Four major retailers stretching from mass to class took a cautious stance about the outlook for the second quarter, and it was enough to send retail stocks into a swoon.

Wal-Mart Stores Inc., Saks Inc., Abercrombie & Fitch Co. and The TJX Cos. Inc. on Tuesday all delivered bottom-line results in the first quarter that were not only better than the depressed ones of a year ago but also ahead of Wall Street estimates. However, all hedged their bets in some fashion, whether through forward-looking guidance that disappointed Wall Street, as with Wal-Mart and TJX, or with a deceleration of strategy for Europe, as evidenced by A&F’s stringent margin standards for expansion on the Continent, itself the focus of considerable economic turmoil in recent months.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus