As retailers reported sales results on Thursday, Wal-Mart Stores Inc (WMT) and Costco Wholesale Corp. (COST) were among the few winners, as shoppers stuck to basic goods. Wal-Mart raised its earnings outlook, noting that better inventory control helped to limit markdowns on merchandise. It also said that April sales should top previous expectations. But March proved to be weak for most others, including J.C. Penney Co. (JCP), Gap Inc. (GPS), and Limited Brands Inc. (LTD). All of them reported sharp drops in sales. Record gas prices, rising food costs, a weaker job market, slumping home prices and an early, frigid Easter were cited as the culprits.
Below we list the FusionIQ master technical scores for the aforementioned retailers.
Wal-Mart Stores Inc. (WMT) - FusionIQ Technical Score - 91
Costco Wholesale Corp. (COST) - FusionIQ Technical Score - 86
Gap Stores Inc. (GPS) - FusionIQ Technical Score - 63
Limited Brands Inc. (LTD) - FusionIQ Technical Score - 31
JC Penney Company Inc. (JCP) - FusionIQ Technical Score - 16