SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES SEPTEMBER 2005


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
Sep Prior Year Sep Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
C  WET SEAL INC  44.90  -8.00  47.90  41.40  16
D+  VANITY SHOPS OF GRAND FORKS INC  29.12    9.40    0
A-  ABERCROMBIE & FITCH CO  21.00  2.00  228.30  174.70  31
A-  CHICOS FAS INC  15.80  5.20  143.10  106.40  34
A-  DEB SHOPS INC  13.50  0.90  25.60  22.40  14
A  AMERICAN EAGLE OUTFITTERS INC  13.00  22.70  183.80  161.50  14
B+  JOS A BANK CLOTHIERS INC /DE/  12.90  3.90  40.30  32.10  26
A-  BEBE STORES INC  12.30  17.60  48.60  40.00  22
B+  GYMBOREE CORP  10.00  4.00  67.30  62.90  7
B-  ROSS STORES INC  9.00  -5.00  446.00  374.00  19
B  CLAIRES STORES INC  8.00  10.00  116.40  105.88  10
NR  CATHERINES INC/CHARMING SHOPPES  8.00  -9.00  0.00  0.00  0
B-  CACHE INC  6.00  -2.00  24.80  21.70  14
B  DRESS BARN INC  6.00  6.00  120.30  80.40  50
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  5.30  9.80  113.70  98.90  15
B+  MENS WEARHOUSE INC,THE  5.20  1.90  151.60  140.00  8
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  5.00  -24.00  0.00  0.00  0
C-  UNITED RETAIL GROUP INC/DE  4.00  6.00  36.90  36.00  2
C-  CHARMING SHOPPES INC  3.00  -2.00  250.70  205.60  22
B-  BURLINGTON COAT FACTORY WAREHOUSE CORP  2.80  -1.30  0.00  0.00  0
C  CHILDRENS PLACE RETAIL STORES  2.00  12.00  160.70  105.80  52
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  1.90  -8.90  45.50  39.80  14
B+  CATO CORP  1.00  1.00  62.50  59.00  6
C+  TJX COMPANIES INC  0.00  1.00  1500.00  1400.00  7
C  GOODYS FAMILY CLOTHING INC  -0.80  -9.10  93.50  94.30  -1
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  -1.00  -7.00  35.30  31.70  11
C  FREDS INC  -1.40  4.30  145.30  135.20  7
A  BUCKLE INC,THE  -1.40  0.30  44.70  43.40  3
NR  EXPRESS INC/LIMITED BRANDS  -2.00  -26.00  0.00  0.00  0
C+  LIMITED BRANDS INC  -2.00  -5.00  687.30  679.30  1
B-  ANNTAYLOR STORES CORP  -2.70  1.40  204.00  187.67  9
B  GAP INC,THE  -3.00  -1.00  1410.00  1450.00  -3
C-  STEIN MART INC  -3.90  5.20  125.60  128.70  -2
B+  AEROPOSTALE INC  -4.20  1.90  104.30  90.60  15
D-  TALBOTS INC  -5.10  -1.30  185.90  187.50  -1
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -6.00  13.00  0.00  0.00  0
NR  GAP INC  -6.00  -1.00  0.00  0.00  0
E  WILSONS THE LEATHER EXPERTS INC  -6.60  3.70  27.30  30.20  -10
NR  OLD NAVY/THE GAP INC  -7.00  -6.00  0.00  0.00  0
NR  BANANA REPUBLIC INC/THE GAP INC  -7.00  6.00  0.00  0.00  0

Credit
Rating
Consumer Electronics Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
11  HARVEY ELECTRONICS INC  0.00    0.00    0
F  SHARPER IMAGE CORP  -21.00  2.00  36.60  46.40  -21

