SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES JUNE 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
Jun Prior Year Jun Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating
Apparel Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
A-  AEROPOSTALE INC  12.00  12.00  163.20  136.00  20
A  BUCKLE INC, THE  9.60  28.90  70.80  61.90  14
B-  TJX COMPANIES INC  4.00  5.00  1840.00  1800.00  2
B  ROSS STORES INC  1.00  8.00  666.00  628.00  6
NR  OLD NAVY/THE GAP INC  -7.00  -10.00  0.00  0.00  0
B  HOT TOPIC INC  -7.90  -0.30  59.50  63.20  -6
E+  STEIN MART INC  -8.00  7.70  108.80  122.60  -11
NR  GAP INC  -10.00  -5.00  0.00  0.00  0
B  GAP INC,THE  -10.00  -7.00  1290.00  1410.00  -9
E-  DESTINATION MATERNITY CORP  -10.70  0.80  41.30  45.90  -10
B+  AMERICAN EAGLE OUTFITTERS  -11.00  -11.00  246.10  255.90  -4
B-  WET SEAL INC  -11.10  2.90  51.60  56.90  -9
B  CHILDRENS PLACE RETAIL STORES INC  -12.00  16.00  111.90  123.00  -9
C-  LIMITED BRANDS INC  -12.00  -9.00  891.80  1022.00  -13
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  -14.00  -12.00  0.00  0.00  0
NR  BANANA REPUBLIC INC/THE GAP INC  -20.00  -5.00  0.00  0.00  0
B  ABERCROMBIE & FITCH CO  -32.00  -3.00  230.40  309.70  -26

Credit
Rating
Dept Stores & Catalogs Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
E  SAKS INC/FKA PROFFITTS INC  -4.40  1.90  230.20  243.80  -6
B-  KOHLS CORP  -5.60  2.30  1471.00  1490.00  -1
E-  BON TON STORES INC  -8.00  -6.50  241.50  261.20  -8
C-  JC PENNEY CO INC  -8.20  -2.40  1490.00  1600.00  -7
D  MACYS INC (FKA FEDERATED DPT STORES)  -8.90    2050.00    0
C-  NORDSTROM INC  -10.00  -18.60  686.00  731.00  -6
D+  STAGE STORES INC  -12.60  6.40  128.00  142.00  -10
D-  DILLARDS INC-HQ  -14.00  -5.00  497.20  593.30  -16

Credit
Rating
Drug Stores Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
B-  WALGREEN COMPANY INC  3.40  3.40  5236.00  4810.00  9
E  RITE AID CORP  -0.60  -0.40  1973.00  2023.00  -2

Credit
Rating
Mass Merchandisers-Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
D  DUCKWALL ALCO STORES INC  -4.30  0.80  48.00  51.30  -6
B-  COSTCO WHOLESALE CORP  -6.00  9.00  6880.00  7140.00  -4
C  TARGET CORP  -6.20  0.40  5690.00  5842.00  -3
C+  BJS WHOLESALE CLUB  -7.50  16.50  1000.00  1050.00  -5

Credit
Rating
Sporting Goods Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
A-  ZUMIEZ INC  -19.30  -3.40  32.00  34.70  -8

Credit
Rating
Specialty Retail Monthly Comp
Change - %
Net Sales
(in millions)
Sales
% Change
Jun Prior Year Jun Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  -10.00  -8.00  0.00  0.00  0



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    A- AEROPOSTALE INC 12.0 
APP    A BUCKLE INC, THE 9.6 
APP    B- TJX COMPANIES INC 4.0 
DR    B- WALGREEN COMPANY INC 3.4 
APP    B ROSS STORES INC 1.0 
DR    E RITE AID CORP - 0.6 
MM    D DUCKWALL ALCO STORES INC - 4.3 
DEP    E SAKS INC/FKA PROFFITTS INC - 4.4 
DEP    B- KOHLS CORP - 5.6 
MM    B- COSTCO WHOLESALE CORP - 6.0 


Rising Stars - Most Improved

Industry Credit
Rating
Company TY LY
DEP    C- NORDSTROM INC - 10.0 - 18.6
APP    NR OLD NAVY/THE GAP INC - 7.0 - 10.0
DR    B- WALGREEN COMPANY INC 3.4 3.4
APP    A- AEROPOSTALE INC 12.0 12.0
APP    B+ AMERICAN EAGLE OUTFITTERS - 11.0 - 11.0
DR    E RITE AID CORP - 0.6 - 0.4
APP    B- TJX COMPANIES INC 4.0 5.0
DEP    E- BON TON STORES INC - 8.0 - 6.5
SR    NR BATH & BODY WORKS/LIMITED BRANDS - 10.0 - 8.0
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 14.0 - 12.0


Bottom 10 Retail Performers

Industry Credit
Rating
Company Comp %
APP    B ABERCROMBIE & FITCH CO - 32.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 20.0 
SG    A- ZUMIEZ INC - 19.3 
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS - 14.0 
DEP    D- DILLARDS INC-HQ - 14.0 
DEP    D+ STAGE STORES INC - 12.6 
APP    C- LIMITED BRANDS INC - 12.0 
APP    B CHILDRENS PLACE RETAIL STORES INC - 12.0 
APP    B- WET SEAL INC - 11.1 
APP    B+ AMERICAN EAGLE OUTFITTERS - 11.0 


Falling Stars - Sharpest Decline

Industry Credit
Rating
Company TY LY
APP    B ABERCROMBIE & FITCH CO - 32.0 - 3.0
APP    B CHILDRENS PLACE RETAIL STORES INC - 12.0 16.0
MM    C+ BJS WHOLESALE CLUB - 7.5 16.5
APP    A BUCKLE INC, THE 9.6 28.9
DEP    D+ STAGE STORES INC - 12.6 6.4
SG    A- ZUMIEZ INC - 19.3 - 3.4
APP    E+ STEIN MART INC - 8.0 7.7
MM    B- COSTCO WHOLESALE CORP - 6.0 9.0
APP    NR BANANA REPUBLIC INC/THE GAP INC - 20.0 - 5.0
APP    B- WET SEAL INC - 11.1 2.9


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
12.0  - 7.9  - 32.0 
APP Apparel Stores 12.0  - 8.2  - 32.0 
DEP Dept Stores & Catalogs - 4.4  - 9.0  - 14.0 
DR Drug Stores 3.4  1.4  - 0.6 
MM Mass Merchandisers-Retail - 4.3  - 6.0  - 7.5 
SR Specialty Retail - 10.0  - 10.0  - 10.0 
SG Sporting Goods Retail - 19.3  - 19.3  - 19.3 


Industry Performance

The monthly comparable store sales numbers demonstrate the multiple headwinds that consumers battled in June 2009: rising unemployment, soggy weather, a tough year-over-year comparison because of the rebate checks received in June 2008, a recent stock market sell off, and declining consumer confidence. Expectations were low and the results did not fail to disappoint. Notable among the results was Abercrombie & Fitch, reporting an abysmal 32 percent decline in its comps. Even discounters such as Costco and BJs suffered during the past month as lower fuel prices stung revenues. Among the few highlights was the performance of Aeropostale, Buckle, and TJX. Consumers are picking new favorites amid the new frugality seen in spending habits. With the back-to-school shopping season on the horizon, retailers are hoping for the return of the formerly spendthrift American consumer.



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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