Consumers Still on Suicide Watch

Most of the tally-taking of the holiday shopping season is reporting a joyous occasion marked by the revival of the consumer. This may have been evidenced by the Conference Board’s December reading of its Consumer Confidence Index Tuesday, as it rose to near a post-recession peak. However, I suggest you take a closer look, because you’ll see that the situation remains bleak.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relevant Tickers: NYSE: XRT, NYSE: WMT, NYSE: PIR, NYSE: ETH, Nasdaq: HOFT, NYSE: HD, NYSE: LOW, Nasdaq: AAPL, NYSE: BBY, NYSE: LTD, NYSE: CHS, NYSE: ANN, NYSE: GPS, NYSE: M, NYSE: JCP, NYSE: JWN, NYSE: TJX, NYSE: KSS, Nasdaq: COST, NYSE: TGT, NYSE: WMT, Nasdaq: WTSLA, Nasdaq: HOTT, NYSE: AEO, NYSE: ARO, NYSE: ANF, NYSE: SAK, NYSE: TIF, NYSE: TLB, NYSE: LL, Nasdaq: BLDR, NYSE: FO, NYSE: LEG, NYSE: TPX, NYSE: AYI, NYSE: LZB, Nasdaq: SCSS, NYSE: ZZ, NYSE: FBN, NYSE: NTZ, Nasdaq: SHLD, NYSE: DDS, Nasdaq: BONT, Nasdaq: CPWM, Nasdaq: BKRS, Nasdaq: BEBE, NYSE: BKE, Nasdaq: CACH, Nasdaq: CMRG, Nasdaq: CATO, NYSE: CBK, Nasdaq: CTRN, NYSE: PSS, Nasdaq: DEST, Nasdaq: DBRN, NYSE: DSW, Nasdaq: FINL, NYSE: FL, Nasdaq: GYMB, NYSE: GES, NYSE: JCG, NYSE: JNY, Nasdaq: JOSB, NYSE: NWY, NYSE: JWN, NYSE: MW, Nasdaq: SYMS, Nasdaq: PLCE.

Consumer Suicide Watch

At 64.5, the Consumer Confidence Index was up a bunch from November’s 55.2 mark. November, not coincidentally, saw the start of holiday shopping deals and also a 15 point surge from October’s 40.9 depressed state. So, it appears consumers’ pseudo-drunken state was the sole source of satisfaction. The same driver was likely behind the general rise in retailer shares over the last half of the year, but we have a warning about that as well, entitled, Sell Consumer Stocks Now, or something like that. Let’s be clear, an index reading 64.5 here does not mark a happy state of affairs, just a better state sadness.

Even Lynn Franco, the Director of the Conference Board Research Center, warned, ”While consumers are ending the year in a somewhat more upbeat mood, it is too soon to tell if this is a rebound from earlier declines or a sustainable shift in attitudes.” I still see mostly bad attitudes where I look. For instance, the Conference Board reports that the number of those surveyed who thought business conditions were good improved all the way up to 16.6%. Those who said business conditions were poor measured a far greater number, at 33.9%, but that was up from 38% the month before. Is this really good news?

Get this, those claiming jobs were plentiful improved to as high as 6.7%, way up from 5.6%. Meanwhile, those who felt like finding employment was difficult in December measured 41.8%, better than November’s 43%. Merry Christmas? Is this really a reason to spread holiday cheer by spending scarce dollars?

Most of the month’s confidence gains came in the expectations portion of the survey. In the past, I’ve warned that investing on this is like putting your money behind a hope and a prayer. Now, I’m the religious sort, but I tend to like to see some evidence of opportunity before investing on it. In the past, confidence gains driven by expectations have been proven easily deflated.

This latest measurement showed the Expectations Index rose to 76.4, up from 66.4. Take note now that the Present Situation Index measured a much lower 46.7, though up from 38.3. Those surveyed who saw business conditions improving over the next six months only increased to 16.7%, up from 13.7%. These gains from the prior month are what you are betting on if you invest on the basis of this month’s data. As you can see, the current state of affairs remains depressed. Of those surveyed, those anticipating improved job opportunities in the months ahead gained to just 13.3%, but that was up from 12.4%. Those who expected fewer jobs numbered a greater 20.2%, but that was improved from 23.8%.

