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Jump Analysis: 
Department Stores Sales Weakness Persists
Author: Mukesh Buch
123jump.com
Last Update: 6:58 PM ET February 05 2009


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Stein Mart, Inc (SMRT) comparable store sales in January declined 16.7%. Total sales fell 17.2% to $67.1 million from $81.0 million in the same month last year.

Sales in 52 weeks period for the year were $1.33 billion compared to $1.46 billion an decrease of 9%. Comparable sales for the year-to-date for 52 weeks fell 10.9%.



Discount Apparel Sales Rise

The TJX Companies, Inc. (TJX) January sales decreased 6% to $1.0 billion from $1.1 billion in the month a year ago.

For the 52 weeks ended January 31, 2009 sales increased to $18.7 billion up 2% from a year ago. Comparable store sales five-week period ended January 31, 2009 fell 4% compared to 1% increase in the same period a year ago on a constant currency basis.

The company expects fourth quarter diluted earnings per share from continuing operations to be in the range of $0.53 to $0.54. For the fiscal 2009 diluted earnings per share from continuing operations to be in the range of $2.02 to $2.03.

Ross Stores, Inc (ROST) January sales increased 4% to $365 million compared to the $350 million a year ago. Same store sales fell 2%.

For the 52 weeks ended January 31, 2009, sales rose 9% to $6.486 billion from $5.975 billion in the prior year period. Comparable store sales increased 2%.

The company forecast earnings per share for the thirteen weeks ending January 31, 2009 in range of $.75 to $.76.

Walgreen Sales Rise

Walgreen Company (WAG) reported January sales increased 5.3% to $5.22 billion from $4.96 billion a year ago period. Comparable same stores rose 0.4% and at front-end of the stores sales declined 0.9%.

Total pharmacy sales increased 5.0% while comparable pharmacy sales increased 1.0%. Comparable pharmacy sales were negatively impacted by 2.2% points due to generic drug introductions in the last 12 months. Total prescriptions filled at comparable stores increased 1.6%.

Walgreens opened 23 stores during January, including four relocations, acquired four stores and closed one.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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