Large expectations about Macy´s, Saks & NordstromWednesday, 04 April 2012
Stocks fell shyly Tuesday in the wake of the latest meeting of the
Federal Reserve's policymakers. However, many listed companies from the apparel industry broke through, following the path of Macy´s, Saks, Nordstrom or Kohl´s.
In the US, the Dow Jones lost 1%, the S&P 500 1% and the Nasdaq 0.7%. Analysts in Wall Street pointed out that Michael Kors (KORS) climbed 2%, trading “in a relatively tight band”after a three-month run-up that saw the stock more than double from its IPO price.
CNB News reported how Macy's is expected to keep up its solid showing with a 4.8% same-store sales gain. In the meanwhile, high-end peers Saks (SKS)and Nordstrom (JWN) likely continued to be big winners, added ´Market Watch’. Analysts see a 6.3% rise for Saks and a 5.7% gain for Nordstrom.
In the same vein, middle class department-store rival Kohl's (KSS) is seen reporting a 2.1% increase and Gap seems to be leving behind earlier problems by continuing February's rebound in same-store sales with a 4.4% hike in March. Closing the chapter for off-price retailers, Ross Stores (ROST) and TJX Cos. (TJX) likely continued to perform well, advanced market observers. Analysts estimate Ross will see a 4.8% increase and TJX will post a 4.7% gain, reported ‘IBD’.