SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES FEBRUARY 2006


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
Feb Prior Year Feb Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating		 Apparel Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
C  WET SEAL INC  29.30  16.40  36.10  29.90  21
B+  GYMBOREE CORP  18.00  1.00  53.50  44.50  20
A-  CITI TRENDS INC  11.70  13.00  30.30  22.60  34
NR  EXPRESS INC/LIMITED BRANDS  9.00  -20.00  0.00  0.00  0
A  AMERICAN EAGLE OUTFITTERS INC  8.00  32.40  143.10  127.00  13
NR  DRESS BARN  7.00  19.00  0.00  0.00  0
B-  ROSS STORES INC  6.00  6.00  356.00  311.00  14
A-  CHICOS FAS INC  5.70  9.20  98.70  83.50  18
B-  ANNTAYLOR STORES CORP  5.60  -5.40  130.10  109.83  18
A-  DEB SHOPS INC  5.10  -0.10  25.30  23.70  7
B  DRESS BARN INC  5.00  15.00  77.40  71.20  9
C+  LIMITED BRANDS INC  5.00  -4.00  635.80  611.40  4
A-  ABERCROMBIE & FITCH CO  5.00  19.00  192.70  159.90  21
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  5.00  1.00  0.00  0.00  0
B+  JOS A BANK CLOTHIERS INC /DE/  3.30  3.10  33.80  28.60  18
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  3.10  10.50  89.00  83.10  7
NR  MAURICES INC/AMERICAN RETAIL GROUP  2.00  8.00  0.00  0.00  0
A-  BEBE STORES INC  1.60  25.30  40.20  36.80  9
C+  TJX COMPANIES INC  1.00  6.00  1100.00  1000.00  10
C  CHILDRENS PLACE RETAIL STORES  1.00  24.00  113.80  106.80  7
B+  MENS WEARHOUSE INC,THE  0.90  11.90  121.50  115.80  5
B-  BURLINGTON COAT FACTORY WAREHOUSE CORP  0.70  7.90  0.00  0.00  0
C  FREDS INC  0.30  4.10  133.80  124.60  7
A  BUCKLE INC,THE  -0.40  6.40  34.10  32.60  5
C-  UNITED RETAIL GROUP INC/DE  -1.00  13.00  29.30  29.90  -2
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  -2.20  -2.30  45.70  43.60  5
B-  CACHE INC  -3.00  3.00  20.00  20.60  -3
B+  AEROPOSTALE INC  -5.40  13.40  67.80  59.40  14
D-  TALBOTS INC  -6.00  8.10  91.40  95.00  -4
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  -6.00  5.00  28.90  28.40  2
B+  CATO CORP  -7.00  7.00  64.20  64.60  -1
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  -7.00  0.01  0.00  0.00  0
NR  GAP INC  -7.00  -2.00  0.00  0.00  0
C+  HOT TOPIC INC  -8.40  0.20  48.40  46.00  5
C  S & K FAMOUS BRANDS INC  -8.40  6.70  15.30  16.60  -8
C-  STEIN MART INC  -8.50  6.20  97.20  105.30  -8
E  WILSONS THE LEATHER EXPERTS INC  -9.30  7.80  29.70  33.20  -11
NR  BANANA REPUBLIC INC/THE GAP INC  -11.00  -6.00  0.00  0.00  0
B  GAP INC,THE  -11.00  -3.00  865.00  924.00  -6
NR  OLD NAVY/THE GAP INC  -14.00  -1.00  0.00  0.00  0

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
F  SHARPER IMAGE CORP  -31.00  -20.00  30.50  45.40  -33

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
B-  NORDSTROM INC  4.90  7.00  499.00  463.20  8
A-  KOHLS CORP  3.40  6.10  818.60  712.70  15
C-  NEIMAN MARCUS INC  3.00  7.70  291.00  275.00  6
E  GOTTSCHALKS INC  2.70  -0.60  44.30  42.80  4
B-  JC PENNEY CO INC  2.30  6.10  1302.00  1078.00  21
C-  MACYS INC (FKA FEDERATED DPT STORES)  1.00  1.80  1800.00  1087.00  66
B-  STAGE STORES INC  -0.90  3.70  93.10  92.30  1
NR  BON TON,THE  -1.60    0.00    0
E+  BON TON STORES INC  -1.60  -2.50  72.20  74.80  -3
D  DILLARDS INC-HQ  -2.00  5.00  644.30  653.49  -1
D  GORDMANS INC  -5.80  10.20  0.00  0.00  0
C-  SAKS INC/FKA PROFFITTS INC  -6.40  3.50  173.90  437.20  -60

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
B-  CVS/CAREMARK CORPORATION  5.90  9.20  3100.00  2890.00  7
B  WALGREEN COMPANY INC  5.70  9.30  3797.90  3439.42  10
E+  RITE AID CORP  2.30  0.60  1689.00  1630.00  4
C-  LONGS DRUG STORES CORP  1.90  -1.60  387.70  354.30  9

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  -1.70  13.50  0.00  182.50  -100

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
E-  BOMBAY COMPANY INC CASE NUMBER 07-44084  4.20  -6.50  35.00  34.90  0
C-  HAVERTY FURNITURE COMPANIES  -2.60  6.10  67.50  68.20  -1
E  PIER 1 IMPORTS INC  -10.80  -15.30  109.70  117.28  -6

