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.
Shares of the video game and consumer electronics company, GameStop, got crushed today after the company released sales figures that missed analysts’ expectations.The pandemic was largely seen as a tailwind for the consumer electronics and video gaming industry, as more people stay home and spend more time with TV and videogames.
Perhaps for that reason, analyst expectations for GameStop revenues were too inflated, and the street did not take well to the CEOs comments about the pandemic straining sales.
Tiffany returned to positive earnings in the fiscal second quarter, following its first quarter loss.
The luxury goods company’s earnings came in at $31.9 million, or 26 cents a share, lower than the year-ago period’s $136.3 million, or $1.12.
Second-quarter revenue plunged -29% year-over-year to $747.1 million ; but that’s an improvement from the -45% year-over-year drop in the first quarter ended April 30.
Five Below got share price target hikes from several analysts.
The discount retail company has around 90% of its stores reopened , according to its CEO CEO Joel Anderson.Analyst John Heinbockel mentioned in a report that Five Below should benefit from pent-up demand and from the government’s fiscal stimulus – factors that could lead to modest sales growth in the second half of the year, according to Heinbockel.
RBC Capital Markets analysts raised their share-price target to $115 from $102, and maintained their outperform rating.
Williams-Sonoma got their price target hikes, following higher-than-expected same-store sales growth amid covid-19 crisis.
The retailer of home furnishings and kitchenware reported same-store sales growth of +2.6% in the first quarter, crushing analysts’ anticipation of a - 11.5% decline.
Comparable sales in the e-commerce segment increased +31%.
Wedbush analyst Seth Basham affirmed his outperform rating, and boosted his price target to $90 from $80.He also mentioned that consumers have been shifting their spending online, and also shifting spending to their homes as they reduce travel and entertainment.
RBC Capital analyst Scot Ciccarelli hiked the price target on Williams-Sonoma to $76 from $70, and said that the first-quarter earnings beat was supported by "home-centric purchases," and e-commerce generating an even bigger sales growth than expected.
The retail company, however, suspended its full-year guidance.
The company’s non-GAAP earnings for the three months ending on May 2 came in at 67 cents per share, exceeding the the Street estimate of 43 cents per share .Online sales, surged +155.4% year-over-year, while comparable physical store sales dropped -5.3% amid the COVID-19 pandemic
Best Buy suspended its full-year earnings forecast.
L Brands announced that private-equity firm Sycamore Partners gave legal notice to terminate the agreement to buy the controlling stake of lingerie brand Victoria’s Secret.
Earlier this year, L Brands had said that it would sell a controlling stake in its Victoria’s Secret unit to Sycamore, valuing Secret at $1.1 billion.L Brands wanted to focus on its Bath & Body Works brand.
“Sycamore Partners delivered a notice April 22 purporting to terminate the transaction agreement relating to the sale of a 55% interest in … Victoria’s Secret,” L Brands said in a statement.
But L Brands believes that Sycamore Partners’ purported termination of the transaction agreement is invalid, and it intends to pursue all legal remedies to enforce its contractual rights (as indicated in the company’s statement).