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
C-  NEIMAN MARCUS INC  9.60  6.30  397.00  365.00  9
NR  TARGET STORES  5.60    4306.00    0
NR  LANE BRYANT INC  5.00  5.00  0.00  0.00  0
B-  NORDSTROM INC  4.10  6.20  636.70  598.40  6
C-  SAKS INC/FKA PROFFITTS INC  3.20  -4.00  512.50  569.30  -10
B-  JC PENNEY CO INC  1.40  2.00  1505.00  1255.00  20
C-  MACYS INC (FKA FEDERATED DPT STORES)  1.30  0.10  2580.00  1349.00  91
A-  KOHLS CORP  -0.20  -1.30  992.30  904.10  10
E  GOTTSCHALKS INC  -0.50  6.00  57.70  56.80  2
D  DILLARDS INC-HQ  -1.00  0.01  670.20  688.84  -3
D  GORDMANS INC  -1.90  -1.50  0.00  0.00  0
B-  STAGE STORES INC  -2.60  2.50  98.50  97.80  1
NR  VALUE CITY DEPARTMENT STORE  -4.80  -9.70  118.50  124.73  -5
NR  SHOPKO STORES  -4.90  -1.60  183.00  192.90  -5
E+  BON TON STORES INC  -7.80  -0.10  105.80  114.80  -8

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
B  WALGREEN COMPANY INC  7.70  9.30  3514.40  3168.30  11
B-  CVS/CAREMARK CORPORATION  5.70  6.10  3500.00  3280.00  7
C-  LONGS DRUG STORES CORP  1.30  1.70  431.00  423.90  2
E+  RITE AID CORP  1.10  2.00  1269.00  1265.00  0
C-  JEAN COUTU GROUP (PJC) INC  -1.70    0.00    0

Credit
Rating
Footwear Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
C-  SHOE CARNIVAL INC  6.50  -1.90  51.10  46.30  10
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  -0.60  -6.50  235.70  250.20  -6

Credit
Rating
Home Furnishings Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
C-  HAVERTY FURNITURE COMPANIES  6.50    67.10    0
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  -1.60  -20.00  46.70  48.30  -3
E  PIER 1 IMPORTS INC  -10.60  -3.90  162.20  175.60  -8

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
B-  PRICESMART INC  20.20  6.80  51.90  47.40  9
B-  COSTCO WHOLESALE CORP  11.00  8.00  5140.00  4530.00  13
NR  SAMS CLUB  9.80  4.50  3789.00  3394.00  12
C-  COST U LESS INC  9.20  10.40  20.70  19.30  7
B-  TARGET CORP  5.60  5.60  4306.00  3866.00  11
C+  BJS WHOLESALE CLUB  3.80  8.30  735.90  676.78  9
B-  WAL MART STORES INC  3.80  2.40  28242.00  25739.00  10
B  BIG LOTS INC /FKA CONSOLIDATED STORES INC  2.90  -2.10  385.30  357.60  8
B-  FAMILY DOLLAR STORES INC  2.60  1.50  557.90  510.60  9
D  DOLLAR GENERAL CORP  2.50  4.20  794.00  717.50  11
D  DUCKWALL ALCO STORES INC  1.80  1.10  37.60  38.10  -1
E+  RETAIL VENTURES INC/ FKA VALUE CITY DEPARTMENT STORES IN  -2.00  -7.30  269.10  258.50  4
NR  PAMIDA HOLDINGS CORP  -3.90  0.10  67.70  70.00  -3
E  SKO GROUP HOLDINGS CORP F/K/A/SHOPKO STORES INC  -4.60  -1.20  250.70  262.90  -5

Credit
Rating
Other Retail Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -0.40  -1.20  19.40  18.90  3

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
D  WEST MARINE INC  -1.20  -6.50  188.60  54.50  246

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Sep Prior Year Sep Prior Year
D+  JO ANN STORES INC  0.20  0.00  176.10  167.30  5
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -6.30  -8.70  37.60  40.00  -6



