SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES DECEMBER 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
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
C  WET SEAL INC  38.50  -11.80  69.90  63.20  11
A-  ABERCROMBIE & FITCH CO  29.00  10.00  525.90  373.20  41
A-  CITI TRENDS INC  21.40    51.30    0
B+  JOS A BANK CLOTHIERS INC /DE/  20.70  16.20  91.10  68.00  34
A-  CHICOS FAS INC  16.40  18.60  172.60  128.50  34
B+  GYMBOREE CORP  16.00  1.00  86.60  72.00  20
C-  UNITED RETAIL GROUP INC/DE  16.00  6.00  56.60  49.80  14
NR  CATHERINES INC/CHARMING SHOPPES  13.00  -7.00  0.00  0.00  0
B+  AEROPOSTALE INC  11.40  0.50  236.80  178.50  33
C  CHILDRENS PLACE RETAIL STORES  11.00  21.00  286.70  264.70  8
A  AMERICAN EAGLE OUTFITTERS INC  9.80  32.80  433.20  375.00  16
B+  MENS WEARHOUSE INC,THE  8.10  4.30  234.50  212.00  11
B  DRESS BARN INC  8.00  2.00  147.20  84.10  75
NR  DRESS BARN  8.00    0.00    0
F+  FILENES BASEMENT CORP/RETAIL VENTURES INC  7.80  0.90  54.70  52.64  4
B-  BURLINGTON COAT FACTORY WAREHOUSE CORP  7.50  10.10  595.30  544.00  9
NR  MAURICES INC/AMERICAN RETAIL GROUP  7.00    0.00    0
C+  TJX COMPANIES INC  6.00  6.00  2300.00  2100.00  10
B-  ROSS STORES INC  6.00  2.00  672.00  579.00  16
C-  CHARMING SHOPPES INC  5.00  -3.00  396.90  282.50  40
A-  DEB SHOPS INC  4.50  5.00  42.70  40.70  5
B  CLAIRES STORES INC  4.00  5.00  231.50  224.02  3
B-  CACHE INC  4.00  7.00  37.70  35.90  5
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  4.00  4.00  0.00  0.00  0
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  3.50  -1.90  55.60  49.80  12
C+  LIMITED BRANDS INC  3.00  2.00  0.00  1815.00  -100
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  2.00  -7.00  60.20  55.10  9
C  FREDS INC  1.90  -1.30  205.00  184.20  11
B-  ANNTAYLOR STORES CORP  1.50  -1.50  267.70  239.92  12
D-  TALBOTS INC  1.10  2.80  222.80  221.50  1
A-  BEBE STORES INC  1.10  28.00  84.20  75.80  11
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  1.00  5.30  242.40  218.30  11
NR  EXPRESS INC/LIMITED BRANDS  0.00  -18.00  7.00  0.00  0
C  GOODYS FAMILY CLOTHING INC  -0.90  0.70  205.90  197.10  4
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  -1.00  -3.00  1911.00  0.00  0
A  BUCKLE INC,THE  -1.30  4.40  82.80  79.50  4
B+  CATO CORP  -2.00  2.00  104.30  101.40  3
NR  BANANA REPUBLIC INC/THE GAP INC  -5.00  -2.00  0.00  0.00  0
C-  STEIN MART INC  -6.10  10.30  211.80  224.00  -5
C+  HOT TOPIC INC  -6.20  -6.20  132.90  125.20  6
E  WILSONS THE LEATHER EXPERTS INC  -7.70  -4.70  110.20  120.90  -9
B  GAP INC,THE  -9.00  -1.00  2400.00  2600.00  -8
NR  OLD NAVY/THE GAP INC  -10.00  -1.00  0.00  0.00  0
NR  GAP INC  -10.00  2.00  0.00  0.00  0

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
D-  TRANS WORLD ENTERTAINMENT CORP  -7.00  2.00  284.00  312.00  -9
F  SHARPER IMAGE CORP  -15.00  -7.00  150.20  164.30  -9

