SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES JANUARY 2009


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
Jan Prior Year Jan Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
A  BUCKLE INC, THE  14.70  19.10  48.00  39.20  22
B+  AEROPOSTALE INC  11.00  4.70  96.60  78.00  24
B-  HOT TOPIC INC  6.00  -3.60  44.80  41.20  9
C+  FREDS INC  -1.90  -1.20  126.10  133.50  -6
B-  ROSS STORES INC  -2.00  1.00  365.00  350.00  4
B-  TJX COMPANIES INC  -4.00  1.00  10000.00  1130.00  785
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  -9.00  -8.00  591.60  625.80  -5
B-  CATO CORP  -10.00  -2.00  52.40  56.40  -7
C+  CHICOS FAS INC  -10.90  -22.10  91.40  94.10  -3
C-  CHILDRENS PLACE RETAIL STORES INC  -11.00  6.00  80.30  121.70  -34
E  PACIFIC SUNWEAR OF CALIFORNIA INC  -11.00    54.70    0
NR  GAP INC  -13.00  -4.00  0.00  0.00  0
B-  WET SEAL INC  -14.70  -5.70  31.60  38.80  -19
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -15.00  -8.00  0.00  0.00  0
NR  BANANA REPUBLIC INC/THE GAP INC  -15.00  5.00  0.00  0.00  0
C+  CACHE INC  -16.00  7.00  13.80  16.60  -17
E  STEIN MART INC  -16.70  -2.50  67.10  81.00  -17
NR  OLD NAVY/THE GAP INC  -17.00  -3.00  0.00  0.00  0
B+  ABERCROMBIE & FITCH CO  -20.00  0.00  191.50  219.70  -13
B+  AMERICAN EAGLE OUTFITTERS  -22.00  -7.00  138.90  163.90  -15
B-  GAP INC,THE  -23.00  -2.00  757.00  932.00  -19

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
11  GOTTSCHALKS INC (CASE# 09-10157)  13.30  -7.40  33.30  30.10  11
D  MACYS INC (FKA FEDERATED DPT STORES)  -4.50  -7.10  1213.00  1275.00  -5
E-  BON TON STORES INC  -8.20  2.40  172.00  187.60  -8
C-  NORDSTROM INC  -11.40  -6.60  468.00  486.30  -4
D-  DILLARDS INC-HQ  -12.00  -12.00  376.60  435.30  -13
D  STAGE STORES INC  -13.10  1.00  74.40  82.10  -9
B-  KOHLS CORP  -13.40  -8.30  720.30  800.00  -10
C-  JC PENNEY CO INC  -16.40  -1.90  983.00  1163.00  -15
E  SAKS INC/FKA PROFFITTS INC  -23.70  4.10  147.10  190.30  -23

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
E  RITE AID CORP  1.00  2.00  1978.00  1999.60  -1
B-  WALGREEN COMPANY INC  0.40  3.80  5220.50  4956.00  5

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
B-  WAL MART STORES INC  1.50  0.90  27742.00  27280.00  2
C+  BJS WHOLESALE CLUB  -0.70  7.80  656.70  652.00  1
NR  SAMS CLUB  -1.50  4.90  3131.00  3156.00  -1
B-  COSTCO WHOLESALE CORP  -2.00  7.00  5100.00  5110.00  -0
C  TARGET CORP  -3.30  -1.10  4138.00  4106.00  1
D-  DUCKWALL ALCO STORES INC  -6.30  21.20  67.20  37.10  81

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
A  ZUMIEZ INC  -14.80  1.70  20.30  20.70  -2

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jan Prior Year Jan Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  0.00  -10.00  0.00  0.00  0



