S&P Capital IQ Equity Research Publishes 2013 Holiday Retail Outlook

     S&P Capital IQ Equity Research Publishes 2013 Holiday Retail Outlook

Modest retail sales growth projected; AMZN, GME, TJX seen well positioned

PR Newswire

NEW YORK, Nov. 22, 2013

NEW YORK, Nov. 22, 2013 /PRNewswire/ -- S&P Capital IQ Equity Research has
published its 2013 Holiday Retail Outlook, which projects a 2.5% increase in
general merchandise, apparel, furnishings, and other goods sales for the
holiday season, which would be the weakest holiday season since 2008.
Consumer confidence has fallen in recent months, and the equity retail
analysts at S&P Capital IQ see many additional factors that are likely to make
the 2013 holiday season a challenging one for retailers in general.

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Despite the forecast for only modest retail growth, S&P Capital IQ equity
analysts think Amazon.com (AMZN 363 ***), GameStop (GME 52 ****), and TJX
Companies (TJX 63 ****) are well positioned for the holidays. "We think
Amazon's recent rapid expansion of fulfillment centers gives it an edge over
other online retailers when consumers are considering last-minute purchases
since products can be delivered rapidly," said analyst Michael Souers.
"Amazon's low prices, convenience of use, and a favorable returns policy
should make the company a favorite of shoppers all season long. We see Amazon
growing revenues 22% in the November-December time period, well above expected
growth of online and traditional retailers."

GameStop should benefit from the introduction of the PlayStation 4 and Xbox
One video game consoles, according to analyst Ian Gordon. "GameStop's
marketshare in the video game industry has increased substantially over the
last several years as competitors have de-emphasized the category given
softening trends," added Mr. Gordon. "We think GameStop will be able to
retain a significant portion of this share as others return, due to its large
database of loyal customers and its buy-sell-trade ecosystem."

"We see TJX's T.J. Maxx, Marshalls, and HomeGoods brands attracting
cost-conscious and time-strapped holiday shoppers this year with their strong
value proposition and convenient off-mall store locations," said analyst Jason
Asaeda. "We also look for the company, by operating its stores with lean
inventories, to drive margin expansion through faster inventory turns and low
markdowns."

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