The details of these reports are important, and it remains my pleasure to dissect the data and present it to you in easy reading form so that you may make informed investment decisions based on more than the porous reports of the traffic seeking popular press. The headlines of late have been preoccupied with the apparent positive shift in attitudes and lift in consumer spending, but I still see this economy on suicide watch.

Article interests investors in: S&P Retail ETF (NYSE: XRT), Wal-Mart (NYSE: WMT), Pier 1 Imports (NYSE: PIR), Ethan Allen (NYSE: ETH), Hooker Furniture (Nasdaq: HOFT), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Apple (Nasdaq: AAPL), Best Buy (NYSE: BBY), The Limited (NYSE: LTD), Chicos (NYSE: CHS), Ann Taylor (NYSE: ANN), The Gap (NYSE: GPS), Macy’s (NYSE: M), JC Penney (NYSE: JCP), Nordstrom (NYSE: JWN), TJX Company (NYSE: TJX), Kohls (NYSE: KSS), Costco (Nasdaq: COST), Target (NYSE: TGT), Wet Seal (Nasdaq: WTSLA), Hot Topic (Nasdaq: HOTT), American Eagle Outfitters (NYSE: AEO), Aeropostale (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF), Saks (NYSE: SAK), Tiffany (NYSE: TIF), Talbots (NYSE: TLB), Lumber Liquidators (NYSE: LL), Builders Firstsource (Nasdaq: BLDR), Fortune Brands (NYSE: FO), Leggett & Platt (NYSE: LEG), Tempur-Pedic International (NYSE: TPX), Acuity Brands (NYSE: AYI), La-Z-Boy (NYSE: LZB), Select Comfort (Nasdaq: SCSS), Sleepy’s (NYSE: ZZ), Furniture Brands (NYSE: FBN), Natuzzi (NYSE: NTZ), Sears (Nasdaq: SHLD), Dillard’s (NYSE: DDS), Bon-Ton (Nasdaq: BONT), Cost Plus (Nasdaq: CPWM), Baker’s Footwear (Nasdaq: BKRS.OB), Bebe Stores (Nasdaq: BEBE), The Buckle (NYSE: BKE), Cache (Nasdaq: CACH), Casual Male (Nasdaq: CMRG), Cato (Nasdaq: CATO), Christopher & Banks (NYSE: CBK), Citi Trends (Nasdaq: CTRN), Collective Brands (NYSE: PSS), Destination Maternity (Nasdaq: DEST), Dress Barn (Nasdaq: DBRN), DSW (NYSE: DSW), Finish Line (Nasdaq: FINL), Footlocker (NYSE: FL), Gymboree (Nasdaq: GYMB), Guess (NYSE: GES), J. Crew (NYSE: JCG), Jones New York (NYSE: JNY), Jos. A Banks (Nasdaq: JOSB), New York & Co. (NYSE: NWY), Men’s Wearhouse (NYSE: MW), Syms (Nasdaq: SYMS), The Children’s Place (Nasdaq: PLCE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Don't Buy into Consumer Confusion

Based on the hype of headlines from Black Friday through the holiday weekend and Cyber week, you would think consumers had been surprisingly free-spending of late. As that superficial view stirred my stomach into an acidic storm, I was compelled to take a closer look, plus an antacid tablet.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Consumer Confusion

Over the course of the last few weeks, we received data on the state of the consumer mindset, on November chain store sales, including the activity through the big bargain days, and motor vehicle sales. If you perused the headlines covering Black Friday and Cyber Monday, you noted so many “records” you might have gotten your old DJ equipment spinning again. It’s my belief that the press on the subject single-handedly stirred the stock market into a reckless rally. Investors bought into a phantom American buyer, while ignoring Fitch’s downgrade of the American outlook and S&P’s cutting of U.S. banks with international exposure and its warnings to France and Germany. The market also blew off a panic-stricken economic warning from the OECD as well. Neither did it mind that the European Union and U.S. Congress look set to stay divided until the end of us all!

The week ago period brought with it the monthly chain store sales data for November. Thomson Reuters reported that same-store sales for stores open for at least a year rose 3.1% in November year-to-year (3.2% based on ICSC data). Surprisingly enough, the growth was only about in line with analysts’ expectations, based on Thomson Reuters’ data. Furthermore, when taking into account population growth, the rate itself is not so impressive. Actually, the more I think about and analyze it, the less impressed I am.

Over the course of the last several years we’ve seen a move of shoppers down the ladder of value, with an increasing portion of America’s spending occurring in discount store chains and even deep discount or “dollar” stores. Indeed, Costco (Nasdaq: COST) noted 9% same-store sales growth for November last week. Wal-Mart (NYSE: WMT) does not report monthly, but we expect that given its decision to stay open on Thanksgiving and to start sales at 10:00 PM, it appears it did relatively well. Looking for shoes, I perused a Wal-Mart store and was surprised to see a passable pair of sneakers selling for just $15. If not for my concerns about long-term mobility and osteoporosis, I may have indulged in some frugal futility. Shoes, however, are a critical tool for a motivated entrepreneur, and cannot be sacrificed for savings.

At the other extreme, the luxury retail market has been recovering since panic eased among the richest of the rich post that March 2009 scare. There was also a brief period around the time Bernie Madoff topped the headlines, in which some of the rich were especially careful not to flaunt their wealth. However, in November, Saks (NYSE: SKS) posted same-store sales growth of 9.3% and Nordstrom saw sales soar 5.6%, each exceeding analysts’ expectations. With securities and alternative investment markets stabilized and much higher off those aforementioned panic-level lows, the rich feel free to spend again.

There’s now a deeper division though between the rich and the poor, leaving the middle ground retailers scrapping for profits. You’ll find department stores sourcing more goods at lower cost and driving more sales via creative marketing. Macy’s (NYSE: M) seems to have gotten ahead, doing well in recent years after a soft patch around the aforementioned economic turmoil. In November, Macy’s, which operates its stores by the same name and upscale brand Bloomingdales, saw same-store sales growth of 4.8%, also above expectations. However, J.C. Penney (NYSE: JCP), which held to its laurels and refrained from Thanksgiving infringement, suffered because of it. Its November same-store sales declined 2.0%. Still, opening early didn’t save Target (NYSE: TGT), which posted November chain store sales growth of just 1.8%, short of expectations. Perhaps the bad publicity around its Thanksgiving Day Grinch game plan and its disgruntled petition-signing employees kept shoppers away.

November’s sales growth may only highlight that shift we’re talking about in the number of shoppers desperate for value. In other words, many shoppers may be done now. They may have filled not only their holiday needs, but may very likely have cured all their current needs. We could very well see that illustrated in a dearth of shopping that could occur through December and into 2012 as a result. The latest ICSC Weekly Same-Store Sales data supports this view, as week-to-week sales dropped a sharp 2.3% in the post Black Friday period.

Analysts are waiting to see how the discounting that drove sales may have impacted profit margins. Also, given the early starting hours at the nation’s discounter, Wal-Mart (NYSE: WMT) and its rival Target (NYSE: TGT), their sales may have actually taken a bite out of economic value, not to mention bitten into the sales of department stores and specialists.

Yet, according to the popular press, consumers are feeling better for some unexplained reason. The most recent Conference Board reporting of Consumer Confidence showed a dramatic improvement, but from dire levels in October. The Board showed its Consumer Confidence Index gained to a mark of 56.0 in November, up from an obscene 40.9 in October. Much of the gains came in future expectations, which jumped to 67.8, from 50.0 in the prior month. I’m always wary of gains that come due to the volatile expectations query, since they are based on hope and prayer. Perhaps the holiday cheer got to some foolish folks, or too much eggnog fogged the view.

The press will point to the improvement in the unemployment rate in November, but half of that superficial gain was driven by a large drop in the workforce. While some speculate that this is due to demographics, or the retirement of our aging population, I say it’s more likely due to the depression of our long-term unemployed. The strict requirements of the check circulators can easily lead a depressed fellow to fall out of favor. Once cut off, he’s out for good, yet just as unemployed as he was the day before.

