Dow inched up all of 4, decliners just ahead of advancers & NAZ lost 14. The MLP index dropped 4+ to the 327s & the REIT index was fractionally higher to the 326s. Junk bond funds were mixed to lower & Treasuries sold off. Oil is back down to the 45s & gold slid lower to just above 1100.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.16784938343860478)
More Americans are ready to open their wallets a little bit wider for the holiday shopping season, a positive sign for retailers as consumer spending comes off a sluggish start to the fall months. A new survey from Accenture shows that 40% of US consumers plan to spend more on holiday gifts this year compared to 2014. A year ago, when holiday retail sales climbed 4%, just 25% expected to increase their holiday budget. Online shopping appears to be the top choice. Accenture said 54% of consumers prefer to use a brick-and-mortar retailer’s website, & 65% will employ “showrooming”— the practice of checking items in stores before purchasing online. However, 69% also plan to go online before making a purchase at the store. The Accenture Holiday Shopping Survey, which used an online poll said half of respondents are likely to get a head start on Black Friday & shop on Thanksgiving Day, while 28% believe the time should be spent with family. Retailers are hoping to see a rosier picture in the final 2 months of the year. The National Retail Federation believes total holiday sales will grow at a smaller clip in Nov-Dec compared to last year. The industry trade group forecasted a 3.7% increase to $630B. According to a NRF survey, average spending per person is still expected to reach $805.65, slightly higher than the 2014 holiday season ($802.45). Holiday shopping is a critical period for retailers, accounting for 19% of annual sales based on the NRF’s estimates.
Whole Foods Market same-store sales contracted in the fiscal Q4, as it grapples with competition among its own stores & from mainstream retailers. The company has become one of the biggest turnaround stories in the US food sector. Same-store sales fell 0.2% for in Q4 & analysts expected a 0.7% gain. In this qtr, same-store sales thru Nov 1 were down 2.1%. Those sales were up 1.3% for Q3, 3.6% in Q2 & 4.5% in Q2. The deceleration has troubled investors. WFM is fighting to keep a grip on the natural & organic grocery category it pioneered & long dominated. EPS fell to 16¢ from 35¢ a year earlier. Results from the latest qtr included a non-cash asset impairment charge of 8¢ per share & a restructuring charge of 6¢. WFM also announced a $1B stock buyback program, dividend increase & capital structure plan. The stock fell 65¢. If you would like to learn more about WFM, click on this link:
club.ino.com/trend/analysis/stock/WFM?a_aid=CD3289&a_bid=6ae5b6f7
Ralph Lauren EPS fell to 1.86 in its fiscal Q2, down from 2.25 in the previous year. Adjusted EPS were 2.13, beating the estimate 1.73. Revenue totaled $1.97B, down from 1.99B in the previous year. The forecast was for 1.95B. The company expects to incur a one-time charge totaling $120-150M, associated with a management reorganization. But it expects to achieve $110M in annual expense savings as a result of the restructuring. The stock jumped up 16.93 (15%). If you would like to learn more about RL, click on this link:
club.ino.com/trend/analysis/stock/RL?a_aid=CD3289&a_bid=6ae5b6f7
Stocks went nowhere ahead of the big jobs report tomorrow. The report should be fairly favorable with expectations of 182K new jobs, good but not great. Dow remains in the black YTD, just barely.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLZ15.NYM | ....Crude Oil Dec 15 | ....45.41 |  ...0.91 | (2.0%) |
More Americans are ready to open their wallets a little bit wider for the holiday shopping season, a positive sign for retailers as consumer spending comes off a sluggish start to the fall months. A new survey from Accenture shows that 40% of US consumers plan to spend more on holiday gifts this year compared to 2014. A year ago, when holiday retail sales climbed 4%, just 25% expected to increase their holiday budget. Online shopping appears to be the top choice. Accenture said 54% of consumers prefer to use a brick-and-mortar retailer’s website, & 65% will employ “showrooming”— the practice of checking items in stores before purchasing online. However, 69% also plan to go online before making a purchase at the store. The Accenture Holiday Shopping Survey, which used an online poll said half of respondents are likely to get a head start on Black Friday & shop on Thanksgiving Day, while 28% believe the time should be spent with family. Retailers are hoping to see a rosier picture in the final 2 months of the year. The National Retail Federation believes total holiday sales will grow at a smaller clip in Nov-Dec compared to last year. The industry trade group forecasted a 3.7% increase to $630B. According to a NRF survey, average spending per person is still expected to reach $805.65, slightly higher than the 2014 holiday season ($802.45). Holiday shopping is a critical period for retailers, accounting for 19% of annual sales based on the NRF’s estimates.
Holiday Shoppers Are Ready to Spend More
Whole Foods Market same-store sales contracted in the fiscal Q4, as it grapples with competition among its own stores & from mainstream retailers. The company has become one of the biggest turnaround stories in the US food sector. Same-store sales fell 0.2% for in Q4 & analysts expected a 0.7% gain. In this qtr, same-store sales thru Nov 1 were down 2.1%. Those sales were up 1.3% for Q3, 3.6% in Q2 & 4.5% in Q2. The deceleration has troubled investors. WFM is fighting to keep a grip on the natural & organic grocery category it pioneered & long dominated. EPS fell to 16¢ from 35¢ a year earlier. Results from the latest qtr included a non-cash asset impairment charge of 8¢ per share & a restructuring charge of 6¢. WFM also announced a $1B stock buyback program, dividend increase & capital structure plan. The stock fell 65¢. If you would like to learn more about WFM, click on this link:
club.ino.com/trend/analysis/stock/WFM?a_aid=CD3289&a_bid=6ae5b6f7
Competition Slams Whole Foods' Sales
Whole Foods (WFM)
Ralph Lauren EPS fell to 1.86 in its fiscal Q2, down from 2.25 in the previous year. Adjusted EPS were 2.13, beating the estimate 1.73. Revenue totaled $1.97B, down from 1.99B in the previous year. The forecast was for 1.95B. The company expects to incur a one-time charge totaling $120-150M, associated with a management reorganization. But it expects to achieve $110M in annual expense savings as a result of the restructuring. The stock jumped up 16.93 (15%). If you would like to learn more about RL, click on this link:
club.ino.com/trend/analysis/stock/RL?a_aid=CD3289&a_bid=6ae5b6f7
Ralph Lauren Results Slip From Last Year, But Beat Estimates
Ralph Lauren (RL)
Stocks went nowhere ahead of the big jobs report tomorrow. The report should be fairly favorable with expectations of 182K new jobs, good but not great. Dow remains in the black YTD, just barely.
Dow Jones Industrials
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