RETAILERS FOR THE WEEK AHEAD IN STOCKS

8/24/08 Sunday 7:09 PM CT

By Dave Harris

Last week was some news to the upside. Printer maker Hewlett-Packard (HPQ) reported better than anticipated results with .80 cents per share in the third quarter. The next fiscal quarter guidance of about 1.03 per share was also a nice surprise. And how about The Gap (GPS)? They had a better than expected .32 cents per share in the second quarter. I think we're seeing a good trend for tech and retailers.

This week there's a lot on such stores. Tuesday Chico’s (CHS) and J Crew (JCG) report. Coldwater Creek (CWTR) the casual bohemian store, Jo-Ann Stores (JAS) and suit maker The Men’s Wearhouse (MW) report Wednesday. Thursday Sears Holdings (SHLD), Diamond store Tiffany (TIF), and Williams Sonoma (WSM) open their books. Obviously, these aren’t the big market movers. But I believe it'll reflect the consumer in this tough economic environment. It may also draw some attention away from today's sharp focus on financials.

For economic data, latest data on economic growth will be out from the Commerce Department when the preliminary GDP number comes out Thursday. Friday, personal income and spending data is on tap. 

The market has been a little tough on retailer Target (TGT) in my opinion. Earnings fell 7 and a half percent in the second quarter. Sales however, grew nearly 6 percent. The company is facing a challenging environment. Still, Target plans to open roughly 75 stores next year. The stock has seen some upside at last week’s end, indicating the street has been bargain hunting. I suggest you do the same and pick up some Target stock at this price. It closed Friday up 1.60 at 52.66. I think belongs closer to 60.