All GLG News Analyses Filed Under: Retail

Zale trying to come out from Recession

May 28, 2009

Analysis by: GLG Expert Contributor

Analysis of:Zale Reports Third Quarter Fiscal 2009 Results | www.businesswire.com

Zale 3rd Quater sale fell by 20%. Gross Margina bit high but same store sales decline by 20%. 

Nicholas WhitePresidentWhite & Co

Will Zale Succumb to Its Self-Inflected Wounds?

May 27, 2009

Analysis of:Zale Reports Third Quarter Fiscal 2009 Results | www.businesswire.com

Zale reported SIGNIFICANTLY lower than expected sales and earnings for its third quarter in the face of higher stock prices only a day earlier.  Either faith in Zale springs eternal or traders got surprised by the dynamics of the jewelry business in general and Zale specifically.  Here’s more.

Sears Holding tactics "work"....but for how long?

May 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:Sears Swings to a Profit and Secures New Credit | online.wsj.com

The critical aspects of the first quarter results are three compelling numbers.  Comp store declines, inventory decline, and the massive reduction in selling and admin expense.  Comp stores declined in virtually every major category at Sears (despite the "housing" related p.r.), and primarily in apparel for Kmart.  The major component of SG&A reduction was advertising.  Inventories did not match comp store decreases.  Adding up all these numbers presents a less than rosy outlook.  Yes, GM went up 130 basis points.  Perhaps, appropriate markdowns were delayed to make that happen.  With inventory down only 7% and comp stores down close to 10%, the GM basis point gain is probably not sustainable through the next quarter.  The $100 million reduction in ad spending too will be seen most in the coming quarters.

Kenneth LeonardPrincipalLeonard Associates

Comp Stores Down $1 Billion But 1Q Profits Up $26 Million!

May 25, 2009

Analysis of:Sears Swings to a Profit and Secures New Credit | online.wsj.com

Sears Holdings announced an unexpected profit for the 1Q 2009 of $26 million or 21 cents a share compared to a loss of $56 million or 43 cents a share for 1Q 2008.   What an amazing performance, made even more amazing by the fact that its' sales were down by over $1 billion or 7.4% for Sears and 2.1% for Kmart. In fact since Mr. Lampert took over the reigns he has yet to show a single quarter where he has not lost market share to the likes of Wal-Mart and Target. In light of the above, how should the GLG reader interpret this sudden emergence of profits?

Nicholas WhitePresidentWhite & Co

Are Sears Holdings (SHLD) Surprise Earnings Irrelevant?

May 25, 2009

Analysis of:Sears Holdings Reports First Quarter Results and Extension of Its Credit Facility | news.prnewswire.com

Sears Holdings surprised Wall Street analysts by posting increased first quarter earnings versus the Streets expectation of a loss. But just how relevant is the earnings surprise to SHLD's turn around?  for the answer, here's more.

Nicholas WhitePresidentWhite & Co

Does Zale's Higher Stock Price Signal a Recovery?

May 22, 2009

Analysis of:Zale Soars 28% in Sign of Jewelery Recovery | www.thestreet.com

Does Zale's higher stock prise signal a arecovery or is it a consequece of the companies instability?  Here's more.

James GouldPresidentThe Floor Covering Institute

Light at the End of the Tunnel?

May 12, 2009

Analysis of:SAP CEO Sees Signs of Economic Recovery | www.forbes.com

Everyone is anxious to see the first signs of an economic recovery.  Recent numbers have given fuel to the most optimistic that we have reached bottom and are coming out of this recession.  A closer look at the data reveals that the recovery still has a number of major obstacles to clear before we can move forward.

How will fewer video game titles affect fall sales.

May 11, 2009

Analysis by: GLG Expert Contributor

Analysis of:Analysts See Rough April 2009 for Gaming Industry | www.gamedaily.com

This article is just the first warning of an overall problem int he video game industry. The economic slowdown has made it more difficult for video game publishers to finance development of new titles. Many publishers are cutting back on the number of titles they are publishing, which will mean fewer games being released this fall and well into 2010. Fewer game titles will mean less choice for consumers.

Recent Retail Assessment = Continued Downer for 2010 Supply Chain Recovery

May 7, 2009

Analysis by: GLG Expert Contributor

Analysis of:Stores won't buy into rebound talk | money.cnn.com

According the 5/7/09, CNN Money article, many retailers are planning for a Q2-Q4, 2010 recovery.   The latest retail demand forecast is not good news for global supply chain providers.

Nicholas WhitePresidentWhite & Co

Investors Need More Information About Zale (ZLC)

May 6, 2009

Analysis of:Best Performing Stocks During the Rally | seekingalpha.com

Zale has been one of the best performing stocks in the recent market rally.  But does the increase signal a stronger company and a strengthening industry or just an irrational market.  Here's why investors may need more than technical tools and fundamental analysis to decide.

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