SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES NOVEMBER 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
Nov Prior Year Nov Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating		 Apparel Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
C  WET SEAL INC  51.50  -19.50  41.30  33.80  22
NR  CATHERINES INC/CHARMING SHOPPES  29.00  -14.00  0.00  0.00  0
A-  ABERCROMBIE & FITCH CO  23.00  2.00  251.20  188.00  34
B+  GYMBOREE CORP  22.00  -10.00  65.10  52.10  25
NR  MAURICES INC/AMERICAN RETAIL GROUP  16.00    0.00    0
NR  EXPRESS INC/LIMITED BRANDS  13.00  -22.00  0.00  0.00  0
B-  ANNTAYLOR STORES CORP  12.90  -8.30  182.50  146.19  25
C  CHILDRENS PLACE RETAIL STORES  12.00  9.00  166.00  118.70  40
A-  CHICOS FAS INC  11.80  8.60  111.40  88.70  26
B  DRESS BARN INC  10.00  4.00  99.30  61.90  60
C-  CHARMING SHOPPES INC  9.00  3.00  233.60  176.40  32
B+  AEROPOSTALE INC  7.30  4.10  134.30  106.00  27
A-  DEB SHOPS INC  7.20  -1.80  24.90  23.00  8
NR  DRESS BARN  7.00    0.00    0
F+  FILENES BASEMENT CORP/RETAIL VENTURES INC  5.80  2.70  37.50  37.66  -0
B+  MENS WEARHOUSE INC,THE  5.80  3.20  133.70  124.30  8
B-  BURLINGTON COAT FACTORY WAREHOUSE CORP  5.20  3.90  0.00  876.00  -100
B  CLAIRES STORES INC  5.00  3.00  101.40  97.33  4
C-  UNITED RETAIL GROUP INC/DE  5.00  11.00  35.20  33.80  4
B-  ROSS STORES INC  5.00  -2.00  451.00  391.00  15
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  5.00  -1.00  817.70  0.00  0
C  FREDS INC  4.50  -1.00  140.30  119.10  18
A-  BEBE STORES INC  4.20  23.20  46.30  40.90  13
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  4.00  -11.60  47.70  40.80  17
B+  CATO CORP  4.00  3.00  62.10  57.10  9
B+  JOS A BANK CLOTHIERS INC /DE/  3.80  7.50  41.90  36.10  16
D-  TALBOTS INC  3.30  -0.50  131.30  130.50  1
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  3.00  2.70  107.30  95.60  12
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  3.00  0.01  0.00  0.00  0
NR  FASHION BUG  3.00  5.00  0.00  0.00  0
A  AMERICAN EAGLE OUTFITTERS INC  1.70  24.30  202.40  196.90  3
A  BUCKLE INC,THE  0.30  -0.40  42.50  40.30  5
C+  LIMITED BRANDS INC  0.00  -5.00  0.00  762.70  -100
C+  HOT TOPIC INC  0.00  -8.00  54.70  48.50  13
C+  TJX COMPANIES INC  -1.00  2.00  1500.00  1400.00  7
B-  CACHE INC  -1.00  3.00  22.10  25.60  -14
NR  OLD NAVY/THE GAP INC  -2.00  -5.00  0.00  0.00  0
C  S & K FAMOUS BRANDS INC  -2.60  9.80  15.80  16.20  -2
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  -3.00  -3.00  44.40  42.50  4
C-  STEIN MART INC  -3.60  2.00  135.40  140.30  -3
B  GAP INC,THE  -4.00  -4.00  1400.00  1400.00  0
C  GOODYS FAMILY CLOTHING INC  -4.80  -0.60  128.00  126.40  1
NR  BANANA REPUBLIC INC/THE GAP INC  -5.00  -3.00  0.00  0.00  0
NR  GAP INC  -5.00  1.00  0.00  0.00  0
E  WILSONS THE LEATHER EXPERTS INC  -13.80  -3.10  41.30  48.60  -15

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
F  SHARPER IMAGE CORP  -18.00  -3.00  60.00  78.90  -24

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
NR  LANE BRYANT INC  10.00  6.00  0.00  0.00  0
B-  STAGE STORES INC  4.60  6.00  110.60  103.80  7
C-  NEIMAN MARCUS INC  4.00  8.40  328.00  308.00  6
B-  JC PENNEY CO INC  3.60  12.00  1856.00  1543.00  20
B-  NORDSTROM INC  2.80  3.10  706.50  667.60  6
NR  TARGET STORES  2.60  0.00  0.00  0.00  0
D  DILLARDS INC-HQ  1.00  -3.00  561.00  558.26  0
NR  VALUE CITY DEPARTMENT STORE  0.80  -9.70  145.10  144.59  0
E  GOTTSCHALKS INC  0.50  -8.10  62.50  61.40  2
C-  SAKS INC/FKA PROFFITTS INC  0.10  2.40  543.60  635.90  -15
A-  KOHLS CORP  -0.10  0.01  1493.70  1346.50  11
E+  BON TON STORES INC  -0.90  5.40  141.90  143.20  -1
NR  BON TON,THE  -0.90  3.70  0.00  0.00  0
NR  SHOPKO STORES  -2.10  -6.40  194.60  200.90  -3
D  GORDMANS INC  -2.10  -3.60  0.00  0.00  0
C-  MACYS INC (FKA FEDERATED DPT STORES)  -3.40  -1.40  2738.00  1434.00  91

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
B  WALGREEN COMPANY INC  7.80  11.40  3746.30  3374.00  11
B-  CVS/CAREMARK CORPORATION  7.00  3.10  2900.00  2.64  109,748
C-  JEAN COUTU GROUP (PJC) INC  2.00    715.40    0
E+  RITE AID CORP  1.90  -1.30  1593.00  1563.00  2
C-  LONGS DRUG STORES CORP  1.00  2.00  354.10  348.70  2

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
C-  SHOE CARNIVAL INC  12.80  -1.70  52.00  45.20  15
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  9.00  -2.30  207.60  206.40  1

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
E  PIER 1 IMPORTS INC  1.90  -9.10  177.10  167.19  6
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  -12.40  -13.00  50.10  57.70  -13

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
B-  PRICESMART INC  15.40  6.10  56.70  53.60  6
NR  SAMS CLUB  7.00  2.90  3247.00  2993.00  8
B-  COSTCO WHOLESALE CORP  6.00  5.00  4450.00  4080.00  9
E+  RETAIL VENTURES INC/ FKA VALUE CITY DEPARTMENT STORES IN  4.70  -5.30  280.50  258.90  8
B-  WAL MART STORES INC  4.30  0.70  25768.00  23544.00  9
D  DUCKWALL ALCO STORES INC  3.50  -1.30  37.20  36.70  1
B-  FAMILY DOLLAR STORES INC  3.40  5.20  502.10  457.90  10
C-  COST U LESS INC  2.70  12.30  17.00  17.20  -1
B-  TARGET CORP  2.60  3.20  4583.00  4203.00  9
C+  BJS WHOLESALE CLUB  1.80  1.80  621.80  591.05  5
B  BIG LOTS INC /FKA CONSOLIDATED STORES INC  0.70  -6.10  461.60  444.40  4
D  DOLLAR GENERAL CORP  -0.20  3.40  686.30  643.50  7
E  SKO GROUP HOLDINGS CORP F/K/A/SHOPKO STORES INC  -3.90  -4.80  260.10  272.80  -5
NR  PAMIDA HOLDINGS CORP  -8.90  0.01  65.50  71.90  -9

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -1.80  -5.30  16.80  16.60  1

Credit
Rating		 Specialty Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Nov Prior Year Nov Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  4.00  2.00  0.00  0.00  0
D+  JO ANN STORES INC  -6.10  2.70  190.20  190.90  -0
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -9.20  -5.70  38.10  41.20  -8