But motor vehicle sales surged in November, they’ll say, as Toyota (+6.7% NYSE: TM), Chrysler (+45%), GM (+6.9% NYSE: GM), Ford (+13% NYSE: F) and Nissan (+19% OTC: NSANY) reportedly did especially better than last year. Overall, the annual rate of motor vehicle sales was 13.6 million, up just a bit from 13.3 million in October. Domestic vehicle sales ran at an annual rate of 10.3 million, up from October’s 10.1 million pace, but short of expectations for 10.4 million, based on Bloomberg’s survey of experts. Given that interest rates are incredibly low, and the aging of vehicles on the road through the economic slug, I do not see a blockbuster pace of activity here. The improvement is notable, but not so awesome.

In summary, I suggest investors temper their enthusiasm tied to the latest consumer data. Instead, money minders might look at what is unfolding economically speaking across the Atlantic, where 20%+ of U.S. exports are sold. Political gridlock, both in Europe and in the United States, threatens to test the rating agencies, who hold too great a power at this critical juncture. Their untimely threats against European bookends, and their overhanging threat clouding the American sovereign rating, are not just reflections of current reality. They are also determinants of future upheaval. While the markets may rally on appetizing actions taken in Europe, the longer term seems, at least to me, to hold an unsavory entree’ in store. Therefore, take the latest consumer data lightly, and instead look at what might kill those hopeful expectations and spending in the near enough future.

Article interests investors in: S&P Retail ETF (NYSE: XRT), Wal-Mart (NYSE: WMT), Pier 1 Imports (NYSE: PIR), Ethan Allen (NYSE: ETH), Hooker Furniture (Nasdaq: HOFT), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Apple (Nasdaq: AAPL), Best Buy (NYSE: BBY), The Limited (NYSE: LTD), Chicos (NYSE: CHS), Ann Taylor (NYSE: ANN), The Gap (NYSE: GPS), Macy’s (NYSE: M), JC Penney (NYSE: JCP), Nordstrom (NYSE: JWN), TJX Company (NYSE: TJX), Kohls (NYSE: KSS), Costco (Nasdaq: COST), Target (NYSE: TGT), Wet Seal (Nasdaq: WTSLA), Hot Topic (Nasdaq: HOTT), American Eagle Outfitters (NYSE: AEO), Aeropostale (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF), Saks (NYSE: SAK), Tiffany (NYSE: TIF), Talbots (NYSE: TLB), Lumber Liquidators (NYSE: LL), Builders Firstsource (Nasdaq: BLDR), Fortune Brands (NYSE: FO), Leggett & Platt (NYSE: LEG), Tempur-Pedic International (NYSE: TPX), Acuity Brands (NYSE: AYI), La-Z-Boy (NYSE: LZB), Select Comfort (Nasdaq: SCSS), Sleepy’s (NYSE: ZZ), Furniture Brands (NYSE: FBN), Natuzzi (NYSE: NTZ), Sears (Nasdaq: SHLD), Dillard’s (NYSE: DDS), Bon-Ton (Nasdaq: BONT), Cost Plus (Nasdaq: CPWM), Baker’s Footwear (Nasdaq: BKRS.OB), Bebe Stores (Nasdaq: BEBE), The Buckle (NYSE: BKE), Cache (Nasdaq: CACH), Casual Male (Nasdaq: CMRG), Cato (Nasdaq: CATO), Christopher & Banks (NYSE: CBK), Citi Trends (Nasdaq: CTRN), Collective Brands (NYSE: PSS), Destination Maternity (Nasdaq: DEST), Dress Barn (Nasdaq: DBRN), DSW (NYSE: DSW), Finish Line (Nasdaq: FINL), Footlocker (NYSE: FL), Gymboree (Nasdaq: GYMB), Guess (NYSE: GES), J. Crew (NYSE: JCG), Jones New York (NYSE: JNY), Jos. A Banks (Nasdaq: JOSB), New York & Co. (NYSE: NWY), Men’s Wearhouse (NYSE: MW), Syms (Nasdaq: SYMS), The Children’s Place (Nasdaq: PLCE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Surprise! Surprise? Retail Sales Demise

