SECTOR MONTHLY SAME STORE SALES
 

COMPARABLE STORE SALES AUGUST 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
Aug Prior Year Aug Prior Year
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       
                       



Companies Ranked by Industry

Credit
Rating		 Apparel Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
NR  VICTORIAS SECRET STORES INC/LIMITED BRANDS  18.00  -2.00  0.00  0.00  0
B+  GYMBOREE CORP  17.00  -1.00  55.10  44.10  25
A-  CITI TRENDS INC  13.70    32.60    0
A-  BEBE STORES INC  12.50  16.90  49.20  39.20  26
C  CHILDRENS PLACE RETAIL STORES  12.00  4.00  155.40  126.20  23
A  AMERICAN EAGLE OUTFITTERS INC  11.00  11.80  276.60  236.90  17
NR  LIMITED STORES INC ,THE/LIMITED BRANDS  9.00  3.00  638.80  0.00  0
C  WET SEAL INC  8.70  48.30  51.20  45.40  13
C  FREDS INC  6.30  -3.80  124.40  111.10  12
A-  ABERCROMBIE & FITCH CO  6.00  24.00  351.30  287.40  22
B+  CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS  5.00  1.00  38.60  33.60  15
E+  MOTHERS WORK INC / MOTHERHOOD MATERNITY  5.00  -0.50  46.50  45.80  2
B+  CATO CORP  4.00  2.00  60.40  54.90  10
C+  TJX COMPANIES INC  4.00  2.00  1300.00  1200.00  8
B+  AEROPOSTALE INC  3.30  1.30  159.10  136.50  17
C-  UNITED RETAIL GROUP INC/DE  3.00  8.00  26.40  25.80  2
B-  ROSS STORES INC  3.00  13.00  425.00  388.00  10
B  DRESS BARN INC  2.00  11.00  101.70  95.30  7
NR  BANANA REPUBLIC INC/THE GAP INC  2.00  -6.00  0.00  0.00  0
B-  ANNTAYLOR STORES CORP  1.90  3.70  149.20  134.10  11
11  GADZOOKS INC CASE# 04-31486  0.00    0.00    0
NR  DRESS BARN  0.00  15.00  0.00  0.00  0
C+  LIMITED BRANDS INC  -1.00  -3.00  0.00  575.30  -100
A-  CHICOS FAS INC  -2.60  14.00  112.20  101.50  11
C-  STEIN MART INC  -2.80  5.30  95.70  98.10  -2
B-  CACHE INC  -3.00  11.00  16.50  17.00  -3
D+  VANITY SHOPS OF GRAND FORKS INC  -4.31  23.69  0.00  10.83  -100
NR  EXPRESS INC/LIMITED BRANDS  -6.00  -9.00  0.00  0.00  0
C+  HOT TOPIC INC  -6.00  -7.10  72.90  70.70  3
B+  JOS A BANK CLOTHIERS INC /DE/  -6.10  12.90  29.60  28.30  5
B  GAP INC,THE  -7.00  -9.00  1150.00  1170.00  -2
A-  DEB SHOPS INC  -7.70  4.70  30.20  31.70  -5
NR  OLD NAVY/THE GAP INC  -8.00  -11.00  0.00  0.00  0
A  BUCKLE INC,THE  -8.50  -3.90  51.50  54.20  -5
C+  PACIFIC SUNWEAR OF CALIFORNIA INC  -8.90  2.60  168.80  175.70  -4
NR  GAP INC  -11.00  -7.00  0.00  0.00  0
E  WILSONS THE LEATHER EXPERTS INC  -18.50  -7.90  15.80  19.10  -17

Credit
Rating		 Consumer Electronics Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
F  SHARPER IMAGE CORP  -22.00  -14.00  32.50  36.60  -11

Credit
Rating		 Dept Stores & Catalogs Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
B-  NORDSTROM INC  7.10  8.00  517.00  472.90  9
A-  KOHLS CORP  5.20  4.60  1139.30  1007.50  13
C-  MACYS INC (FKA FEDERATED DPT STORES)  3.80  1.10  1727.00  1069.00  62
B-  STAGE STORES INC  3.80  1.50  128.80  111.20  16
C-  SAKS INC/FKA PROFFITTS INC  3.30  -0.30  227.50  358.40  -37
E+  BON TON STORES INC  2.30  -1.20  225.00  85.10  164
B-  JC PENNEY CO INC  -0.50  2.80  1581.00  1570.00  1
D  DILLARDS INC-HQ  -1.00  2.00  557.30  566.08  -2
E  GOTTSCHALKS INC  -1.10  0.40  47.30  49.60  -5
NR  BON TON,THE  -5.70    0.00    0

Credit
Rating		 Drug Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
B-  CVS/CAREMARK CORPORATION  8.90  6.20  0.00  2800.00  -100
E+  RITE AID CORP  3.80    1639.00    0
C-  LONGS DRUG STORES CORP  2.00    381.30    0
B  WALGREEN COMPANY INC  0.00  7.00  4190.00  3564.20  18

Credit
Rating		 Footwear Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
B-  COLLECTIVE BRANDS FKA PAYLESS SHOESOURCE  6.10  6.10  218.80  218.80  0
C-  SHOE CARNIVAL INC  2.40  2.40  81.80  81.80  0

Credit
Rating		 Home Furnishings Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
C-  HAVERTY FURNITURE COMPANIES  -8.30    77.10    0
E  PIER 1 IMPORTS INC  -9.10  -12.40  114.30  128.74  -11

Credit
Rating		 Mass Merchandisers-Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
B-  COSTCO WHOLESALE CORP  7.00  9.00  4550.00  4090.00  11
D  DUCKWALL ALCO STORES INC  6.60  7.40  34.60  31.30  11
C-  COST U LESS INC  5.10  2.30  17.00  16.20  5
D  DOLLAR GENERAL CORP  4.80  0.90  687.20  624.00  10
B-  FAMILY DOLLAR STORES INC  4.00  1.80  484.10  444.20  9
B-  TARGET CORP  2.80  6.30  4218.00  3862.00  9
B-  WAL MART STORES INC  2.70  3.30  25965.00  23326.00  11
NR  SAMS CLUB  2.60  6.60  3148.00  3003.00  5
C+  BJS WHOLESALE CLUB  2.30  5.60  624.60  598.00  4

Credit
Rating		 Other Retail Stores Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
D-  FACTORY CARD & PARTY OUTLET CORP NOW PART OF AMSCAN HOLDINGS  2.40  -0.30  15.50  14.70  5

Credit
Rating		 Sporting Goods Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
0  ZUMIEZ INC  4.70    33.70    0

Credit
Rating		 Specialty Retail Monthly Comp
Change - %		 Net Sales
(in millions)		 Sales
% Change
Aug Prior Year Aug Prior Year
NR  BATH & BODY WORKS/LIMITED BRANDS  13.00  1.00  0.00  0.00  0
D+  JO ANN STORES INC  -6.40  -2.40  119.90  123.50  -3
E  HANCOCK FABRICS INC CASE NUMBER 07-10353  -7.70  -6.30  25.80  29.30  -12



Performance Insight


Top 10 Retail Performers

Industry Credit
Rating		 Company Comp %
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS 18.0 
APP    B+ GYMBOREE CORP 17.0 
APP    A- CITI TRENDS INC 13.7 
SR    NR BATH & BODY WORKS/LIMITED BRANDS 13.0 
APP    A- BEBE STORES INC 12.5 
APP    C CHILDRENS PLACE RETAIL STORES 12.0 
APP    A AMERICAN EAGLE OUTFITTERS INC 11.0 
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS 9.0 
DR    B- CVS/CAREMARK CORPORATION 8.9 
APP    C WET SEAL INC 8.7 


