This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Black Friday Couldn't Save These 4 Retailers

Stocks in this article: TGT GPS JCP KSS

NEW YORK ( TheStreet) -- Black Friday provided a much-needed boost to most retailers in November. But for some, the Thanksgiving weekend shopping frenzy wasn't enough to drive momentum.

Out of the 21 retailers tracked by TheStreet, nine beat estimates while seven missed Wall Street's target and two were in-line.

For those who fell short of analysts' expectations, it looks like it will be a long, choppy holiday season.

Here's a look at the retailers that disappointed Wall Street in November.

Gap

Gap (GPS - Get Report) reported its fifth consecutive monthly decline in same-store sales in November.

During the month, the specialty retailer posted a 5% drop, wider than the 4.3% decrease analysts forecast and a reversal from last year's 5% increase during the same month.

This comes even after Gap tried to stay competitive during the Black Friday weekend, keeping many stores open on Thanksgiving Day and offering deep discounts at all three of its chains.

By division, namesake stores fell 2%, Old Navy was down 7% and Banana Republic's comparable sales were flat.

"This is just the start of the holiday selling season and we expect December to remain fiercely competitive and highly promotional," said CEO Glenn Murphy. "Our brands stand ready to compete at every opportunity to win customers over -- in stores and online."

"Aggressive promotions across all divisions likely drove traffic during Black Friday; however, November was the toughest comp for the company as sales were strong last year," Stifel Nicolaus analyst Richard Jaffe wrote in a note. "The highly aggressive promotional activity underscores management's efforts to drive traffic and accelerate sales. During fourth quarter, we anticipate continued aggressive promotions and coupled with increased product costs significant margin pressure. This margin erosion will be offset somewhat by our estimation by the company's effective management of expenses and inventory."

Gap shares rose 9 cents to $18.78 on Thursday.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,263.61 +72.24 0.42%
S&P 500 2,000.70 -1.46 -0.07%
NASDAQ 4,628.4580 -9.5360 -0.21%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs