Friday, September 11, 2009

Retail Stock Surprise: Sears Tops Poll

NEW YORK (TheStreet) -- Department stores, on the whole, rallied this week, but surprisingly Sears(SHLD Quote) ranked as the winner in sector among TheStreet readers.
Sears was favored as the hottest stock with 31.5% of the total vote, beating out Kohl's(KSS Quote), which has -- unlike Sears -- been a consistent winner in the sector.
Jim Cramer said in his State of the Market report on Wednesday that Sears is garnering too much attention.
Still, investors sent shares of the company up 3% this week to close at $64.18.

Kohl's came in a close second with 27.5% of the vote. Earlier in the month, the company reported a 0.2% jump in August same-store sales, surpassing analysts' expectations of a 1.7% decline. Kohl's has won over shoppers with its private-label and exclusive merchandise at wallet-friendly prices.
Shares of the company grew 2.5% to close at $55.18 on Friday.
J.C. Penney(JCP Quote) came in third in the survey at 17.8%.
On Friday, that company launched "she said," a contemporary career sportswear brand catering to the female professional.
Experts predicted the company would perform better in August from the back-to-school sales increase, but it fell short of expectations, with same-store sales sinking 7.9%, lower than the 6.7% drop forecast.

Dillards(DDS Quote) placed fourth in the poll with 13.8%, while shares of the company soared 11% to close at $12.84 on Friday.

Macy's(M Quote) ranked last with only 9.4% of the total vote. The department store has been struggling to rein in shoppers, and in the second quarter it was dragged down by its furniture, mattress and handbag segments.
Same-store sales in August tanked by 8.1%, more than the 7.4% decline expected by analysts. Regardless, shares of the company closed off the week up 6% to $16.09.
-- Reported by Jeanine Poggi in New York
Follow on Twitter and become a fan on Facebook.


No comments:

Post a Comment