Oppenheimer issued a report of the expected outcome of the retail earnings reported this week from New York & Company Inc. NWY, Pacific Sunwear of California, Inc. PSUN, Lululemon Athletica Inc. LUL and Ross Stores Inc. ROST.
In the report Oppenheimer writes, "There should be limited 4Q surprises given all gave updated guidance: PSUN (1/6), NWY (1/6), LULU (1/11) and ROST (2/3). Among them, PSUN and NWY are most at risk to a post-guidance slowdown given Northeast exposure. Similar to recent calls, anticipate questions will focus on product costs, ability to take pricing, inventory management, the fashion shift and international/DTC growth. Also expect a greater emphasis on food/gas costs. While trends at NWY, LULU and ROST remain solid and all should continue to perform well through YE, believe most upside exists at NWY given impact of new management. Although PSUN has had false starts, near term we're excited about the recent private-label bikini launch, which should generate positive buzz."
NWY and PSUN both have an Outperform Rating. LULU and ROST both have a Perform Rating.
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