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4-Traders Homepage  >  Equities  >  Nyse  >  L Brands Inc    

L BRANDS INC
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Retailers Are Posting Mixed Same-Store Sales For March

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04/05/2012 | 02:25pm CEST
   By Karen Talley 
   Of  
 

Retailers are generally reporting mixed sales for March, early reports show, with Limited Brands Inc. (>> Limited Brands, Inc.) a standout while Costco Wholesale Corp. (>> Costco Wholesale Corporation) faltered.

Limited Brands, which operates Victoria's Secret and Bath & Body Works, posted an 8% rise in March same-store sales when 4.4% was expected.

Costco posted a 5% gain in March same-store sales in the U.S. excluding gas, when 5.7% was expected. While Costco did have positive same-store sales in all departments, the retailer may be being undercut by the competition, retail analyst Brian Sozzi said.

Teen retailers are a mixed bag. Buckle Inc. (>> The Buckle, Inc.) said same-store sales increased 6.4%, when 8.8% was projected. Wet Seal Inc. (>> The Wet Seal, Inc.) same-store sales fell 7.8% when a 6% drop was projected. Zumiez Inc. (ZUMZ) posted a 14.1% rise in same-store sales when 8.9% was expected.

Rural department store chain Stage Stores Inc. (>> Stage Stores, Inc.) said same-store sales for March rose 4.7%, when 2% was expected, with accessories, children's, cosmetics, dresses and footwear all showing strength. Geographically, the Mid-Atlantic, Midwest, Northeast, South Central and Southwest regions all had comparable store sales gains during the month. The company cited warmer than normal weather and the earlier Easter for its solid showing, but said the holiday will have a negative impact on April comparable-store sales.

The misses by quite a few companies are surprising, analysts said. "March was an absolute bull month for the consumer, so it leads me to believe those retailers that fell short did not have products and prices that resonated with consumers," said Joel Bines, managing director of the retail practice at AlixPartners. "I think we're going to see some extremely strong results from the bigger players as they report."

A 5.3% rise in same-store sales is expected from the 18 retailers tracked by Thomson Reuters. The figure compares with a 1.7% gain a year ago, when Easter came two weeks later in April.

-By Karen Talley, Dow Jones Newswires; 212-416-2196; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
BUCKLE INC -1.94% 25.25 Delayed Quote.8.42%
COSTCO WHOLESALE CORPORATION -0.27% 198.36 Delayed Quote.6.58%
STAGE STORES INC -6.37% 2.94 Delayed Quote.90.48%
ZUMIEZ INC. 3.48% 25.3 Delayed Quote.21.49%
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Financials ($)
Sales 2019 13 067 M
EBIT 2019 1 452 M
Net income 2019 806 M
Debt 2019 4 356 M
Yield 2019 6,79%
P/E ratio 2019 12,38
P/E ratio 2020 11,73
EV / Sales 2019 1,09x
EV / Sales 2020 1,06x
Capitalization 9 897 M
Income Statement Evolution
Consensus
 
Mean consensus HOLD
Number of Analysts 27
Average target price 36,5 $
Spread / Average Target 2,8%
EPS Revisions
Managers
NameTitle
Leslie Herbert Wexner Chairman & Chief Executive Officer
Charles C. McGuigan Chief Operating Officer
Stuart B. Burgdoerfer Chief Financial Officer & Executive Vice President
Raymond Zimmerman Independent Director
Allan R. Tessler Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
L BRANDS INC9 897
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-2.36%102 972
KERING24.05%71 719
FAST RETAILING CO LTD4.72%46 270
ROSS STORES3.38%29 283
ZALANDO2.01%13 000