Nomura Securities June Retail Sales Preview
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Rating Summary:
38 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 0 | New: 0
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Nomura Securities June Retail Sales Preview by Paul Lejuez
Lejuez said, "Although we expect there was some pent-up demand in June following cooler weather over the past few months, we believe promotional levels were high as retailers worked to clear through remaining spring merchandise. We believe both TJMaxx (NYSE: TJX) and Ross Stores (Nasdaq: ROST) will exceed consensus comp expectations for June and could each upwardly revise 2Q earnings guidance. We believe American Eagle (NYSE: AEO) will miss 2Q consensus EPS of $0.11 (we are at $0.07) and may need to preannounce, which could happen the day June sales are reported (7/7). We do not expect estimate revisions from any other monthly reporters (Limited (NYSE: LTD) and Gap (NYSE: GPS) do not typically comment until the third month of the quarter)."
Lejuez said, "Although we expect there was some pent-up demand in June following cooler weather over the past few months, we believe promotional levels were high as retailers worked to clear through remaining spring merchandise. We believe both TJMaxx (NYSE: TJX) and Ross Stores (Nasdaq: ROST) will exceed consensus comp expectations for June and could each upwardly revise 2Q earnings guidance. We believe American Eagle (NYSE: AEO) will miss 2Q consensus EPS of $0.11 (we are at $0.07) and may need to preannounce, which could happen the day June sales are reported (7/7). We do not expect estimate revisions from any other monthly reporters (Limited (NYSE: LTD) and Gap (NYSE: GPS) do not typically comment until the third month of the quarter)."
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