Was anybody really surprised to learn that retail sales stalled in August? Apparently economists were, given their consensus forecast for growth of 0.2%, based on Bloomberg’s survey. Census Bureau data reported Wednesday showed retail sales actually stuck around the same mark set in July. Considering the damage DC and S&P brought to the stock market and consumer confidence through the summer, there should be no surprise about August retail sales dribble. The job now ahead of our government is how to restore confidence before an economic death spiral gains momentum.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relevant Tickers: NYSE: XRT, NYSE: WMT, NYSE: PIR, NYSE: ETH, Nasdaq: HOFT, NYSE: HD, NYSE: LOW, Nasdaq: AAPL, NYSE: BBY, NYSE: LTD, NYSE: CHS, NYSE: ANN, NYSE: GPS, NYSE: M, NYSE: JCP, NYSE: JWN, NYSE: TJX, NYSE: KSS, Nasdaq: COST, NYSE: TGT, NYSE: WMT, Nasdaq: WTSLA, Nasdaq: HOTT, NYSE: AEO, NYSE: ARO, NYSE: ANF, NYSE: SAK, NYSE: TIF, NYSE: TLB, NYSE: LL, Nasdaq: BLDR, NYSE: FO, NYSE: LEG, NYSE: TPX, NYSE: AYI, NYSE: LZB, Nasdaq: SCSS, NYSE: ZZ, NYSE: FBN, NYSE: NTZ, Nasdaq: SHLD, NYSE: DDS, Nasdaq: BONT, Nasdaq: CPWM, Nasdaq: BKRS, Nasdaq: BEBE, NYSE: BKE, Nasdaq: CACH, Nasdaq: CMRG, Nasdaq: CATO, NYSE: CBK, Nasdaq: CTRN, NYSE: PSS, Nasdaq: DEST, Nasdaq: DBRN, NYSE: DSW, Nasdaq: FINL, NYSE: FL, Nasdaq: GYMB, NYSE: GES, NYSE: JCG, NYSE: JNY, Nasdaq: JOSB, NYSE: NWY, NYSE: JWN, NYSE: MW, Nasdaq: SYMS, Nasdaq: PLCE.

Surprise! Surprise? Retail Sales Demise

Back to school or back to broke? The back to school shopping season tends to heat ahead of Labor Day, but this data is adjusted for seasonal variation, and so should not be seen as worse for it. And how bad is it really? On a year-over-year basis, sales were 7.2% higher. Even after adjusting for inflation, that’s not shabby growth. However, gasoline station sales increased 20.8% on a year-over-year basis, thus reflecting the rise in gasoline prices through the period. This leads one to wonder if gas padded the numbers. However, if we measure retail health excluding gasoline, it still doesn’t look that bad. Most of the categories listed in the report show better than inflation rates of growth on an annual basis. That said, and like I’ve often stated in the past, we slow before we stop and we stop before we reverse course.

The month-to-month 0.0% growth rate proved harder to digest because July’s growth was revised downward to +0.3%, from the initially reported 0.5% rise. The July data was reassuring to investors when reported, so this is like a rug has been pulled out from under us. Still, the stock market was higher through early afternoon trading Wednesday on the appeasement of investors by an Italian vote of confidence for its government and on the reassurances of Angela Merkel and other European leaders regarding a feared Greek default.

Surprising motor vehicle sales weakness cost the overall growth performance, as the rate excluding auto sales was a better +0.1%. Motor vehicle and parts dealers’ sales were reported down by 0.3% through the month. This was consistent with data reported at the start of September, with domestic auto sales estimated running at a 9.4 million annual rate, down from 9.5 million in July. Total auto sales were down to a rate of 12.1 million, from 12.2 million in July.

Significant softness was also seen in apparel sales (clothing & clothing accessories), which was reported down 0.7% month-to-month. And the August drop was preceded by a decline of 0.3% in July. Clothing is perhaps one of the more discretionary spends made by consumers. Department stores did especially poorly, with those sales down 0.3% month-to-month. That news has not hurt the stocks of the big boxes today, with shares of J.C. Penney (NYSE: JCP) up 4.1%, Macy’s (NYSE: M) up 2.8%, Kohl’s (NYSE: KSS) up 2.2% and Nordstrom up 0.3% at the hour of publishing here. Grocery store sales, an area of necessity, rose 0.5%; though food sales, like gasoline, may reflect rising pricing as well (Kroger NYSE: KR up 0.3%). Spending at restaurants and bars (food services and drinking places), which are certainly discretionary for most of us, declined by 0.3% in August; and that followed the 0.4% decline in July. Shares of Brinker International (NYSE: EAT) and Darden Restaurants (NYSE: DRI) are up 5.3% and 2.4%, respectively, nonetheless. This discretionary spending drop-off should make DC and S&P feel a little guilty, if either has a conscience, but it looks like investors in these companies expected worse news today.