Rising Stars - Most Improved

Industry Credit
Rating		 Company TY LY
APP    NR VICTORIAS SECRET STORES INC/LIMITED BRANDS 18.0 - 2.0
APP    B+ GYMBOREE CORP 17.0 - 1.0
SR    NR BATH & BODY WORKS/LIMITED BRANDS 13.0 1.0
APP    C FREDS INC 6.3 - 3.8
APP    C CHILDRENS PLACE RETAIL STORES 12.0 4.0
APP    NR BANANA REPUBLIC INC/THE GAP INC 2.0 - 6.0
APP    NR LIMITED STORES INC ,THE/LIMITED BRANDS 9.0 3.0
APP    E+ MOTHERS WORK INC / MOTHERHOOD MATERNITY 5.0 - 0.5
APP    B+ CHRISTOPHER & BANKS CORP/FKA BRAUNS FASHIONS 5.0 1.0
MM    D DOLLAR GENERAL CORP 4.8 0.9


Bottom 10 Retail Performers

Industry Credit
Rating		 Company Comp %
CE    F SHARPER IMAGE CORP - 22.0 
APP    E WILSONS THE LEATHER EXPERTS INC - 18.5 
APP    NR GAP INC - 11.0 
HF    E PIER 1 IMPORTS INC - 9.1 
APP    C+ PACIFIC SUNWEAR OF CALIFORNIA INC - 8.9 
APP    A BUCKLE INC,THE - 8.5 
HF    C- HAVERTY FURNITURE COMPANIES - 8.3 
APP    NR OLD NAVY/THE GAP INC - 8.0 
SR    E HANCOCK FABRICS INC CASE NUMBER 07-10353 - 7.7 
APP    A- DEB SHOPS INC - 7.7 


Falling Stars - Sharpest Decline

Industry Credit
Rating		 Company TY LY
APP    C WET SEAL INC 8.7 48.3
APP    D+ VANITY SHOPS OF GRAND FORKS INC - 4.3 23.7
APP    B+ JOS A BANK CLOTHIERS INC /DE/ - 6.1 12.9
APP    A- ABERCROMBIE & FITCH CO 6.0 24.0
APP    A- CHICOS FAS INC - 2.6 14.0
APP    NR DRESS BARN 0.0 15.0
APP    B- CACHE INC - 3.0 11.0
APP    A- DEB SHOPS INC - 7.7 4.7
APP    C+ PACIFIC SUNWEAR OF CALIFORNIA INC - 8.9 2.6
APP    E WILSONS THE LEATHER EXPERTS INC - 18.5 - 7.9


Industry Performance

Industry Industry Highest Median Lowest
RETAIL SECTOR
 18.0  1.3  - 22.0 
APP Apparel Stores 18.0  1.2  - 18.5 
CE Consumer Electronics - 22.0  - 22.0  - 22.0 
DEP Dept Stores & Catalogs 7.1  1.7  - 5.7 
DR Drug Stores 8.9  3.7  0.0 
FW Footwear Retail 6.1  4.3  2.4 
HF Home Furnishings - 8.3  - 8.7  - 9.1 
MM Mass Merchandisers-Retail 7.0  4.2  2.3 
RET Other Retail Stores 2.4  2.4  2.4 
SR Specialty Retail 13.0  - 0.4  - 7.7 
SG Sporting Goods Retail 4.7  4.7  4.7 


Industry Performance

The apparel sector once again outperformed its bretheren. However, the the difference is not nearly as evident as it was in July. Mass merchants had the highest median improvement and added the most to to rising stars list. Footwear Retail benefited from back to school purchases and had the best high and lows with no negative performances reported. Specialty retail has the biggest problems with high fuel prices, consumers appear to be staying away from destination shopping and hitting the mass merchants and big boxes to take care of their back to school needs.



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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