Just a couple of weeks ahead of Christmas, traffic at softlines retailers was quite soft – no pun intended, MKM analyst Roxanne Meyer assured. There were, nonetheless, a couple of notable exceptions where traffic was robust: L Brands Inc LB’s Victoria’s Secret and Bath & Body Works.
Outside malls, the analysts believe off-prices’ shares continue to surge this holiday season, and noted TJX Companies Inc TJX’s “strong presentation of gift-giving and assortment of global brands including a healthy assortment of luxury items.”
The firm continues to view TJX, L Brands, Express, Inc. EXPR and Ross Stores, Inc. ROST as “market share winners for holiday.”
Holiday Promotions
The report then went on to look at promotions.
These bands saw an uptick in promotions this week when compared to last year:
- Urban Outfitters, Inc. URBN’s Anthropologie
- Banana Republic
- Chico's FAS, Inc. CHS
- Gap Inc GPS
- Gap’s Old Navy
- Victoria’s Secret
On the other hand, the following brands witnessed a downtick in promotions this week versus last year:
- Express
- White House Black Market
And, with flattish promotional activity:
- Bath & Body Works
- Urban Outfitters
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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