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
NR  LANE BRYANT INC  9.00  -3.00  0.00  0.00  0
B-  NORDSTROM INC  7.70  9.30  1160.00  1046.00  11
B-  STAGE STORES INC  7.30  3.10  241.90  221.50  9
NR  TARGET STORES  4.70  0.00  0.00  0.00  0
A-  KOHLS CORP  4.60  3.10  2481.80  2135.30  16
E  GOTTSCHALKS INC  3.70  0.01  131.50  125.20  5
C-  MACYS INC (FKA FEDERATED DPT STORES)  3.40  2.30  5708.00  2834.00  101
C-  SAKS INC/FKA PROFFITTS INC  2.40  6.00  898.40  1056.30  -15
B-  JC PENNEY CO INC  2.20  1.20  3256.00  2801.00  16
D  DILLARDS INC-HQ  1.00  1.00  1270.30  1255.85  1
E+  BON TON STORES INC  0.08  2.40  259.90  257.80  1
NR  BON TON,THE  0.08  6.60  0.00  0.00  0
D  GORDMANS INC  0.01  3.00  0.00  0.00  0
C-  SEARS HOLDING CO. F/K/A KMART HOLDING CORP  0.00    0.00    0
NR  VALUE CITY DEPARTMENT STORE  -0.20  -2.40  217.80  219.46  -1

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
B-  CVS/CAREMARK CORPORATION  7.30  4.60  4000.00  3.66  109,190
B  WALGREEN COMPANY INC  6.20  4.20  4481.60  4054.16  11
E+  RITE AID CORP  3.90  -2.70  1803.00  1429.00  26
C-  JEAN COUTU GROUP (PJC) INC  2.70    995.30    0
C-  LONGS DRUG STORES CORP  2.40  -3.40  527.10  512.60  3

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
C-  SHOE CARNIVAL INC  10.60  1.10  72.50  64.30  13
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  -1.50  -3.00  264.30  284.20  -7

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
C-  HAVERTY FURNITURE COMPANIES  -0.70    79.10    0
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  -3.50  -13.00  100.50  107.40  -6
E  PIER 1 IMPORTS INC  -4.80  -8.80  286.90  289.63  -1

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
B-  COSTCO WHOLESALE CORP  7.00  9.00  6370.00  5770.00  10
C-  COST U LESS INC  5.20    24.40    0
B-  TARGET CORP  4.70  5.10  8420.00  7548.00  12
D  DUCKWALL ALCO STORES INC  4.60  1.00  62.80  61.30  2
NR  SAMS CLUB  3.60  5.40  4605.00  4396.00  5
E+  RETAIL VENTURES INC/ FKA VALUE CITY DEPARTMENT STORES IN  3.20  -0.70  386.80  364.40  6
B-  FAMILY DOLLAR STORES INC  2.30  4.00  804.90  742.80  8
B  BIG LOTS INC /FKA CONSOLIDATED STORES INC  2.30  0.10  708.10  667.50  6
B-  WAL MART STORES INC  2.20  3.00  40826.00  38424.00  6
C+  BJS WHOLESALE CLUB  1.40  5.60  965.90  924.40  4
D  DOLLAR GENERAL CORP  -2.80  1.70  1049.00  1007.00  4

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Dec Prior Year Dec Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -2.80  0.60  28.30  28.40  -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  1.00  11.00  0.00  0.00  0
D+  JO ANN STORES INC  -0.50  4.20  273.50  261.50  5
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -4.90  -1.70  48.30  49.90  -3



