October Retail Round-Up
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Minyanville's Jeff Macke does some of the best analysis on the retail sector that you can find anywhere.
Here is the latest scorecard from professor Macke.
As you can see, there were big misses by Ambercrombie (ANF), American Eagle (AEO), Ann Taylor (ANN), Chicos (CHS), Dillards (DDS), The Gap (GPS), Hot Topic (HOTT), Kohls (KSS), Limited (LTD), Nordstrom (JWN), and Sharper Image (SHRP).
Macke's company by company thoughts can be found in October A Month to Forget For Retail.
This does not bode well for the upcoming Christmas season, retail sector hiring, or store expansion plans. Wal-Mart has already announced a second reduction in the number of U.S stores it will be building. I expect more cutbacks announcements from other stores. The above chart says why.
Mike Shedlock / Mish
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