Gamestop reported losses for its second fiscal quarter, that were wider than the prior year quarter’s figure. In the three months ended July 30, the gaming retail company incurred losses of -$108.7 million, or -36 cents per share, compared with a loss of -$61.6 million, or -21 cents, a year earlier. Revenue fell to $1.14 billion, from $1.18 billion in the year-ago quarter. Gamestop has been...
Best Buy posted its second quarter earnings that exceeded analysts’ expectations, while reiterating its full-year guidance. Best Buy had cut the sales and profit forecast in late July, saying it expects weaker demand for consumer electronics as people pay more for groceries and gas. The retailer projects same-store sales to drop by about 11% for the 12-month period ending in January. The...
Ulta Beauty posted its adjusted earnings of $5.70 per share for the quarter ended July, which exceeded the Zacks Consensus Estimate of $4.96 per share. Earnings were $4.56 per share a year ago. The beauty/cosmetics company’s revenues grew +16.8% from the year-ago quarter to $2.3 billion, and also topped the Zacks Consensus Estimate by 3.86%. Same-store sales rose +14.4%, well above the 10.5%...
GameStop shares slipped on Friday, after the video game retailer fired its CFO, Michael Recupero, amid reports of wider staffing cuts. This comes less than 24 hours of its announcing a four-for-one stock split. According to a Securities & Exchange Commission filing, GameStop’s chief accounting officer, Diana Saadeh-Jajeh, will replace Recupero. Meanwhile, Axios reported that the company is...
GameStop reported its first quarter earnings that fell short of analysts’ expectations. The gaming company incurred a loss of ($2.08) per share for the quarter, missing the consensus estimate of ($1.45), MarketWatch Earnings reports. In the year-ago quarter, it had a loss of ($0.45) per share. Revenue came in at $1.38 billion for the quarter, compared to the consensus estimate of $1.32...
Ulta Beauty posted its first quarter earnings that surpassed analysts' expectations. Revenue, too, beat expectations. The beauty/cosmetics company’s earnings came in at $6.28 per share, well above the $4.44 expected by analysts polled by Investing.com. Revenue rose +21% from the year-ago quarter to $2.35 billion also exceeding expectations of $2.12 billion. Relaxation of pandemic-driven...
Cazoo Group reported its fourth-quarter FY21 results, that revealed revenue growth of 227% on a year-over-year basis. Revenue came in at £245 million. Retail revenue climbed +128% Y/Y to £157 million. The number of retail vehicles sold by the European online car retailer was up 61.1% year-over-year to 8,714, and wholesale vehicles was up 505.5% year-over-year to 7,611. Cazoo's gross margin...
Five Below posted its 2022 guidance that was below consensus, leading to the its shares tumbling on Wednesday. For the fourth quarter, the discount retail company posted diluted earnings of $2.49 a share, compared to consensus of $2.48 a share. Revenue of $996.3 million was slightly below analysts’ forecasts of $1 billion. The company’s full-year revenue rose +45.2% to $2.85 billion. Earnings...
GameStop shares surged higher in pre-market trading, after it was revealed that an investment group led by chairman Ryan Cohen made a purchase of around 100,000 shares in the video game retailer. A Securities and Exchange Commission filings showed that Cohen's RC Ventures LLC now has ownership of around 9.1 million GameStop shares, which implies a 11.9% stake in the group. GameStop posted a...
GameStop reported fourth quarter revenue that surpassed analysts expectations. However, the video game retail company incurred a surprise loss for the quarter amid decelerating sales of video game console. The company posted an adjusted loss of -$1.86 per share, compared to analysts’ expected earnings of $0.84 per share. Revenue came in at $2.25 billion, beating analyst estimates of $1.95...
Ulta Beauty posted its fiscal fourth-quarter 2021 results, with earnings and revenue both exceeding the Zacks Consensus Estimate. The beauty and cosmetics company’s earnings came in at $5.41 a share, well above the Zacks Consensus Estimate of $4.61. The figure is also substantially higher than the year-ago quarter’s $3.41. Net sales climbed +24.1% from the year-ago quarter to $2,729.4...
