Thursday, May 15, 2008

Retail Holding Up

Bloomberg just chimed in on retail earnings, noting that J.C. Penney, Kohl's, and Nordstrom beat analyst profit estimates.

The retailers accomplished the feat by "
clamp[ing] down on inventory, operating costs and store growth". Same store sales declined at all three retailers.

Macy's is the only retailer so far to report a net loss, due to consolidation costs.

Just something to chew on for those mulling retail right now...

J.C. Penny, Kohl's, Nordstrom Profit Beat Estimates - Bloomberg