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
APP    C WET SEAL INC 51.5 
APP    NR CATHERINES INC/CHARMING SHOPPES 29.0 
APP    A- ABERCROMBIE & FITCH CO 23.0 
APP    B+ GYMBOREE CORP 22.0 
APP    NR MAURICES INC/AMERICAN RETAIL GROUP 16.0 
MM    B- PRICESMART INC 15.4 
APP    NR EXPRESS INC/LIMITED BRANDS 13.0 
APP    B- ANNTAYLOR STORES CORP 12.9 
FW    C- SHOE CARNIVAL INC 12.8 
APP    C CHILDRENS PLACE RETAIL STORES 12.0 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    C WET SEAL INC 51.5 - 19.5
APP    NR CATHERINES INC/CHARMING SHOPPES 29.0 - 14.0
APP    NR EXPRESS INC/LIMITED BRANDS 13.0 - 22.0
APP    B+ GYMBOREE CORP 22.0 - 10.0
APP    B- ANNTAYLOR STORES CORP 12.9 - 8.3
APP    A- ABERCROMBIE & FITCH CO 23.0 2.0
APP    E+ MOTHERS WORK INC / MOTHERHOOD MATERNITY 4.0 - 11.6
FW    C- SHOE CARNIVAL INC 12.8 - 1.7
FW    B- COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE 9.0 - 2.3
HF    E PIER 1 IMPORTS INC 1.9 - 9.1


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 18.0 
APP    E WILSONS THE LEATHER EXPERTS INC - 13.8 
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 - 12.4 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 9.2 
MM    NR PAMIDA HOLDINGS CORP - 8.9 
SR    D+ JO ANN STORES INC - 6.1 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 5.0 
APP    NR GAP INC - 5.0 
APP    C GOODYS FAMILY CLOTHING INC - 4.8 
APP    B GAP INC,THE - 4.0 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    A AMERICAN EAGLE OUTFITTERS INC 1.7 24.3
APP    A- BEBE STORES INC 4.2 23.2
CE    F SHARPER IMAGE CORP - 18.0 - 3.0
APP    C S & K FAMOUS BRANDS INC - 2.6 9.8
APP    E WILSONS THE LEATHER EXPERTS INC - 13.8 - 3.1
MM    C- COST U LESS INC 2.7 12.3
MM    NR PAMIDA HOLDINGS CORP - 8.9 0.0
SR    D+ JO ANN STORES INC - 6.1 2.7
DEP    B- JC PENNEY CO INC 3.6 12.0
DEP    E+ BON TON STORES INC - 0.9 5.4


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 51.5  3.6  - 18.0 
APP Apparel Stores 51.5  5.7  - 13.8 
CE Consumer Electronics - 18.0  - 18.0  - 18.0 
DEP Dept Stores & Catalogs 10.0  1.3  - 3.4 
DR Drug Stores 7.8  3.9  1.0 
FW Footwear Retail 12.8  10.9  9.0 
HF Home Furnishings 1.9  - 5.3  - 12.4 
MM Mass Merchandisers-Retail 15.4  2.8  - 8.9 
RET Other Retail Stores - 1.8  - 1.8  - 1.8 
SR Specialty Retail 4.0  - 3.8  - 9.2 


Industry Performance

The season is changing and families are outfitting themselves with this year's looks plus they're adding a new pair or two of shoes - happy, dancing feet...Yes, they're worried about interest rates, heating oil and natural gas bills and appear to have become more cynical about Iraq, but with value as their rallying cry the malls are reporting traffic and sales above last years levels...Mass merchants comps reflect the hue and cry of shoppers seeking a buy...Noticable are the comps for Consumer Electronics, which after next month will define just how good 2005 has been. Early indications are that while consumers are keeping their wallets carefully tucked away absent a sale, electronics is on everyone's list. In fact, it competes with dollars traditionally devoted to toys as manufacturers effectively target a much broader age range...Certainly the effect of rising Internet sales is an evident trend that is expected to expand both in frequency and dollars.



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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