date:May 27, 2014
ave been significantly lowered. While analysts now project retailers earnings fell an average of 4.1%, back in January they had estimated a 13% gain.
Most retail segments are showing profit declines, with department stores, teen-apparel chains and home-furnishing stores faring the worst, Retail Metrics said. About 41% of retailers have missed estimates, while 45% have beat.
Improved weather, pent-up demand and better employment trends may help the industry in the second quarter, Perkins said.