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
APP    C WET SEAL INC 38.5 
APP    A- ABERCROMBIE & FITCH CO 29.0 
APP    A- CITI TRENDS INC 21.4 
APP    B+ JOS A BANK CLOTHIERS INC /DE/ 20.7 
APP    A- CHICOS FAS INC 16.4 
APP    C- UNITED RETAIL GROUP INC/DE 16.0 
APP    B+ GYMBOREE CORP 16.0 
APP    NR CATHERINES INC/CHARMING SHOPPES 13.0 
APP    B+ AEROPOSTALE INC 11.4 
APP    C CHILDRENS PLACE RETAIL STORES 11.0 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    C WET SEAL INC 38.5 - 11.8
APP    NR CATHERINES INC/CHARMING SHOPPES 13.0 - 7.0
APP    A- ABERCROMBIE & FITCH CO 29.0 10.0
APP    NR EXPRESS INC/LIMITED BRANDS 0.0 - 18.0
APP    B+ GYMBOREE CORP 16.0 1.0
DEP    NR LANE BRYANT INC 9.0 - 3.0
APP    B+ AEROPOSTALE INC 11.4 0.5
APP    C- UNITED RETAIL GROUP INC/DE 16.0 6.0
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 - 3.5 - 13.0
FW    C- SHOE CARNIVAL INC 10.6 1.1


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 15.0 
APP    NR OLD NAVY/THE GAP INC - 10.0 
APP    NR GAP INC - 10.0 
APP    B GAP INC,THE - 9.0 
APP    E WILSONS THE LEATHER EXPERTS INC - 7.7 
CE    D- TRANS WORLD ENTERTAINMENT CORP - 7.0 
APP    C+ HOT TOPIC INC - 6.2 
APP    C- STEIN MART INC - 6.1 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 5.0 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 4.9 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    A- BEBE STORES INC 1.1 28.0
APP    A AMERICAN EAGLE OUTFITTERS INC 9.8 32.8
APP    C- STEIN MART INC - 6.1 10.3
APP    NR GAP INC - 10.0 2.0
SR    NR BATH & BODY WORKS/LIMITED BRANDS 1.0 11.0
APP    C CHILDRENS PLACE RETAIL STORES 11.0 21.0
CE    D- TRANS WORLD ENTERTAINMENT CORP - 7.0 2.0
APP    NR OLD NAVY/THE GAP INC - 10.0 - 1.0
CE    F SHARPER IMAGE CORP - 15.0 - 7.0
APP    B GAP INC,THE - 9.0 - 1.0


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 38.5  3.6  - 15.0 
APP Apparel Stores 38.5  5.4  - 10.0 
CE Consumer Electronics - 7.0  - 11.0  - 15.0 
DEP Dept Stores & Catalogs 9.0  3.1  - 0.2 
DR Drug Stores 7.3  4.5  2.4 
FW Footwear Retail 10.6  4.6  - 1.5 
HF Home Furnishings - 0.7  - 3.0  - 4.8 
MM Mass Merchandisers-Retail 7.0  3.1  - 2.8 
RET Other Retail Stores - 2.8  - 2.8  - 2.8 
SR Specialty Retail 1.0  - 1.5  - 4.9 


Industry Performance

Apparel seems to have won the "peoples choice" award for gifting this holiday season...Consumer Electronics enjoyed a boost in sales with flat panel TVs and Ipods but on the whole shoppers didn't elevate comps for those retailers that have so far reported their results. Undoubtedly, these retailers were impacted by aggressive merchandising offered by Wal Mart...Footwear continues to have a "foot hold" in when it comes to families putting their best foot forward...Mass Merchandisers steadily delivered numbers that were satisfactory, but not overwhelming. The clubs experienced better traffic and improved sales across the board...Department Stores were in a consolidation and restructuring mode for a good part of 2005, which will continue to be the case well into 2006...Home Furnishings along with Home Centers are being challenged by rising interest rates that are using up more of the family budget to support home equity loans that had fueled these categories for the past two plus years. Next year we expect to see a pattern of weak comps being reported in these industries...Drug Stores are seeing sales rise as America "grays" with the proliferation of drug plans coupled with the expansion of generics for an increasing number of prescribed pharmacolgical remidies.



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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