SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES DECEMBER 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
Dec Prior Year Dec Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
A  BUCKLE INC,THE  13.50  18.70  131.20  108.50  21
B+  AEROPOSTALE INC  12.00  12.00  392.70  313.50  25
B-  HOT TOPIC INC  4.30  -6.20  131.90  123.10  7
B-  ROSS STORES INC  0.01  3.00  802.00  755.00  6
C+  FREDS INC  0.00  -1.80  201.60  209.80  -4
B-  CATO CORP  -2.00  -8.00  96.10  94.60  2
E  STEIN MART INC  -8.50  -5.70  178.00  196.30  -9
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -9.00  -8.00  0.00  0.00  0
C-  LIMITED BRANDS INC  -10.00  -8.00  1644.00  1744.00  -6
E  PACIFIC SUNWEAR OF CALIFORNIA INC  -10.00  -2.80  196.00  214.40  -9
NR  GAP INC  -12.00  -6.00  0.00  0.00  0
C+  CHICOS FAS INC  -12.40  -13.70  163.40  181.60  -10
B-  WET SEAL INC  -12.50  0.60  77.20  86.00  -10
B-  GAP INC,THE  -14.00  -9.00  1930.00  2200.00  -12
NR  BANANA REPUBLIC INC/THE GAP INC  -15.00  -1.00  0.00  0.00  0
NR  OLD NAVY/THE GAP INC  -16.00  -8.00  0.00  0.00  0
B+  AMERICAN EAGLE OUTFITTERS  -17.00  -2.00  493.50  546.10  -10
C+  CACHE INC  -19.00  -10.00  29.10  35.70  -18
B+  ABERCROMBIE & FITCH CO  -24.00  -2.00  539.20  657.00  -18

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
B-  KOHLS CORP  -1.40  -11.40  2769.00  2672.90  4
D  MACYS INC (FKA FEDERATED DPT STORES)  -4.00  -7.90  4614.00  4614.00  0
D  STAGE STORES INC  -4.90  -7.10  257.00  260.30  -1
D-  DILLARDS INC-HQ  -5.00  -5.00  1100.00  1167.00  -6
E-  BON TON STORES INC  -5.80  -11.30  527.20  558.20  -6
C-  JC PENNEY CO INC  -8.10  -7.30  2961.00  2819.00  5
F  GOTTSCHALKS INC  -9.60  -13.80  99.80  112.80  -12
C-  NORDSTROM INC  -10.60  -4.00  1130.00  1200.00  -6
E  SAKS INC/FKA PROFFITTS INC  -19.80  0.80  363.30  447.70  -19

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
B-  WALGREEN COMPANY INC  4.90  2.60  6197.30  5511.90  12
E  RITE AID CORP  -0.20  -0.50  2155.00  2201.00  -2

Credit
Rating
Home Furnishings Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
E  PIER 1 IMPORTS INC  0.00  1.30  0.00  233.40  -100

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
C+  FAMILY DOLLAR STORES INC  6.00  -0.70  632.12  816.60  -23
C+  BJS WHOLESALE CLUB  1.60  3.00  1060.00  1029.00  3
B-  WAL MART STORES INC  1.20  2.70  46509.00  46574.00  -0
NR  SAMS CLUB  -3.20  3.40  4834.00  4938.00  -2
B-  COSTCO WHOLESALE CORP  -4.00  7.00  7400.00  7550.00  -2
B-  TARGET CORP  -4.10  -5.00  9280.00  9262.00  0
D-  DUCKWALL ALCO STORES INC  -6.30  -0.50  67.20  71.30  -6

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
A  ZUMIEZ INC  -12.30  3.90  72.00  72.00  0

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Dec Prior Year Dec Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  -11.00  -8.00  0.00  0.00  0



