SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES MAY 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
May Prior Year May Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating		 Apparel Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
C  WET SEAL INC  56.90  -7.80  40.00  33.00  21
A-  BEBE STORES INC  40.30  10.20  44.80  32.90  36
A-  ABERCROMBIE & FITCH CO  29.00  1.00  159.00  111.50  43
A  AMERICAN EAGLE OUTFITTERS INC  17.10  10.60  140.90  117.30  20
A-  CHICOS FAS INC  13.60  17.90  117.10  90.20  30
B+  MENS WEARHOUSE INC,THE  12.80  7.80  144.60  123.60  17
A-  CITI TRENDS INC  11.10    17.90    0
E  WILSONS THE LEATHER EXPERTS INC  11.00  -6.40  17.20  16.00  7
D+  VANITY SHOPS OF GRAND FORKS INC  10.50    6.70    0
C  S & K FAMOUS BRANDS INC  10.10  -3.70  15.20  13.80  10
C-  UNITED RETAIL GROUP INC/DE  10.00  -1.00  39.10  36.00  9
B-  CACHE INC  10.00  4.00  21.50  19.80  9
A  BUCKLE INC,THE  8.60  8.30  30.80  27.30  13
B-  BURLINGTON COAT FACTORY WAREHOUSE CORP  8.20  4.60  0.00  0.00  0
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  7.00  -6.00  39.30  32.40  21
B-  ROSS STORES INC  7.00  -1.00  370.00  319.00  16
B+  JOS A BANK CLOTHIERS INC /DE/  5.60  6.40  31.50  26.20  20
NR  MAURICES INC/AMERICAN RETAIL GROUP  5.00    0.00    0
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  5.00  -11.00  0.00  0.00  0
D-  TALBOTS INC  4.10  8.10  137.30  127.60  8
NR  CATHERINES INC/CHARMING SHOPPES  4.00  -1.00  0.00  0.00  0
B  CLAIRES STORES INC  3.00  10.00  94.60  89.24  6
A-  DEB SHOPS INC  2.70  -2.30  26.20  25.60  2
C  FREDS INC  2.00  5.20  117.50  106.30  11
C  CHILDRENS PLACE RETAIL STORES  2.00  9.00  90.40  57.20  58
B  DRESS BARN INC  1.00  4.00  104.70  73.90  42
F+  FILENES BASEMENT CORP/RETAIL VENTURES INC  0.40  11.60  0.00  30.10  -100
C-  STEIN MART INC  0.40  11.10  117.90  114.80  3
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  0.40  7.80  80.70  72.40  11
C+  TJX COMPANIES INC  -1.00  5.00  1200.00  1100.00  9
B+  CATO CORP  -1.00  4.00  72.30  69.50  4
B+  GYMBOREE CORP  -1.00  -1.00  36.70  36.60  0
C+  LIMITED BRANDS INC  -1.00  3.00  672.90  641.40  5
NR  DRESS BARN  -1.00    0.00    0
C+  HOT TOPIC INC  -1.90  -0.50  43.30  37.70  15
C-  CHARMING SHOPPES INC  -2.00  5.00  205.20  205.60  -0
B+  AEROPOSTALE INC  -4.90  27.00  62.60  54.10  16
NR  FASHION BUG  -7.00  11.00  0.00  0.00  0
NR  BANANA REPUBLIC INC/THE GAP INC  -7.00  8.00  0.00  0.00  0
B-  ANNTAYLOR STORES CORP  -7.10  9.90  177.10  169.87  4
B  GAP INC,THE  -8.00  6.00  1170.00  1200.00  -3
NR  OLD NAVY/THE GAP INC  -8.00  4.00  0.00  0.00  0
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  -8.10  -3.00  51.90  50.00  4
NR  EXPRESS INC/LIMITED BRANDS  -9.00  0.01  0.00  0.00  0
NR  GAP INC  -9.00  11.00  0.00  0.00  0
C  GOODYS FAMILY CLOTHING INC  -9.10  1.30  95.90  99.40  -4

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
D-  CIRCUIT CITY STORES INC  0.00    0.00    0
D-  TRANS WORLD ENTERTAINMENT CORP  0.00    0.00    0
F  SHARPER IMAGE CORP  -15.00  1.00  45.60  51.40  -11

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
C-  NEIMAN MARCUS INC  11.00  8.50  269.00  246.00  9
B-  NORDSTROM INC  7.40  9.40  545.50  499.00  9
B-  STAGE STORES INC  7.00  1.00  100.00  90.60  10
E  GOTTSCHALKS INC  4.20  -7.60  47.40  45.70  4
B-  JC PENNEY CO INC  3.50  9.10  1290.00  1042.00  24
NR  LANE BRYANT INC  2.00  1.00  0.00  0.00  0
D  DILLARDS INC-HQ  1.00  -5.00  519.00  511.40  1
C-  MACYS INC (FKA FEDERATED DPT STORES)  0.80  2.90  1191.00  1172.00  2
A-  KOHLS CORP  0.20  5.00  899.10  815.80  10
C-  SAKS INC/FKA PROFFITTS INC  -1.20  9.40  419.60  431.30  -3
E+  BON TON STORES INC  -6.10  0.80  89.00  95.10  -6
NR  BON TON,THE  -6.10  2.60  0.00  95.10  -100
D  GORDMANS INC  -6.60  6.00  0.00  0.00  0
NR  VALUE CITY DEPARTMENT STORE  -6.70  -3.70  0.00  104.60  -100
NR  SHOPKO STORES  -7.90  3.00  170.60  184.90  -8

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
B  WALGREEN COMPANY INC  8.80  8.50  3599.70  3176.00  13
B-  CVS/CAREMARK CORPORATION  5.80  6.10  2850.00  2170.00  31
C-  LONGS DRUG STORES CORP  0.40  3.10  364.40  361.70  1

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
C-  SHOE CARNIVAL INC  7.10  0.50  48.00  43.10  11
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  4.10  3.90  240.20  246.70  -3

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  10.00  -16.00  42.50  37.40  14
C-  HAVERTY FURNITURE COMPANIES  1.20    61.80    0
E-  RESTORATION HARDWARE INC  0.00    0.00    0
E  PIER 1 IMPORTS INC  -7.70  -7.60  130.90  133.61  -2

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
B-  PRICESMART INC  15.60  -1.40  56.00  48.30  16
B-  TARGET CORP  5.10  4.60  3500.00  3544.00  -1
B-  COSTCO WHOLESALE CORP  5.00  16.00  4110.00  3800.00  8
D  DOLLAR GENERAL CORP  4.30  4.00  640.60  568.20  13
C-  COST U LESS INC  2.60    15.90    0
B-  WAL MART STORES INC  2.50  5.90  23421.00  21425.00  9
D  DUCKWALL ALCO STORES INC  2.20  0.50  36.00  36.80  -2
NR  SAMS CLUB  1.60  11.80  3064.00  2935.00  4
C+  BJS WHOLESALE CLUB  0.50  12.10  603.40  576.40  5
B-  FAMILY DOLLAR STORES INC  0.20  3.50  442.50  411.50  8
B  BIG LOTS INC /FKA CONSOLIDATED STORES INC  -0.20  7.40  339.60  323.30  5
E+  RETAIL VENTURES INC/ FKA VALUE CITY DEPARTMENT STORES IN  -3.20  1.90  228.70  220.50  4
NR  PAMIDA HOLDINGS CORP  -5.00  3.50  64.50  67.00  -4
E  SKO GROUP HOLDINGS CORP F/K/A/SHOPKO STORES INC  -7.20  3.20  235.10  251.90  -7

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -0.20  -1.50  23.70  23.40  1

