- A 3% increase in comparable store sales
- Merchandise gross margin improvement of 70 basis points of sales
- Operating expense leverage of 70 basis points of sales
- Repurchase of $134.6 million (2.1 million shares) of Class A Common Stock
Price action in the retailer is disappointing.
Mall anchors are closing stores on weak foot traffic, as Amazon.com is close to setting another all-time intraday high.
Five names to consider from my 'stocks for the defensive investor' screen. Excluding retail, as the sector has generally produced poor results.