Retailers fell Monday as analysts expected slow summing spending trends to continue on in September due to warm weather. Janney Capital Markets’ analyst Adrienne Tennant anticipates earnings estimates for teen retailers will have to be reduced in the fourth quarter as a result of current spending patterns. Separately, Stern, Agee & Leach analyst Ike Boruchow wrote, "With the exception of the very promotional Labor Day weekend, mall traffic has been flat to negative every week since early June".
The Gap Inc. (NYSE: GPS) shares traded in the range of $39.59 to $40.19 Monday before settling to close at $39.71, a decrease of 1.97 percent. The stock appears to be facing some resistance at the $40.41 and $40.96 levels with some support at $39.37. Shares of The Gap have gained approximately 28.0 percent in 2013.
More information on The Gap and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GPS
Nordstrom, Inc. (NYSE: JWN) shares traded in the range of $56.32 to $56.89 Monday before settling to close at $56.64, a decrease of 0.86 percent. The stock appears to be facing some resistance at the $56.69 and $57.49 levels with some support at $56.20. Shares of Nordstrom have gained approximately 6.0 percent in 2013.
More information on Nordstrom and access to the free equity report can be found at:
www.WallStreetFundamentals.com/JWN
Kohl's Corporation (NYSE: KSS) shares traded in the range of $51.87 to $52.35 Monday before settling to close at $51.92, a decrease of 1.12 percent. The stock appears to be facing some resistance at the $52.25 and $52.77 levels with some support at $51.54. Shares of Kohl's have gained approximately 20.0 percent in 2013.
More information on Kohl's and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KSS
Macy's, Inc. (NYSE: M) shares traded in the range of $42.99 to $43.64 Monday before settling to close at $42.99, a decrease of 2.45 percent. The stock appears to be facing some resistance at the $43.76 and $45.68 levels with some support at $42.80. Shares of Macy's have fallen approximately 10.0 percent in 2013.
More information on Macy's and access to the free equity report can be found at:
www.WallStreetFundamentals.com/M
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