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Stock Analyst Notes (Department Stores )



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Date	Analyst Note	Full Analyst Report
05-22-13	Myer's Sales Momentum Weakens in the Third Quarter	Myer Holdings Limited
05-22-13	Saks Potentially Exploring Strategic Alternatives; Real Estate Transaction More Likely than LBO	Saks Incorporated
05-21-13	Saks First Quarter Positive for Sales and Margins; Shares Still Rich With Little Change in FVE	Saks Incorporated
05-17-13	J.C. Penney's 1Q Encourages, Cash as Expected, Merchandise Aligned With Pricing Strategy by Fall	J.C. Penney Co Inc
05-17-13	Nordstrom Sales Slow, but Attention to Capital Allocation Matters; Shares Trade Near Fair Value	Nordstrom, Inc.
05-16-13	Wal-Mart Reports Weak 1Q Comp, but Solid Small-Store Performance Suggests Capital Allocation Sound	Wal-Mart Stores Inc
05-16-13	Third-Quarter Sales in Line, Valuation Revised but Stock Looks Pricey	Warehouse Group Limited (The)
05-15-13	Macy's Operating Strategies Produce Another Solid Quarter; Cash Returned to Shareholders Increasing	Macy's Inc
05-08-13	J.C. Penney's Preliminary First-Quarter Results Confirm Balance-Sheet Headroom Despite Sales Drop	J.C. Penney Co Inc
05-03-13	Sears' Annual Meeting Highlights Technology Investments; Talk of Retail Turnaround Absent	Sears Holdings Corporation
04-30-13	Moving J.C. Penney�s Uncertainty Rating to Very High from Extreme Following Debt Raise	J.C. Penney Co Inc

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