Credit
Rating		 Specialty Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
May Prior Year May Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  5.00  1.00  0.00  0.00  0
D+  JO ANN STORES INC  2.00  2.00  114.60  110.90  3
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -8.40  -9.00  25.90  28.00  -8



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
APP    C WET SEAL INC 56.9 
APP    A- BEBE STORES INC 40.3 
APP    A- ABERCROMBIE & FITCH CO 29.0 
APP    A AMERICAN EAGLE OUTFITTERS INC 17.1 
MM    B- PRICESMART INC 15.6 
APP    A- CHICOS FAS INC 13.6 
APP    B+ MENS WEARHOUSE INC,THE 12.8 
APP    A- CITI TRENDS INC 11.1 
DEP    C- NEIMAN MARCUS INC 11.0 
APP    E WILSONS THE LEATHER EXPERTS INC 11.0 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    C WET SEAL INC 56.9 - 7.8
APP    A- BEBE STORES INC 40.3 10.2
APP    A- ABERCROMBIE & FITCH CO 29.0 1.0
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 10.0 - 16.0
APP    E WILSONS THE LEATHER EXPERTS INC 11.0 - 6.4
MM    B- PRICESMART INC 15.6 - 1.4
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS 5.0 - 11.0
APP    C S & K FAMOUS BRANDS INC 10.1 - 3.7
APP    B+ CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS 7.0 - 6.0
DEP    E GOTTSCHALKS INC 4.2 - 7.6


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 15.0 
APP    C GOODYS FAMILY CLOTHING INC - 9.1 
APP    NR EXPRESS INC/LIMITED BRANDS - 9.0 
APP    NR GAP INC - 9.0 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 8.4 
APP    E+ MOTHERS WORK INC / MOTHERHOOD MATERNITY - 8.1 
APP    B GAP INC,THE - 8.0 
APP    NR OLD NAVY/THE GAP INC - 8.0 
DEP    NR SHOPKO STORES - 7.9 
HF    E PIER 1 IMPORTS INC - 7.7 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    B+ AEROPOSTALE INC - 4.9 27.0
APP    NR GAP INC - 9.0 11.0
APP    NR FASHION BUG - 7.0 11.0
APP    B- ANNTAYLOR STORES CORP - 7.1 9.9
CE    F SHARPER IMAGE CORP - 15.0 1.0
APP    NR BANANA REPUBLIC INC/THE GAP INC - 7.0 8.0
APP    B GAP INC,THE - 8.0 6.0
DEP    D GORDMANS INC - 6.6 6.0
APP    NR OLD NAVY/THE GAP INC - 8.0 4.0
MM    C+ BJS WHOLESALE CLUB 0.5 12.1


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 56.9  2.8  - 15.0 
APP Apparel Stores 56.9  4.6  - 9.1 
CE Consumer Electronics 0.0  - 5.0  - 15.0 
DEP Dept Stores & Catalogs 11.0  0.2  - 7.9 
DR Drug Stores 8.8  5.0  0.4 
FW Footwear Retail 7.1  5.6  4.1 
HF Home Furnishings 10.0  0.9  - 7.7 
MM Mass Merchandisers-Retail 15.6  1.7  - 7.2 
RET Other Retail Stores - 0.2  - 0.2  - 0.2 
SR Specialty Retail 5.0  - 0.5  - 8.4 


Industry Performance

The month of May turned out to be merry overall for the retail sector as comp store sales rebounded from a moribund 2.1% gain in April to a 2.5% gain in May, though still below the pace set in first three months of the year. The impact of gas prices is becoming more apparent, however, as comps for the lower end mass merchants reflected the fact that pennies were not only pinched but nearly strangled. At the other end of the spectrum, more affluent shoppers did not seem to be deterred by higher energy costs, but were pleased with the fashionable spring assortments offered at mostly the higher end apparel and footwear retailers. We suspect that June will limp along, setting the stage for what everyone hopes will be a strong back-to-school season starting mid-July.



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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