Nonstore retailers, which is basically online business now (once dominated by catalog), saw a sales increase of 0.5% in August and a strong 10.4% increase year-over-year. This continues to be a market share story, as the web keeps grabbing business from the street. Perhaps a sign of renewing decline in housing, furniture and home furnishing stores saw a sales drop of 0.2% in August, and have only modest growth of 0.2% to report on a yearly basis.

Sporting goods and other hobby stores posted strong growth of 2.4% in August, and I continue to believe this is due to a little understood phenomenon among the tally takers. Heading into the school year, student athletes and musicians must restock on equipment and supplies for their game and music playing efforts. It’s my view that the seasonal adjustment has not been accounted for here, as I recall this happening in years past as well.

In conclusion, the decline in August, following a moderated growth rate in July, can be directly attributed to Washington D.C. and to Standard & Poor’s in my opinion. The two perhaps equally responsible entities managed to scare the consumer, both employed and unemployed, into their bunkers. The capital destruction that occurred in the stock market on dire debt ceiling debate and the prospective economic collapse threatened by a downgraded sovereignty kept Americans focused on preservation of capital, and perhaps food as well. Hopefully, American confidence can be restored as quickly as it was damaged, but it appears a self-feeding down spiral is more likely.

Article interests investors in: S&P Retail ETF (NYSE: XRT), Wal-Mart (NYSE: WMT), Pier 1 Imports (NYSE: PIR), Ethan Allen (NYSE: ETH), Hooker Furniture (Nasdaq: HOFT), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Apple (Nasdaq: AAPL), Best Buy (NYSE: BBY), The Limited (NYSE: LTD), Chicos (NYSE: CHS), Ann Taylor (NYSE: ANN), The Gap (NYSE: GPS), Macy’s (NYSE: M), JC Penney (NYSE: JCP), Nordstrom (NYSE: JWN), TJX Company (NYSE: TJX), Kohls (NYSE: KSS), Costco (Nasdaq: COST), Target (NYSE: TGT), Wet Seal (Nasdaq: WTSLA), Hot Topic (Nasdaq: HOTT), American Eagle Outfitters (NYSE: AEO), Aeropostale (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF), Saks (NYSE: SAK), Tiffany (NYSE: TIF), Talbots (NYSE: TLB), Lumber Liquidators (NYSE: LL), Builders Firstsource (Nasdaq: BLDR), Fortune Brands (NYSE: FO), Leggett & Platt (NYSE: LEG), Tempur-Pedic International (NYSE: TPX), Acuity Brands (NYSE: AYI), La-Z-Boy (NYSE: LZB), Select Comfort (Nasdaq: SCSS), Sleepy’s (NYSE: ZZ), Furniture Brands (NYSE: FBN), Natuzzi (NYSE: NTZ), Sears (Nasdaq: SHLD), Dillard’s (NYSE: DDS), Bon-Ton (Nasdaq: BONT), Cost Plus (Nasdaq: CPWM), Baker’s Footwear (Nasdaq: BKRS.OB), Bebe Stores (Nasdaq: BEBE), The Buckle (NYSE: BKE), Cache (Nasdaq: CACH), Casual Male (Nasdaq: CMRG), Cato (Nasdaq: CATO), Christopher & Banks (NYSE: CBK), Citi Trends (Nasdaq: CTRN), Collective Brands (NYSE: PSS), Destination Maternity (Nasdaq: DEST), Dress Barn (Nasdaq: DBRN), DSW (NYSE: DSW), Finish Line (Nasdaq: FINL), Footlocker (NYSE: FL), Gymboree (Nasdaq: GYMB), Guess (NYSE: GES), J. Crew (NYSE: JCG), Jones New York (NYSE: JNY), Jos. A Banks (Nasdaq: JOSB), New York & Co. (NYSE: NWY), Men’s Wearhouse (NYSE: MW), Syms (Nasdaq: SYMS), The Children’s Place (Nasdaq: PLCE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.