BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Saks (SKS) and Nordstrom (JWN) out of fashion at Credit Suisse ]]>http://www.bloggingstocks.com/2009/05/28/saks-sks-and-nordstrom-jwn-out-of-fashion-at-credit-suisse/http://www.bloggingstocks.com/2009/05/28/saks-sks-and-nordstrom-jwn-out-of-fashion-at-credit-suisse/http://www.bloggingstocks.com/2009/05/28/saks-sks-and-nordstrom-jwn-out-of-fashion-at-credit-suisse/#commentsFiled under: , ,

Things aren't looking so luxurious for the shareholders of Nordstrom, Inc. (NYSE: JWN) and Saks Inc. (NYSE: SKS) today. Shares of both of these upscale department-store chains are seeing red today following negative words from Wall Street.

As Eric Buscemi noted this morning, JWN was cut to "underperform" from "neutral" at Banc of America/Merrill Lynch. Nordstrom was also sliced to "neutral" from "outperform" at Credit Suisse, citing valuation and concerns about the environment for mall anchors. Credit Suisse did maintain its price target of $22.

Continue reading Saks (SKS) and Nordstrom (JWN) out of fashion at Credit Suisse

Saks (SKS) and Nordstrom (JWN) out of fashion at Credit Suisse originally appeared on BloggingStocks on Thu, 28 May 2009 12:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>credit suisseCreditSuissedepartment storeDepartmentStoredowngradeinthenewsjwnnordstromsakssksThu, 28 May 2009 12:20:00 EST<![CDATA[Macy's: Uptrend is at odds with consumer confidence numbers]]>http://www.bloggingstocks.com/2009/02/24/macys-uptrend-is-at-odds-with-consumer-confidence-numbers/http://www.bloggingstocks.com/2009/02/24/macys-uptrend-is-at-odds-with-consumer-confidence-numbers/http://www.bloggingstocks.com/2009/02/24/macys-uptrend-is-at-odds-with-consumer-confidence-numbers/#commentsFiled under: ,

Perhaps Wall Street missed the memo "Sell the news." Macy's (NYSE: M), the largest department store company in the country, beat analyst estimates by roughly 5.2% with a fourth quarter adjusted profit of $1.06 per share. Punters sent shares up smartly on the news, over 4%.

That same morning, we got the worst CCI numbers on record -- below the 30-point range. The Piqqem Sentiment on Macy's has flat-lined after some uptick, implying today's swing could be a dead-cat bounce.


Continue reading Macy's: Uptrend is at odds with consumer confidence numbers

Macy's: Uptrend is at odds with consumer confidence numbers originally appeared on BloggingStocks on Tue, 24 Feb 2009 15:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>department storeDepartmentStoredillardsearnings reportsEarningsReportsmacysNordstromsrecessionretail stocksretailersRetailStocksTue, 24 Feb 2009 15:50:00 EST<![CDATA[Worst 10-year performers: Dillard's drops to bargain-basement prices]]>http://www.bloggingstocks.com/2008/07/26/worst-10-year-performers-dillards-drops-to-bargain-basement-pr/http://www.bloggingstocks.com/2008/07/26/worst-10-year-performers-dillards-drops-to-bargain-basement-pr/http://www.bloggingstocks.com/2008/07/26/worst-10-year-performers-dillards-drops-to-bargain-basement-pr/#commentsFiled under: ,

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

As a mid-market department store, Dillard's (NYSE: DDS) was in the wrong place at the wrong time when a slowdown in spending spread across the U.S. A staggering spike in energy and food prices, as well as a nationwide foreclosure crisis, first hit consumers during the first half of 2007. The middle class couldn't help but notice its discretionary income shrinking with each paycheck, and average Americans found themselves with fewer and fewer reasons to plan a trip to the mall.

What went wrong? At number 21 on our list of SPX laggards, DDS lost 72% of its value during the 10-year period that ended June 30, 2008. The equity's sharpest losses have also been its most recent; after hitting a near-term peak of $40.56 in May 2007, DDS took a 71.4% haircut over the next 13 months. The decline was sparked by a weak earnings report on the 23rd of that month, when Dillard's missed the Street's earnings expectations by a staggering 20 cents per share.

Last August, Dillard's proved once again that analysts were too optimistic. The company lost 31 cents per share in its second quarter, compared to expectations for a loss of just 1 penny per share. In April 2008, the beleaguered department store narrowly dodged a proxy battle by awarding a board seat to a nominee proposed by irate shareholder group Barington Capital. Properly chastised by the sharp decline in its share price, Dillard's also announced plans to shutter underperforming stores, reduce capital expenditures, and ramp up the quality of its merchandise.

Continue reading Worst 10-year performers: Dillard's drops to bargain-basement prices

Worst 10-year performers: Dillard's drops to bargain-basement prices originally appeared on BloggingStocks on Sat, 26 Jul 2008 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer spendingDDSdepartment storeDillardsSat, 26 Jul 2008 13:30:00 EST