Hibbett Sports posted first quarter earnings that fell short of Zacks Consensus expectations. Revenue, however, topped estimates despite a year-over-year decline. The sports apparel company’s adjusted earnings came in at $2.89 per share for the quarter, below Zacks Consensus Estimate of $3.29. The EPS is -42% lower than the year-ago quarter’s $5.00. Net sales plunged -16.3% year over year to...
Burlington Stores reported its fiscal first quarter earnings that fell short of the Zacks Consensus Estimate. The apparel products retailer’s quarterly adjusted earnings came in at $0.54 per share for the quarter ended April 2022, below the Zacks Consensus Estimate of $0.64 per share. Earnings were $2.59 per share a year ago. Revenues of $1.93 billion missed the Zacks Consensus Estimate by...
Buckle reported its fourth quarter earnings that surpassed analysts’ expectations. The retail company’s adjusted earnings for the quarter ended January 2022 came in at $1.69 per share, well above the Zacks Consensus Estimate of $1.48 per share. Earnings were $1.33 per share a year ago. Buckle has surpassed consensus EPS estimates four times, over the last four quarters. Revenues of $380.93...
Gap posted third quarter earnings that missed analysts’ expectations. The clothing retail company’s earnings came in at 27 cents compared to 50 cents expected by analysts polled by Refinitiv. Revenue of $3.94 billion also fell short of $4.44 billion expected. Gap’s inventories were down -1% at the end of the third quarter from a year ago. They were flat versus 2019. The company expects...
Urban Outfitters reported second quarter results that exceeded analysts’ expectations.
The retail company’s second-quarter earnings came in at $1.28 per share, compared to analysts’ estimate of 78 cents per share.
Revenue of $1.16 billion also surpassed analysts’ expectation of $1.09 billion.
Net sales rose +20.3% compared to 2019 levels. The company’s comparable retail segment increased +22%, on the back of double-digit growth in digital channel sales that offset low-single digit decreases in retail sales.
Victoria’s Secret reported fiscal-second-quarter earnings that surpassed analysts’ expectations. They also marked a turnaround from the year-ago quarter’s loss. Revenue, however, misses analysts' forecasts. For the quarter ended July 31, the lingerie retailer company’s earnings came in at $1.71 a share compared with a loss of -$2.26 a share in the year-ago quarter. Analysts polled by FactSet...
The company also surpassed revenue estimates.
Express quarterly net loss came in at -55 cents per share, vs. loss of -58 cents expected by analysts.Express is expecting same-store sales to rise sequentially throughout the year.
Gross margin rose to 22.8% of net sales, vs. - 22.0% a year ago.
Express stock has surged 615.4% year to date through Wednesday, amid the frenzy surrounding meme stocks.
The clothing company also raised its full-year guidance.
For the quarter ended May 1, Gap’s adjusted earnings came in at 48 cents a share, while analysts polled by FactSet expected adjusted loss of -5 cents a share.
Revenue rose to $3.99 billion, from $2.1 billion a year ago.Analysts polled by FactSet were expecting $1.43 a share.
The company projects net sales growth between the low to mid 20% range for fiscal 2022, compared with its earlier guidance of mid-to-high teens percent.
Athleisure apparel company Lululemon posted fourth quarter earnings that beat analysts’ expectations. However, the company provided a mixed 2021 guidance. Lululemon’s earnings for the quarter came in at $2.58 per share, surpassing the $2.49 per share expected by analysts. Revenue climbed +24% from the year-ago quarter to $1.7 billion, compared to analysts’ expectations of $1.66 billion. For...
Stitch Fix posted a loss for its second quarter. The online styling company also lowered its full-year sales forecast . The company’s loss for the three months ending in January was -20 cents per share, down from a profit of 11 cents over the same period. Analysts expected loss of -22 cents. Revenues rose +11.6% year-over-year to $504.1 million. Stitch Fix active clients rose +12%...
Gap Inc. reported lower-than-expected revenue for the fourth quarter, as same-store sales plunged at its Gap and Banana Republic stores. However, the retail company beat earnings expectations. Gap’s diluted earnings came in at 61 cents a share with revenue of $4.4 billion for the quarter. That includes 45 cents a share for non-recurring tax benefits and 12 cents a share in impairment charges...
