Fast Retailing, Gap, Nordstrom…fashion stocks in the spotlight

Fast Retailing Co. became

one of the movers in the Tokio stock exchange after it slumped 60 yen to 18,080 yen and J. Front Retailing Co. Ltd slid 1 yen to 397 yen. At that time, the Nikkei index in Tokyo traded lower for the fourth consecutive day.

In US, Nordstrom came up with outstanding comparable store sales for the four-week period ended Aug. 25. Thanks to a especially buoyant Anniversary Sale – its largest sale event of the year, Nordstrom posted a 21% increase in comparable store sales. The event was carried out over eight days in August this year compared to only one day in 2011.

Tuesday brought good news for The TJX Companies Inc. (TJX), which has climbed 8.0% year over year in the four-week period ended August 25, 2012. Total sales climbed 10% for the month, up to 1.9 billion dollars and compared to the 1.7 billion dollars registered a year ago. As reported by the company, sales exceeded management's expectations.

Meanwhile, Gap got the Industry talking after being reportedly taking initial steps to enter India. The plans are in preliminary stages but management is “deliberating” the move, according to an official from the company’s local liaison office, reported the ‘The Wall Street Journal’ on Tuesday.

Finally, the Olympics haven´t been the panacea the retail sector was hoping for. UK retail sales values were down 0.4 percent on a like-for-like basis from August 2011, reports the British Retail Consortium. According to the British institution, fashion sales were down 1.3 percent year-on-year, laden by the weather.