Tiffany's forecast spurs marketsWednesday, 12 January 2011
Index closed Tuesday at 1,218.2, after losing 10.17 points at the beginning of the week.
Retail stocks flip-flopped Tuesday in the wake of lackluster weekly sales data and a disastrous profit report from most hit by bad weather retail groups, along with robust earnings forecasts from Tiffany & Co.
Hanesbrands Inc. has the 3rd highest Return on Equity in this segment of the market, according to China Analyst. Its ROE was 43.80% for the last 12 months. Its net profit margin was 4.37% for the same period. Deckers Outdoor Corporation was also listed among top 10 companies in terms of Return on Equity as achieved the 7th highest position in this segment of the market. Its ROE was 27.82% for the last 12 months. Its net profit margin was 14.92% for the same period.
Another stock under spotlight on Tuesday was Lululemon Athletica, which went up 2.09%, to close at $68.40 and its overall traded volume was 1.74M shares on Monday, the stock had average daily volume of 1.99M shares. It opened at $67.48 and was trading within the range of $66.34-$69.39.
In USA, after four solid weeks, week-over-week retail sales declined 3.2%, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index.
Meanwhile, shares of Tiffany & Co.rose 1% after the luxury-goods retailer lifted its profit forecast and reported that holiday-season adjusted same-store sales rose 8%. For the year ending Jan. 31, Tiffany expects adjusted earnings from continuing operations of $2.83 to $2.88 a share, up from a November target of $2.72 to $2.77. Tiffany also forecast full-year sales of about $3.1 billion, ahead of the Wall Street view of $3.05 billion. In other retail action, shares of Wal-Mart Stores Inc. and Macy’s Inc.were all relatively flat.