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    C WET SEAL INC 44.9 
APP    D+ VANITY SHOPS OF GRAND FORKS INC 29.1 
APP    A- ABERCROMBIE & FITCH CO 21.0 
MM    B- PRICESMART INC 20.2 
APP    A- CHICOS FAS INC 15.8 
APP    A- DEB SHOPS INC 13.5 
APP    A AMERICAN EAGLE OUTFITTERS INC 13.0 
APP    B+ JOS A BANK CLOTHIERS INC /DE/ 12.9 
APP    A- BEBE STORES INC 12.3 
MM    B- COSTCO WHOLESALE CORP 11.0 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
APP    C WET SEAL INC 44.9 - 8.0
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS 5.0 - 24.0
APP    NR EXPRESS INC/LIMITED BRANDS - 2.0 - 26.0
APP    A- ABERCROMBIE & FITCH CO 21.0 2.0
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 - 1.6 - 20.0
APP    NR CATHERINES INC/CHARMING SHOPPES 8.0 - 9.0
APP    B- ROSS STORES INC 9.0 - 5.0
MM    B- PRICESMART INC 20.2 6.8
APP    A- DEB SHOPS INC 13.5 0.9
APP    E+ MOTHERS WORK INC / MOTHERHOOD MATERNITY 1.9 - 8.9


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
CE    F SHARPER IMAGE CORP - 21.0 
HF    E PIER 1 IMPORTS INC - 10.6 
DEP    E+ BON TON STORES INC - 7.8 
APP    NR OLD NAVY/THE GAP INC - 7.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 7.0 
APP    E WILSONS THE LEATHER EXPERTS INC - 6.6 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 6.3 
APP    NR GAP INC - 6.0 
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 6.0 
APP    D- TALBOTS INC - 5.1 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
CE    F SHARPER IMAGE CORP - 21.0 2.0
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 6.0 13.0
APP    NR BANANA REPUBLIC INC/THE GAP INC - 7.0 6.0
APP    E WILSONS THE LEATHER EXPERTS INC - 6.6 3.7
APP    C CHILDRENS PLACE RETAIL STORES 2.0 12.0
APP    A AMERICAN EAGLE OUTFITTERS INC 13.0 22.7
APP    C- STEIN MART INC - 3.9 5.2
DEP    E+ BON TON STORES INC - 7.8 - 0.1
HF    E PIER 1 IMPORTS INC - 10.6 - 3.9
DEP    E GOTTSCHALKS INC - 0.5 6.0


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
44.9  2.8  - 21.0 
APP Apparel Stores 44.9  4.5  - 7.0 
CE Consumer Electronics 0.0  - 10.5  - 21.0 
DEP Dept Stores & Catalogs 9.6  0.4  - 7.8 
DR Drug Stores 7.7  2.8  - 1.7 
FW Footwear Retail 6.5  3.0  - 0.6 
HF Home Furnishings 6.5  - 1.9  - 10.6 
MM Mass Merchandisers-Retail 20.2  4.5  - 4.6 
RET Other Retail Stores - 0.4  - 0.4  - 0.4 
SR Specialty Retail 0.2  - 3.1  - 6.3 
SG Sporting Goods Retail - 1.2  - 1.2  - 1.2 


Industry Performance

Consumers voices were heard above the din of raging hurricanes as they reeled in discretionary spending to feed the gas pump. Confidence fell as the waters rose across the gulfcoast shoreline and levees were breached flooding whole cities and creating American refugees. Consumer Electronics was the clearest barometer of this phenomenen as their typically big ticket items were left in favor of sprucing up wardrobes right down to their shoes in an effort to welcome a new season and look to better tomorrows. Drug Stores continue to be locked in competition with Super Markets as each registers higher presciption, health and beauty aid sales. Mass Merchants garnered a stronger showing as they continue to stress value, which is the consumer's battle cry. All in all the retail sector vies for customer traffic as consumers question the merit of gulping gallons when a clear destination is not mandated...no more let's just go for a drive. The consumer comprises the majority of the GNP and keeping them wanting is key to our economic future. We await the extent of their "spree" this upcoming Holiday season, which is for many retailers the determinant of how well this year will turn out.



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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