THE UPS AND DOWNS OF THE RETAIL TRADE

With the economy going up and down like a drunken sailor, it’s good to keep tabs on what’s happening at retail. So in the name of keeping score, let’s take a look at the balance sheets of today’s popular retail chains.

The Gap had higher earnings for the first quarter. The San Francisco-based chain, that includes Gap, Old Navy and Banana Republic said earnings increased 40 percent to $249 million, compared with $178 million for the first quarter last year.

The Gap must have hired some new merchandisers because the stores are coming back to life. I think their stock will go up in the next few months provided that gasoline doesn’t eat up everyone’s clothing budget.

Saks reported first-quarter earnings rose 65.6 percent to $18.3 million, but Target saw profits drop 7.5 percent to $602 million.

It’s bad news for Talbots, their net profits fell 69 Percent in first-quarter, hurt by its kids', men’s and U.K. businesses.

And Macy's reported a Loss of $59 Million for the quarter (is anyone surprised). Hello, they took the names and personalities of major retail chains that defined our lives. They flattened out the persona of difference with indifference. So now what happens? They use celebrities to hawk their wares on TV (nice commericals), but my guess is they are doomed.

According to the CEO Terry Lundgren, “As we begin implementation of new My Macy's localization initiatives across the country, we are optimistic that our plans for tailored assortments and an improved shopping experience in every location will further enhance our store-level execution."