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CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
Company same-store sales: up 2.7 percent
PacSun stores: up 5.4 percent
Demo stores: down 15.4 percent
PacSun stores breakdown
Regions: All regions strong except desert Southwest.
Company pleased with strength of full priced merchandise.
Girls apparel: Up low 20s percent. Lead by Bullhead denim, shorts and tops.
Guys apparel: Up mid-single digits. Lead by tops, swim and shorts. Denim weak.
Footwear: Down overall. Guys sneakers comped positive in back half of the month. Girls sneakers positive for the entire month.
Demo: Continues to struggle, especially young mens, which was weak in all categories.
Company same-store sales: up 13.9 percent
Factors: Driven by new stores, same store sales growth, more transactions and increase in average unit retail price.
Strongest category: Mens
Other news: Remains on track to open 50 stores in 2007.
Company same-store sales: down 2.7 percent, within guidance range.
Guidance: October same-store sales expected to be down 1 to 2 percent.
Company same-store sales: up 3.2 percent
Details: September sales did not achieve plan of 4 to 5 percent same store sales gain. Inventories above plan. Taking markdowns, which will hurt profit margins.
Strong regions: South, Northwest, Midwest
Strong categories: Womens designer apparel and accessories, mens apparel.
Guidance: October same-store sales likely below plan. Third quarter earnings lowered to $0.50 to $0.53 per share from $0.61 to $0.64 per share.
Company same-store sales: up 10.9 percent
Men's: up 20.5 percent led by denim, women and knit tops and sweaters. Price points up.
Women's: Up 12 percent led by denim, woven and knit tops, outerwear and footwear. Price points up.
Accessories: down 7 percent for mens and womens combined.
Footwear: down 10 percent for mens and womens combined
Same-store sales: down 7 percent
Details: Guys flat, girls down low double digit.