2010 saw the beginning of Retail stocks trading on a positive note as analysts projected December sales likely turned out better than Wall Street initially expected.
¡°Bolstered by last-minute shopping heading to Christmas and consumers snatching up post-holiday bargains in the last week of the month, retailers likely made or exceeded their plans for December, their biggest selling month of the year¡±, analysts said.
However, at the same time analysts were worried about that any upside may be limited by the snowstorm hitting the mid-Atlantic and Northeast regions the weekend before Christmas. Tiffany & Co. rose 2.9% after it was upgraded to buy from hold by Jefferies & Co. Gap Inc. dropped 1.1% after Jefferies cut its rating on the stock to hold from buy. Another famous analyst Randal Konik said luxury retailers likely will outperform value-oriented stores. ¡°Growth stocks will also likely be back in favor over turnaround stories¡±, he said.
According to a Financial Times report citing the head of WalMart's U.S. stores, the world's largest retailer was determined to cut expenditure by combining purchasing for several countries.

TIFFANY & CO. Return to Tiffany Heart tag necklace

Tiffany & Co. Elsa Peretti Open Heart pendant

Wednesday, January 06, 2010