Retail sector down after holiday same-store sales results, outlook announcements, analyst downgrades

[marmar]

(MarketWatch) Major retailers across the sector are down in Friday trading after analyst downgrades, disappointing holiday season same-store sales and quarterly forecasts that are causing concern. American Eagle Outfitters, Inc. AEO, -16.63% has plummeted 16% after it said it could miss fourth-quarter guidance. The company, which reports earnings on March 2, said same-store sales are up 4% for the quarter so far, below the FactSet consensus of 4.9%. Gap Inc. GPS, -14.45% shares are down 15.2% in trading after the company reported negative same-store sales across its three brands - Gap Global, Old Navy, and Banana Republic. Nordstrom Inc. JWN, -4.60% is down 4.5% after a week in which its stock was downgraded by anumber of analysts. And Macy's Inc. M, -2.82% is down 2.9% after it said that holiday same-store sales were down 4.7%, though there had been some positive reaction to the company's announced cost-cutting measures. Also down today are Kohl's Corp. KSS, -5.95% (6.4%), Coach Inc. COH, -2.74% (2.6%), Tiffany & Co. TIF, -3.45% (3.1%), Target Corp. TGT, -2.94% (2.8%), and Kate Spade & Co. KATE, -2.91% (2.2%).

http://www.marketwatch.com/story/retail-sector-down-after-holiday-same-store-sales-results-outlook-announcements-analyst-downgrades-2016-01-08

[Wellstone ruled]

1. A Retail Manger said yesterday that

this XMAS sell season was a major bust. And all the Stores in his District were in the same fix. Appears the bulk of the Consumers are starting to wake up to the hype and select usable items and not junk. Same fellow said that they saw a major increase in Gift Card Sales,but that is not helping his Inventory of on hand goods The few stores we use had way to much Inventory and you just knew there was going to be issues.