Tiffany stock lost nearly -5% in pre-market Friday, after the luxury jewelry company reported tepid holiday sales.
The company’s fiscal fourth-quarter net revenue came in at $1.321 billion, missing analysts’ expectation of $1.332 billion (based on Refinitiv survey).They were down -1% in Asia-Pacific, up +3% in Japan, and declined -3% in Europe.
For fiscal full-year 2019, Tiffany expects its global net sales to increase by a low-single-digit percentage, with lower tourism spending to probably depress net earnings during the first half of the year.
Dick's Sporting Goods (DKS) plunged Tuesday after announcing it will to stop selling firearms at 125 stores and missing same-store sales estimates.The sports equipment retailer also guided low on profit for current fiscal year after Foot Locker (FL) reported a blowout Q4 earlier this month.
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The news sent its shares surging more than +4% in re-market trading Tuesday.
The video game and electronics retailer’s latest share repurchase program would replace the previous program that had $170 million remaining.The company also plans to buy back $350 million debt (due in October).
The company also announced a quarterly cash dividend of 38 cents a share, payable on March 29.
GameStop executive chairman Dan DeMatteo indicated that the company is making continued progress on strategic and financial review.
With Apple seeing sluggish demand for its pricey new iPhones, and with the overall smartphone market in a state of malaise, Best Buy (NYSE:BBY) couldn't rely on mobile devices to drive growth in the fourth quarter of its fiscal 2019.Thankfully for the consumer electronics retailer, other products picked up the slack.
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Office Depot shares climbed +9% Wednesday, after the company reported better-than-expected fourth quarter earnings.
The office supply retailing company reported adjusted earnings of 9 cents a share, exceeding analysts' expectations of 8 cents.
Revenue for the quarter came in at $2.67 billion, higher than $2.58 billion of the year-ago quarter.On the other hand, revenue from the firm’s services business surged +34%, with the growth largely driven by the divisional output of CompuCom (the IT firm that Office Depot acquired in 2017).
For the full-year 2018, Office Depot sales of $11 billion were +8% higher than 2017’s $10.24 billion.
Upscale jewelry retailer Tiffany and Co. (NYSE: TIF) has rallied with the overall market over the last month and that has brought the stock up to a couple of potential resistance points.The trend line is right around the $91 level currently and it looks poised to halt any attempt to breakout above the 50-day.
The daily stochastic readings are hovering near overbought territory currently and that hasn’t been a good sign for the stock over the last six months.
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Shares of the American multinational consumer electronics retailer, Best Buy, dropped more than 5% on Monday after Bank of America Merrill Lynch downgraded the stock’s rating to underperform (equivalent of a sell rating) from neutral – citing slowing industry growth trends and declining sales on key product categories such as TVs, Apple products and gaming.
Further, analysts at Bank of American Merrill Lynch slashed their price target by nearly 30% from $70 to $50 a share, after its gloomy December quarterly outlook missed street estimates.
Best Buy reported better-than-expected third quarter earnings by reporting an EPS of 9 cents and sales of $9.59 billion.But shares fell by 5.8% to $52.16 on Monday, thereby taking its losses for the quarter to more than 33% amid the key holiday shopping season.
Consumer electronics, including iPhones and computers, accounts for more than 50% of Best Buy's US revenues.
Its stock jumped +20% on the news.
On Wednesday, the book store chain said that it has appointed a committee to review acquisition offers, including the one that came from chairman Len Riggio who currently owns 20% of the company’s equity.Also, an investor holding a 7% stake has reportedly expressed his interest in buying the company to Riggio .
Barnes & Noble also suggested that an unidentified shareholder is apparently trying to aggressively increase their stake in the company.
Most of all storage gear is sold exactly by Container Store.
After reporting the record sales in its existing retail stores the stock of Container Store jumped +40% to $9.60.Also, some great cost cutting procedures were installed allowing the company to save capital by using more technology and improving its e-commerce.