Chen boosted his price target to $30 from $28.
The analyst cited “favorable hair and salon trends” and Sally Beauty's “structural modernization efforts” as factors that should eventually lead to improved brand awareness and earnings growth.According to him, tailwinds to the company included COVID-19-driven do-it-yourself at-home trends yielding about 20% color category growth.
Chen indicated that Sally Beauty is emerging from the pandemic as a stronger retailer on the back of its digital offerings, improving store experience on rehabs, and strategic store closures.
Oppenheimer analyst Rupesh Parikh raised rating on Sally Beauty shares to outperform from perform, with a $24 price target.
GrowGeneration Corp. reported first-quarter results that surpassed analysts’ expectations.
The farm supplies company’s first-quarter earnings came in at 10 cents per share, compared to the 8 cents per share expected by analysts polled by FactSet.
Revenue surged +173% year-over-year to $90 million in the quarter, also beating analysts’ estimate of $86.4 million.
Same-store sales grew +51% year-over-year, despite port delays and supply chain challenges (according to the company).
The company boosted its full-year revenue guidance between $450 million and $470 million – compared to its March guidance of between $415 million and $430 million.Analysts are expecting $426 million.
ODP shares climbed on first-quarter earnings beat and plans to spin off its distribution business into a separate publicly traded company.
For the first quarter, adjusted earnings came in at $1.21 a share, exceeding the FactSet consensus estimate of 72 cents a share.
Revenue rose +13% from the year-ago quarter to $2.36 billion, but was below the FactSet estimate of $2.41 billion.
Office Depot owner ODP Corp said it would spin off its distribution platform, which schools and offices use to buy supplies, into a separate company.The separated company would include ODP's business solutions division and Canadian office supplies retailer Grand & Toy.
The new company will also own ODP's regional office supply distribution businesses, it said.
GameStop said Ryan Cohen will be named as chairman of the company's board. Cohen is the manager of activist investor RC Ventures. Cohen, who is the founder of Chewy.com, invested in GameStop last year, and drove the company’s online sales business and shutter unprofitable stores in malls. He will be elected as company chairman and, be 100% compensated in GameStop equity alomg with other board...
RH reported fourth-quarter earnings that surpassed analysts’ expectations. The company also provided first quarter guidance that indicates an expected growth of atleast +50%. Home furnishings retailer’s adjusted diluted net income came in at $5.07 a share, compared to the $4.75 a share expected by analysts polled by FactSet. The earnings are also higher than the year-ago quarter’s $3.72 a...
Retail company Five Below reported fiscal-fourth-quarter net income that came in higher than analysts’ expectations. For the quarter ended Jan. 30, Five Below earned $2.20 a share compared with $1.97 a share in the year-earlier quarter. Analysts surveyed by FactSet had forecasted GAAP earnings of $2.12 a share . Net sales reached $858.5 million from $687.1 million, while analysts’ estimates...
As the market adjusts to our new reality, we discuss whether the changes we’ve seen are a result of an inherent property of the stock market or a wave of unprecedented social media influence. The latest hot stock market news stories have had a polarizing effect on new traders. While the opportunities are attractive, expert traders warn about the increasing volatility spurred by the...
Approximately 175.5 million shares of GameStop traded hands on Monday, the
second highest one-day total ever. You can't make this stuff up.
Entering the year, GameStop was one of the most shorted stocks in the marketplace, which perhaps set it up for even more speculative bets and trading on where shares would go.Small investors, urged along on Reddit and other chat forums, piled into GameStop, sending shares surging well over 100% on Monday morning, before giving it all back and surging higher before close.
GameStop recently named board members and released solid holiday sales figures.
The videogame retail company placed three of activist investor's RC Ventures nominees -- Alan Attal, Ryan Cohen and Jim Grube -- on the board.Comparable-store sales climbed +4.8%.
According to the company’s statement, consumer demand far outpaced supply in the nine-week period with “unprecedented demand” for recently launched gaming consoles.