WAL MART STORES INC  1.10  4.00  36973.00  34260.00  8
B-  FAMILY DOLLAR STORES INC  -4.40  5.80  641.20  651.40  -2
D  DUCKWALL ALCO STORES INC  -5.60  7.10  43.10  42.90  0

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
0  ZUMIEZ INC  -3.00  17.00  31.50  28.30  11

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Mar Prior Year Mar Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  -13.00  15.00  0.00  0.00  0



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    A BUCKLE INC,THE 20.9 
DEP    C+ NORDSTROM INC 9.1 
MM    C BJS WHOLESALE CLUB 6.0 
DR    B WALGREEN COMPANY INC 4.4 
DR    E+ RITE AID CORP 2.6 
APP    B+ AEROPOSTALE INC 2.5 
MM    NR SAMS CLUB 2.1 
MM    B- TARGET CORP 1.5 
APP    C FREDS INC 1.2 
MM    B- WAL MART STORES INC 1.1 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
APP    A BUCKLE INC,THE 20.9 10.7
MM    C BJS WHOLESALE CLUB 6.0 3.1
APP    B- CACHE INC 0.0 0.0
DR    E+ RITE AID CORP 2.6 3.3
DEP    E+ BON TON STORES INC - 5.3 - 3.8
MM    B- WAL MART STORES INC 1.1 4.0
APP    C FREDS INC 1.2 4.4
DR    B WALGREEN COMPANY INC 4.4 8.0
MM    NR SAMS CLUB 2.1 7.3
DEP    C+ NORDSTROM INC 9.1 15.0


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    NR OLD NAVY/THE GAP INC - 27.0 
APP    B+ CHICOS FAS INC - 20.7 
APP    B GAP INC,THE - 18.0 
APP    C- STEIN MART INC - 17.1 
DEP    B KOHLS CORP - 15.5 
DEP    E GOTTSCHALKS INC - 15.4 
APP    NR GAP INC - 14.0 
SR    NR BATH & BODY WORKS/LIMITED BRANDS - 13.0 
APP    A AMERICAN EAGLE OUTFITTERS INC - 12.0 
APP    C WET SEAL INC - 10.8 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
APP    NR OLD NAVY/THE GAP INC - 27.0 10.0
DEP    B KOHLS CORP - 15.5 16.8
APP    A AMERICAN EAGLE OUTFITTERS INC - 12.0 20.0
SR    NR BATH & BODY WORKS/LIMITED BRANDS - 13.0 15.0
APP    B+ CHICOS FAS INC - 20.7 5.2
APP    C- STEIN MART INC - 17.1 8.0
APP    B GAP INC,THE - 18.0 6.0
DEP    B- STAGE STORES INC - 10.3 12.4
APP    C+ PACIFIC SUNWEAR OF CALIFORNIA INC - 8.0 14.1
DEP    E GOTTSCHALKS INC - 15.4 6.4


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
20.9  - 5.9  - 27.0 
APP Apparel Stores 20.9  - 7.2  - 27.0 
DEP Dept Stores & Catalogs 9.1  - 8.2  - 15.5 
DR Drug Stores 4.4  3.5  2.6 
HF Home Furnishings - 9.8  - 9.8  - 9.8 
MM Mass Merchandisers-Retail 6.0  0.1  - 5.6 
SR Specialty Retail - 13.0  - 13.0  - 13.0 
SG Sporting Goods Retail - 3.0  - 3.0  - 3.0 


Industry Performance

This year it appears that the Easter Bunny stayed inside to contemplate current economic conditions. Retailers reported the weakest March results in 13 years, blaming mounting economic problems and a cold Easter holiday, which appears to have limited consumers' shopping to food and basic essentials. Consumers are seeking value for their dollar and they seem to be holding onto their greenbacks tighter. With gas prices rising and job security declining, discount retailers, particularly at Wal Mart, and wholesale clubs seemed to be the main survivors. It appears that consumers disagree with the current Bush administration, which believes that growth is on the horizon, and are bracing for a continued recession, with many planning on using their stimulus checks to pay down debt and not for more shopping. As April begins, the situation does not appear to be any better. A deteriorating economy, soaring food and gas prices, limited credit and slumping home prices will continue to put pressure on retailers, especially ones that cater to discretionary spending.



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.


Copyright 2008 © Global Credit Services, Inc. All Rights Reserved www.globalcreditservices.com By using this site you accept Terms and Conditions of Service.