Retail Sales Preview: July Expected to Score for Same-Store Sales
Retail industry (NYSE:XRT) data monitor Retail Metrics is expecting a strong month in terms of same-store sales in July. 24/7 Wall St. reports that the data gatherer is expecting monthly gains of 4.7% in YoY same-store sales, which would mark the 23rd consecutive monthly increase in retail sales. The expected and winners and losers in the month of July:
Winners: Retail Metrics says the biggest winners sector wide will be discounters, teen apparel, Drugstore, and “Wal-Mart (NYSE:WMT) related stores.” On an individual basis, stores expected to post large gains are Lululemon Athletica Inc. (NASDAQ:LULU) +16.5%, PriceSmart Inc. (NASDAQ:PSMT) +16.0%, Body Central Corp. (NASDAQ:BODY) at +11.8%, Buckle Inc. (NYSE:BKE) at 11.0%, Chico’s FAS Inc. (NYSE:CHS) at +10.4%, and Tiffany & Co. (NYSE:TIF) +10.2%.
Same stores retail sales data is excepted to start coming in later in the week, though many analysts are now increasingly skeptical of optimistic monthly forecasts in light of the downtrend in consumer spending (-0.2%) and the meager gains in personal income (0.1%) reported earlier in the day.