SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES APRIL 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
Apr Prior Year Apr Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
A-  AEROPOSTALE INC  20.00  25.00  137.70  104.90  31
A  BUCKLE INC, THE  18.20  34.00  59.10  47.00  26
B-  CATO CORP  11.00  5.00  79.40  69.40  14
B-  ROSS STORES INC  6.00  8.00  534.00  480.00  11
C+  FREDS INC  5.00  4.30  135.80  137.50  -1
B-  CHILDRENS PLACE RETAIL STORES INC  5.00  15.00  135.00  128.70  5
B  HOT TOPIC INC  3.10  -2.50  47.30  44.80  6
B-  TJX COMPANIES INC  3.00  8.00  1430.00  1400.00  2
NR  OLD NAVY/THE GAP INC  1.00  -12.00  0.00  0.00  0
E-  DESTINATION MATERNITY CORP  -1.20  2.30  49.90  52.20  -4
B-  WET SEAL INC  -2.20  -1.90  41.00  42.00  -2
B-  GAP INC,THE  -4.00  -6.00  1050.00  1100.00  -5
B+  AMERICAN EAGLE OUTFITTERS  -5.00  2.00  193.60  197.70  -2
C  LIMITED BRANDS INC  -6.00  -5.00  531.20  577.00  -8
NR  BANANA REPUBLIC INC/THE GAP INC  -8.00    0.00    0
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -8.00  -4.00  0.00  0.00  0
NR  GAP INC  -10.00    0.00    0
E  STEIN MART INC  -12.30  7.30  100.20  117.40  -15
B  ABERCROMBIE & FITCH CO  -22.00  6.00  202.40  241.00  -16

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
D  STAGE STORES INC  -1.50  -1.00  107.70  106.50  1
E-  BON TON STORES INC  -5.10  -0.90  199.40  209.20  -5
D-  DILLARDS INC-HQ  -6.00  -4.00  429.30  476.80  -10
B-  KOHLS CORP  -6.20  3.50  1199.00  1227.00  -2
C-  JC PENNEY CO INC  -6.60  -1.70  1266.00  1330.00  -5
C-  NORDSTROM INC  -10.80  -3.80  561.00  600.00  -7
E  SAKS INC/FKA PROFFITTS INC  -32.00  23.90  238.70  349.70  -32

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
B-  WALGREEN COMPANY INC  5.70  1.60  5381.00  4848.00  11
E  RITE AID CORP  1.80  0.50  2003.00  2003.00  0

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
D-  DUCKWALL ALCO STORES INC  6.10  -8.60  35.90  33.50  7
B-  WAL MART STORES INC  4.00  3.80  29853.00  29181.00  2
C  TARGET CORP  0.30  3.10  4446.00  4253.00  5
C+  BJS WHOLESALE CLUB  -4.90  17.80  719.00  744.50  -3
NR  SAMS CLUB  -5.10  9.50  3462.00  3612.00  -4
B-  COSTCO WHOLESALE CORP  -8.00  8.00  5180.00  5540.00  -6

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
A-  ZUMIEZ INC  -13.80  4.10  23.80  24.20  -2

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Apr Prior Year Apr Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  1.00  -8.00  0.00  0.00  0



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    A- AEROPOSTALE INC 20.0 
APP    A BUCKLE INC, THE 18.2 
APP    B- CATO CORP 11.0 
MM    D- DUCKWALL ALCO STORES INC 6.1 
APP    B- ROSS STORES INC 6.0 
DR    B- WALGREEN COMPANY INC 5.7 
APP    C+ FREDS INC 5.0 
APP    B- CHILDRENS PLACE RETAIL STORES INC 5.0 
MM    B- WAL MART STORES INC 4.0 
APP    B HOT TOPIC INC 3.1 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
MM    D- DUCKWALL ALCO STORES INC 6.1 - 8.6
APP    NR OLD NAVY/THE GAP INC 1.0 - 12.0
SR    NR BATH & BODY WORKS/LIMITED BRANDS 1.0 - 8.0
APP    B- CATO CORP 11.0 5.0
APP    B HOT TOPIC INC 3.1 - 2.5
DR    B- WALGREEN COMPANY INC 5.7 1.6
APP    B- GAP INC,THE - 4.0 - 6.0
DR    E RITE AID CORP 1.8 0.5
APP    C+ FREDS INC 5.0 4.3
MM    B- WAL MART STORES INC 4.0 3.8


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
DEP    E SAKS INC/FKA PROFFITTS INC - 32.0 
APP    B ABERCROMBIE & FITCH CO - 22.0 
SG    A- ZUMIEZ INC - 13.8 
APP    E STEIN MART INC - 12.3 
DEP    C- NORDSTROM INC - 10.8 
APP    NR GAP INC - 10.0 
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 8.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 8.0 
MM    B- COSTCO WHOLESALE CORP - 8.0 
DEP    C- JC PENNEY CO INC - 6.6 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
DEP    E SAKS INC/FKA PROFFITTS INC - 32.0 23.9
APP    B ABERCROMBIE & FITCH CO - 22.0 6.0
MM    C+ BJS WHOLESALE CLUB - 4.9 17.8
APP    E STEIN MART INC - 12.3 7.3
SG    A- ZUMIEZ INC - 13.8 4.1
MM    B- COSTCO WHOLESALE CORP - 8.0 8.0
APP    A BUCKLE INC, THE 18.2 34.0
MM    NR SAMS CLUB - 5.1 9.5
APP    B- CHILDRENS PLACE RETAIL STORES INC 5.0 15.0
DEP    B- KOHLS CORP - 6.2 3.5


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
20.0  - 2.4  - 32.0 
APP Apparel Stores 20.0  - 0.3  - 22.0 
DEP Dept Stores & Catalogs - 1.5  - 9.7  - 32.0 
DR Drug Stores 5.7  3.8  1.8 
MM Mass Merchandisers-Retail 6.1  - 1.3  - 8.0 
SR Specialty Retail 1.0  1.0  1.0 
SG Sporting Goods Retail - 13.8  - 13.8  - 13.8 


Industry Performance

Although comp store sales for April were far from stellar, they were better than expected. A combination of factors including warmer weather, an explosive stock market surge, and the Easter holiday helped add to retail sales. The stores that benefited the most from the Easter holiday were those that sell children's clothes and pharmacies that sell chocolate and other Easter goodies. Other retailers, such as Costco, were hurt by the loss of the business day due to the closing of stores on the Easter holiday. With ample economic woes abound, value-conscious consumers flocked to deep-discount chains such as Wal-Mart, and shunned pricier retailers such as Saks. The recession has evidently changed the behavior of status-conscious teenagers as they have abandoned the $30 T-shirts of Abercrombie for the more affordable apparel found at the likes of Aeropostale and The Buckle. Comps are expected to suffer in the coming months as retailers face a harsh comparison with the comparable period of 2008 during which consumers received a stimulus check.



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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