Traditional shopping malls and the retailers that operate in them have been struggling for a number of years as consumers have shifted their shopping preferences. This shift was going on well before the pandemic hit and now it appears the health crisis has only made things worse. Among the companies that are struggling are two apparel retailers that caught my eye because they are overbought...
The company expects revenue growth at the high end of its mid-to-high teens expectation.
Ahead of the group's presentation to the ICR investor conference, CEO Calvin McDonald cited the momentum over the holiday period, and said that the investments in lululemon and MIRROR helped connect with guests both physically and digitally."We remain confident about our opportunities in 2021 and committed to our Power of Three growth plan.” , added McDonald.
What’s more, Lululemon’s online sales surged by an annual rate of +93% last quarter, and are expected to offset any declines in physical sales volumes over the fourth quarter.
Express reportedly hired services of investment bank Lazard Frères for raising financing to get through the coronavirus pandemic.
According to Chief Executive Timothy Baxter’s comments to the Wall Street Journal , Express is not considering a bankruptcy filing; Baxter said the retailer continues to take “decisive and appropriate action” for liquidity management throughout the pandemic."
Citing people familiar with the matter, the Journal indicated that Express is looking to boost its cash reserves until enough of the U.S. population is vaccinated against COVID-19 so as to allow more shopping at physical stores and to resume office work.
The pandemic has accelerated many consumer spending trends, and most of them involve ditching brick and mortar stores for online/e-commerce platforms.It's a highly personalized shopping service, all conducted at home and online -- ideal for a pandemic.
Stitch Fix recently reported earnings, showing double-digit year over year revenue growth and its highest net additions of new clients in the company's history.
Morgan analyst Matthew Boss said, "Looking forward, we see an embedded call option on Gap/Banana Republic with zero value attributed to the two brands today," adding, "despite a potential near-term catalyst path with the Kanye West 'YZY Gap' launch in fiscal 2021 as a brand accelerator for Gap and a rotation back to workwear in light of vaccine news, a catalyst at Banana Republic, consistent with our 3-wave retail 'recovery.'"
According to Boss, Gap has underperformed the S&P 500 by 50% over the past three years, thereby supporting its upside potential.
J.P.
With malls closed or operating with limited hours, many of the apparel retailers were hit particularly hard.
Over the last four months the stocks of these companies have pretty strong bounces as investors believed the selling was overdone.Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), and Gap (GPS) are all set to report earnings on November 24.
If we look at the stocks of these companies over the last four months, we see some incredible gains.
On Thursday, retail company Gap announced plans to hire more than 10,000 new workers to help support its customer service for the holiday season.
“We know the holiday season will be different this year and are committed to helping our teams provide a safe and seamless shopping experience,” said Sheila Peters, head of People and Culture at Gap Inc.
The positions include packing, assembling, preparing orders for shipment, and working at customer contact centers.Customer contact workers can choose to work remotely, and fulfillment-center workers can select their working hours during the weekends, days, and nights.
For the three months ended Aug. 1, the off-price department company’s loss came in at -18 cents a share, compared to loss of -10 cents that Factset analysts had expected.In the year-ago period, it raked in profit of 62 cents.
The company’s revenue fell -32% year-over-year to $6.67 billion, compared to the FactSet analyst forecast of $6.55 billion.
TJX had cash of $6.6 billion as of the end of the quarter.
During the second quarter, TJX paid off the $1 billion it drew from its revolving-credit facilities in March 2020.
According to Tickeron, TJX's 10-day Moving Average broke above its 50-day Moving Average on August 10, 2020
This price move may be construed as a buy signal, indicating that the trend is shifting higher.
Since the COVID-19 pandemic started we have seen some stores do well and others have floundered.
One item that has been a major factor seems to be whether the company has a strong online presence or not.But I found a direct link between the gains in the stocks and what type of stores the company operates.
Looking at the Tickeron Screener and the scorecard for nine different retailers, we see the one-year returns for the stocks have varied greatly.