Amid 'Uninspiring Traffic' In Softlines, TJX, L Brands, Express, Ross Are 'Market Share Winners For Holiday'
Just a couple of weeks ahead of Christmas, traffic at softlines retailers was quite soft – no pun intended, MKM analyst Roxanne Meyer assured. There were, nonetheless, a couple of notable exceptions where traffic was robust: L Brands Inc (NYSE: LB)’s Victoria’s Secret and Bath & Body Works.
Outside malls, the analysts believe off-prices’ shares continue to surge this holiday season, and noted TJX Companies Inc (NYSE: TJX)’s “strong presentation of gift-giving and assortment of global brands including a healthy assortment of luxury items.”
The firm continues to view TJX, L Brands, Express, Inc. (NYSE: EXPR) and Ross Stores, Inc. (NASDAQ: ROST) as “market share winners for holiday.”
Holiday Promotions
The report then went on to look at promotions.
These bands saw an uptick in promotions this week when compared to last year:
- Urban Outfitters, Inc. (NASDAQ: URBN)’s Anthropologie
- Banana Republic
- Chico's FAS, Inc. (NYSE: CHS)
- Gap Inc (NYSE: GPS)
- Gap’s Old Navy
- Victoria’s Secret
On the other hand, the following brands witnessed a downtick in promotions this week versus last year:
- Express
- White House Black Market
And, with flattish promotional activity:
- Bath & Body Works
- Urban Outfitters
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Image Credit: Public Domain
Latest Ratings for LB
Date | Firm | Action | From | To |
---|---|---|---|---|
Dec 2021 | RBC Capital | Maintains | Outperform | |
Dec 2021 | CIBC | Upgrades | Underperformer | Neutral |
Nov 2021 | RBC Capital | Maintains | Outperform |
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