Deutsche Bank: Is November Sales False Negative Or Fail Nail?

Deutsche Bank AG (NYSE: DB) noted that its November Broadline Index was up 0.6%, compared to its estimate of 1.7% and consensus estimate of 2.4%. DB’s top picks were Dillard’s Inc. (NYSE: DDS), Nordstrom, Inc. (NYSE: JWN), Saks Incorporated (NYSE: SKS), J.C. Penney Company, Inc. (NYSE: JCP) and Kohl's Corporation (NYSE: KSS).

According to Deutsche Bank, Target Corporation (NYSE: TGT) and Macy's, Inc. (NYSE: M) sales leading up to Thanksgiving were weaker before showing strength over Black Friday weekend. DB noted that Kohl’s (+3.3%) and Nordstrom (+2.2%) were the clear winners coming in ahead of plan and consensus and were the only department stores to post positive comps.