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    A BUCKLE INC, THE 14.7 
DEP    11 GOTTSCHALKS INC (CASE# 09-10157) 13.3 
APP    B+ AEROPOSTALE INC 11.0 
APP    B- HOT TOPIC INC 6.0 
MM    B- WAL MART STORES INC 1.5 
DR    E RITE AID CORP 1.0 
DR    B- WALGREEN COMPANY INC 0.4 
SR    NR BATH & BODY WORKS/LIMITED BRANDS 0.0 
MM    C+ BJS WHOLESALE CLUB - 0.7 
MM    NR SAMS CLUB - 1.5 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
DEP    11 GOTTSCHALKS INC (CASE# 09-10157) 13.3 - 7.4
APP    C+ CHICOS FAS INC - 10.9 - 22.1
SR    NR BATH & BODY WORKS/LIMITED BRANDS 0.0 - 10.0
APP    B- HOT TOPIC INC 6.0 - 3.6
APP    B+ AEROPOSTALE INC 11.0 4.7
DEP    D MACYS INC (FKA FEDERATED DPT STORES) - 4.5 - 7.1
MM    B- WAL MART STORES INC 1.5 0.9
DEP    D- DILLARDS INC-HQ - 12.0 - 12.0
APP    C+ FREDS INC - 1.9 - 1.2
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS - 9.0 - 8.0


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
DEP    E SAKS INC/FKA PROFFITTS INC - 23.7 
APP    B- GAP INC,THE - 23.0 
APP    B+ AMERICAN EAGLE OUTFITTERS - 22.0 
APP    B+ ABERCROMBIE & FITCH CO - 20.0 
APP    NR OLD NAVY/THE GAP INC - 17.0 
APP    E STEIN MART INC - 16.7 
DEP    C- JC PENNEY CO INC - 16.4 
APP    C+ CACHE INC - 16.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 15.0 
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 15.0 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
DEP    E SAKS INC/FKA PROFFITTS INC - 23.7 4.1
MM    D- DUCKWALL ALCO STORES INC - 6.3 21.2
APP    C+ CACHE INC - 16.0 7.0
APP    B- GAP INC,THE - 23.0 - 2.0
APP    NR BANANA REPUBLIC INC/THE GAP INC - 15.0 5.0
APP    B+ ABERCROMBIE & FITCH CO - 20.0 0.0
APP    C- CHILDRENS PLACE RETAIL STORES INC - 11.0 6.0
SG    A ZUMIEZ INC - 14.8 1.7
APP    B+ AMERICAN EAGLE OUTFITTERS - 22.0 - 7.0
DEP    C- JC PENNEY CO INC - 16.4 - 1.9


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
14.7  - 7.9  - 23.7 
APP Apparel Stores 14.7  - 9.5  - 23.0 
DEP Dept Stores & Catalogs 13.3  - 9.9  - 23.7 
DR Drug Stores 1.0  0.7  0.4 
MM Mass Merchandisers-Retail 1.5  - 2.1  - 6.3 
SR Specialty Retail 0.0  0.0  0.0 
SG Sporting Goods Retail - 14.8  - 14.8  - 14.8 


Industry Performance

A new year, but the same old story?. Retail same store sales continue to decline. After a dismal holiday season, January showed an overwhelming amount of red, and we don't mean a festive, 'yeh us!' color red. Part of the decline was due to the fact that there was less left over inventory from the holidays as retailers cut back on orders and stock. The other is the due to consumers cutting back and trading down. Shoppers who usually trailed the aisles at high end retailers, began to see what other retailers were offering. On a high note, though, overall results were not as poor as anticipated. Some teen apparel retailers saw increases, specifically Buckle, Aeropostale and Hot Topic. Wal-Mart continues to benefit from the lack of traffic at other stores as its prices and offerings are appreciated by many. As consumers continue to hit their head against the recession wall, retailers will be the hurt the most. Why buy new clothes if you can't afford to go out in them? Who needs new furniture, when a blanket and pillow on the floor creates 'family camping/picnicking time'? As we head into February, we should see a bit more traffic, since typically it is a month when consumers head back to the stores as malls, since winter weather is getting to most people and they need something to do. Then again, due to the economic climate, most will probably only buy big discounted items, as the last of winter goods are cleared out and the focus remains on necessities, like groceries, and low prices.



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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