Here come the retailers. After a string of positive consumer data showing confidence at a five-year high and decent same-store sales in October, many of our nation's top retail chains are set to report third-quarter earnings results this week. Forecasts from retailers like Wal-Mart and Target are arguably the best gauges of consumer strength now and the jam packed earnings lineup is sure to bring more clarity moving forward.
Until about four trading days ago the important retail sector was leading the industry group in the stock market.. This morning, the retail sector is leading the major stock market indexes lower. The important Market Vectors Retail HOLDRS ETF (NYSEARCA:RTH) is trading lower by 0.38 cents to $41.34. This ETF will have intra-day support around the $40.85 area.
Thursday morning saw Gap (NYSE: GPS) and Target (NYSE: TGT) post February same-store sales that topped the analyst's estimates. This is partly down to the fact that a winter that did not get anything like as cold as one would normally expect resulted in a boost in the purchases of spring clothing.
The Gap Inc (NYSE:GPS) is a global specialty retailer offering apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. The Gap Inc achieved its new 52 week high price of $23.57 where it was opened at $22.87 UP 0.54 points or +2.35% by closing at $23.52.
(GPS, CRWE, UPL, RAH) Stock Highlights by DoubleInStocks.com
(ELX, GES, GPS, GBLHF, TACT) Noticeable Stocks by PennyGovernance.com
(SWY, MJGCF, GPS, CHH) Stocks Report by PennyToBuck.com
Safeway Inc. (NYSE:SWY) announced that its Board of Directors met yesterday and declared a regular quarterly cash dividend of $0.145 per share. The cash dividend will be payable on January 12, 2012 to stockholders of record at the close of business on December 22, 2011.
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