Look Past the Retail Doom and Gloom. There Are Still Some Winners.
Many retail stocks have been ravaged amid a tempestuous earnings season.
Read articleMany retail stocks have been ravaged amid a tempestuous earnings season.
Read articleHome Depot customers are still shopping — they’re just shifting their priorities on improvement projects. “Our customers and our contractors tell us that there is some stance of deferral when it comes to large projects. Customers are opting for smaller versus larger,” Home Depot CFO Richard McPhail said during Tuesday’s earnings call. “We are also…
Read articleLululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday as wealthy Americans snap up its pricey activewear even though inflation hounds wider retail spending, sending the company’s shares up 13% after hours. A strong rebound in China, easing air freight costs and tighter inventory control also helped first-quarter results surpass estimates…
Read articleHome Depot’s downbeat forecast sent a chill through the home-improvement sector and the wider market last week. That pushed down Lowe’s stock, albeit temporarily, and led to lower expectations for the rival retailer’s coming results, slated for early Tuesday. Analysts had already been lowering their earnings and revenue estimates for Lowe’s (ticker: LOW), which stood…
Read articleBest Buy Co Inc (BBY.N) on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economic outlook tempers expectations for a recovery in demand for TVs, laptops and other electronic products. U.S. retailers offered bigger discounts than usual during the holiday season to stoke demand as surging costs of rent…
Read articleMacy’s Inc (M.N) beat estimates for holiday quarter results and forecast annual profit largely above expectations as the department store operator looks to rein in promotions to beef up its margins, sending its shares up 10% on Thursday. Like many retailers, Macy’s offered steep discounts during the holiday season to get rid of excess inventory…
Read articleTarget Corp (TGT.N) on Tuesday forecast muted profit growth in 2023 and warned of the need for more discounts to woo shoppers cutting their discretionary spending due to surging inflation. The retailer’s discounting strategy powered its sales and profit in the holiday quarter to exceed market expectations for the first time in a year, lifting…
Read articleWayfair Inc. (NYSE:W) rose almost 9% amid a research report about improved share trends for the ecommerce company.Wayfair (W) share trends increased for the first time since Q1 2021, driving improved strength in Q4, according to a M Science report from Wednesday. Early Q1 trends are mixed.Wayfair (W) is scheduled to report Q4 results next…
Read articleAbercrombie & Fitch Co (ANF.N) said on Tuesday it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales after resilient demand led to a surprise quarterly profit. The Ohio-based apparel retailer’s shares that have lost nearly half of their value this year were up about 19% after the company…
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