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
B-  PRICESMART INC  15.90  11.10  52.40  48.40  8
B-  COSTCO WHOLESALE CORP  8.00  7.00  4210.00  3780.00  11
D  DUCKWALL ALCO STORES INC  5.20  -0.30  32.50  30.80  6
NR  SAMS CLUB  4.60  3.10  3032.00  2823.00  7
B-  FAMILY DOLLAR STORES INC  4.40  4.90  507.40  458.10  11
C-  COST U LESS INC  3.70  7.80  16.90  16.50  2
B-  TARGET CORP  3.60  9.00  3731.00  3376.00  11
B-  WAL MART STORES INC  3.20  4.10  25034.00  22368.00  12
C+  BJS WHOLESALE CLUB  1.60  6.70  567.80  535.86  6
D  DOLLAR GENERAL CORP  -0.50  5.50  645.70  607.90  6

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  -0.70  -1.90  18.80  18.60  1

Credit
Rating		 Sporting Goods Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
0  ZUMIEZ INC  28.00    14.40    0

Credit
Rating		 Specialty Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Feb Prior Year Feb Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  4.00  3.00  0.00  0.00  0
D+  JO ANN STORES INC  -3.70  1.60  130.60  128.50  2
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -7.30  -8.10  29.60  31.40  -6



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
APP    C WET SEAL INC 29.3 
SG    0 ZUMIEZ INC 28.0 
APP    B+ GYMBOREE CORP 18.0 
MM    B- PRICESMART INC 15.9 
APP    A- CITI TRENDS INC 11.7 
APP    NR EXPRESS INC/LIMITED BRANDS 9.0 
MM    B- COSTCO WHOLESALE CORP 8.0 
APP    A AMERICAN EAGLE OUTFITTERS INC 8.0 
APP    NR DRESS BARN 7.0 
APP    B- ROSS STORES INC 6.0 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    NR EXPRESS INC/LIMITED BRANDS 9.0 - 20.0
APP    B+ GYMBOREE CORP 18.0 1.0
APP    C WET SEAL INC 29.3 16.4
APP    B- ANNTAYLOR STORES CORP 5.6 - 5.4
HF    E- BOMBAY COMPANY INC CASE NUMBER 07-44084 4.2 - 6.5
APP    C+ LIMITED BRANDS INC 5.0 - 4.0
MM    D DUCKWALL ALCO STORES INC 5.2 - 0.3
APP    A- DEB SHOPS INC 5.1 - 0.1
MM    B- PRICESMART INC 15.9 11.1
HF    E PIER 1 IMPORTS INC - 10.8 - 15.3


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 31.0 
APP    NR OLD NAVY/THE GAP INC - 14.0 
APP    NR BANANA REPUBLIC INC/THE GAP INC - 11.0 
APP    B GAP INC,THE - 11.0 
HF    E PIER 1 IMPORTS INC - 10.8 
APP    E WILSONS THE LEATHER EXPERTS INC - 9.3 
APP    C- STEIN MART INC - 8.5 
APP    C S & K FAMOUS BRANDS INC - 8.4 
APP    C+ HOT TOPIC INC - 8.4 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 7.3 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    A AMERICAN EAGLE OUTFITTERS INC 8.0 32.4
APP    A- BEBE STORES INC 1.6 25.3
APP    C CHILDRENS PLACE RETAIL STORES 1.0 24.0
APP    B+ AEROPOSTALE INC - 5.4 13.4
APP    E WILSONS THE LEATHER EXPERTS INC - 9.3 7.8
DEP    D GORDMANS INC - 5.8 10.2
FW    B- COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE - 1.7 13.5
APP    C S & K FAMOUS BRANDS INC - 8.4 6.7
APP    C- STEIN MART INC - 8.5 6.2
APP    D- TALBOTS INC - 6.0 8.1


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 29.3  0.9  - 31.0 
APP Apparel Stores 29.3  0.6  - 14.0 
CE Consumer Electronics - 31.0  - 31.0  - 31.0 
DEP Dept Stores & Catalogs 4.9  - 0.1  - 6.4 
DR Drug Stores 5.9  4.0  1.9 
FW Footwear Retail - 1.7  - 1.7  - 1.7 
HF Home Furnishings 4.2  - 3.1  - 10.8 
MM Mass Merchandisers-Retail 15.9  5.0  - 0.5 
RET Other Retail Stores - 0.7  - 0.7  - 0.7 
SR Specialty Retail 4.0  - 2.3  - 7.3 
SG Sporting Goods Retail 28.0  28.0  28.0 


Industry Performance

Most retail companies faced very tough and competitive comps from a year ago. In addition, retail sales growth slowed during February as the reappearance of winter weather after a warm January chilled consumers' interest in spring apparel, generating an overall disappointing month. After consumer confidence rose to a three and a half year high in January, consumers' sentiment fell more than expected in February, hurt by concerns about the strength of the job market, higher heating bills, a slowing housing market and rising interest rates. While February is not seen as an important month in retail, it is the turning point for setting the mood for the spring season. As a result, the industry will be watched closely during the combined March and April period, when the bulk of spring selling occurs, to determine if February was just a blip, or the beginning of a trend.



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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