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) 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV