Coach Bags Another Quarter

Other News: Target, Federated

In other retail news, Target(TGT Quote - Cramer on TGT - Stock Picks) recently slipped $1.43, or 2.3%, to $60 after warning of slow April sales and lowering revenue projections for the month. The retailer said it expected same-store sales for the March-April time period to increase 3% to 4%, compared with the company's earlier expectations of 4% to 6%.

Target said that it remained comfortable that first-quarter earnings-per-share growth would be consistent with its earlier full-year guidance of a mid- to high-teen percentage increase.

Federated Department Stores(FDS Quote - Cramer on FDS - Stock Picks) was also off slightly. Chairman and CEO Terry Lundgren said during a meeting with investors that the company remains comfortable with the full-year sales and earnings guidance previously provided for 2007.

This includes an increase in same-store sales, or sales at stores open at least a year, of 2% to 3.5%, total sales of $27.1 billion to $27.6 billion and earnings of $2.45 to $2.60 a share, excluding any May Company merger integration costs. Federated, the parent company of Macy's, acquired May Company in 2005. Shares were off 33 cents to $44.54.