Holiday Retail Sales Estimates Rolling In (BONT, JCP, JWN, HGG, BBY)
According to Bloomberg, the International Council of Shopping Centers, which tracks sales trends at more than 30 chains for stores open by at least a year, is forecasting holiday sales growth of between 3% and 3.5%, which would mark the best performance since 2006, when the national unemployment rate was less than 5% in November and December, and the Dow was trading above 12,000. Last month Delloitte forecast 2% holiday sales growth from November through January, to a total of $852 billion.
A look at tickerspy’s 11 retail subsector Indexes shows that more than half have posted double-digit rallies amide the equity run over the last month.
One-month winners across the retail spectrum include department stores Bon-Ton Stores (BONT), J C Penney (JCP), and Nordstrom (JWN), and electronics retailers HHGregg Inc (HGG) and Best Buy Co. (BBY), all of which have gained more than 20% for the period.
It will be interesting to see whether strong holiday sales prospects can help the various retail segments maintain their recent momentum. Investors can track 11 retail subsector Indexes for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Best Buy (NYSE:BBY) Blackberry Deal (Stock Briefings, 10/1/10)
Best Buy Co. (NYSE:BBY) Seeks Modest Growth In The UK (Stock Briefings, 10/5/10)
Oppenheimer Upgrades Best Buy Co. to Outperform (BBY) (Benzinga, 9/20/10)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2010 Indie research Corp. All rights reserved.|