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    A BUCKLE INC,THE 13.5 
APP    B+ AEROPOSTALE INC 12.0 
MM    C+ FAMILY DOLLAR STORES INC 6.0 
DR    B- WALGREEN COMPANY INC 4.9 
APP    B- HOT TOPIC INC 4.3 
MM    C+ BJS WHOLESALE CLUB 1.6 
MM    B- WAL MART STORES INC 1.2 
APP    B- ROSS STORES INC 0.0 
HF    E PIER 1 IMPORTS INC 0.0 
APP    C+ FREDS INC 0.0 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
APP    B- HOT TOPIC INC 4.3 - 6.2
DEP    B- KOHLS CORP - 1.4 - 11.4
MM    C+ FAMILY DOLLAR STORES INC 6.0 - 0.7
APP    B- CATO CORP - 2.0 - 8.0
DEP    E- BON TON STORES INC - 5.8 - 11.3
DEP    F GOTTSCHALKS INC - 9.6 - 13.8
DEP    D MACYS INC (FKA FEDERATED DPT STORES) - 4.0 - 7.9
DR    B- WALGREEN COMPANY INC 4.9 2.6
DEP    D STAGE STORES INC - 4.9 - 7.1
APP    C+ FREDS INC 0.0 - 1.8


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    B+ ABERCROMBIE & FITCH CO - 24.0 
DEP    E SAKS INC/FKA PROFFITTS INC - 19.8 
APP    C+ CACHE INC - 19.0 
APP    B+ AMERICAN EAGLE OUTFITTERS - 17.0 
APP    NR OLD NAVY/THE GAP INC - 16.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 15.0 
APP    B- GAP INC,THE - 14.0 
APP    B- WET SEAL INC - 12.5 
APP    C+ CHICOS FAS INC - 12.4 
SG    A ZUMIEZ INC - 12.3 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
APP    B+ ABERCROMBIE & FITCH CO - 24.0 - 2.0
DEP    E SAKS INC/FKA PROFFITTS INC - 19.8 0.8
SG    A ZUMIEZ INC - 12.3 3.9
APP    B+ AMERICAN EAGLE OUTFITTERS - 17.0 - 2.0
APP    NR BANANA REPUBLIC INC/THE GAP INC - 15.0 - 1.0
APP    B- WET SEAL INC - 12.5 0.6
MM    B- COSTCO WHOLESALE CORP - 4.0 7.0
APP    C+ CACHE INC - 19.0 - 10.0
APP    NR OLD NAVY/THE GAP INC - 16.0 - 8.0
APP    E PACIFIC SUNWEAR OF CALIFORNIA INC - 10.0 - 2.8


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
13.5  - 6.2  - 24.0 
APP Apparel Stores 13.5  - 8.0  - 24.0 
DEP Dept Stores & Catalogs - 1.4  - 7.7  - 19.8 
DR Drug Stores 4.9  2.4  - 0.2 
HF Home Furnishings 0.0  0.0  0.0 
MM Mass Merchandisers-Retail 6.0  - 1.3  - 6.3 
SR Specialty Retail - 11.0  - 11.0  - 11.0 
SG Sporting Goods Retail - 12.3  - 12.3  - 12.3 


Industry Performance

Happy New Year!!! or not, especially if you are a retailer. Dismal sales figures resulted during December as shoppers' fears of a continued recession become more of a reality. There were numerous shoppers out in the stores, but not many carrying bags. Those that did buy, bought only deeply discounted items. Retailers lured customers in with crazy deals and discounts, but even Wal-Mart was hurt by the current deteriorating economy. With the economy in its current poor condition, all businesses are facing an increasing challenge of getting shoppers in the door and getting them to leave with a purchase. Even the wealthy are looking for more value, as luxury stores were hit hard during the month. Value and necessities are the main focus for the majority of consumers these days and unfortunately that eliminates many retailers from gaining any traffic. As we head into a new year, it appears that it will continue to be a challenging environment across the board. With ever-rising unemployment numbers and food costs, many are staying at home and making due with what they already have.



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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