Industry: This week, our Aggregate Visits data set continued to trend lower with YY change decelerating to -6.3% from -5.7%. On a 5Wk avg basis, visits ROC remained flat given the major spike two weeks ago. Continuing the visits/comp sales divergence, Redbook Retail Sales saw an acceleration from +3% YY to +3.4% this week. We are still supremely bearish on retail as a whole given the weakening consumer and deteriorating economic backdrop.
- Notable Industry Callouts: This week we saw a 2-point deceleration in clothing, a 3.5 point deceleration in recreational and sporting goods, and a 2.7 point acceleration in discount & dollar stores. These select subsector data points possibly demonstrate how the consumer is thinking about spending in this tighter environment. Less dollars toward more discretionary purchases and increased spending at cheaper discount and dollar stores for more savings.
Companies: Numbers below = YoY Rate of Change from week to week
- Notable Accelerations: Kay Jewelers Outlet +18%, Casual Male XL +12%, West Elm +11%, Athleta +10%
- Notable Decelerations: Tiffany & Co. -15%, Tractor Supply Co. -11%, Bloomingdale’s Outlet -11%,
Earnings Look Ahead: 2-Weeks Out
RH (RH--Best Idea Long): Consensus Sales Expectation: -12.9%
Dollar Tree (DLTR): Consensus Sales Expectation: +6.7%
Petco (WOOF): Consensus Sales Expectation: +0.5%
La-Z-Boy (LZB): Consensus Sales Expectation: -6.9%
Charts
- Industry
- Companies
Source: Placer.ai
