Earnings Expectations for the Week of August 6
Analysts on average expect to see per-share earnings that are less than a year ago when Dish Network (NASDAQ: DISH), MGM Resorts (NYSE: MGM), Molson Coors (NYSE: TAP), News Corp. (NASDAQ: NWSA), Sotheby's (NYSE: BID) and Sirius XM Radio (NASDAQ: SIRI) share their quarterly results this week. Retail earnings will be the focus with second-quarter results due from the following prominent department store operators.
In its Wednesday report, earnings from Cincinnati-based Macy's (NYSE: M) are expected to come to $0.64 per share for the second quarter. That compares to $0.55 a share in the same period of last year. The stock had a consensus EPS estimate of $0.65 a month ago. In the previous quarter, Macy's exceeded consensus estimates by three cents per share, or 7.5 percent year-over-year. Second-quarter revenues are expected to total about $6.1 billion, which would be around 3 percent higher than a year ago. The company just announced better-than-expected same-store sales in July and it is looking to build on four-straight revenue increases.
This department store operator is expected to say Thursday that for its second quarter it had a profit of $0.96 per share. That would be down from the $1.08 per share that Kohl's (NYSE: KSS) reported in the same period a year ago. Its per-share earnings have not fallen short of consensus estimates in the past four quarters -- the earnings beat in the first quarter was by a couple of pennies per share. Analysts on average expect revenues to total $4.2 billion, which is about the same as in the year-ago quarter. Kohl's said last week that its same-store sales rose 1.7 percent in July but were down 2.7 percent for the quarter.
Second-quarter 2012 earnings for Seattle-based upscale retailer Nordstrom (NYSE: JWN) are forecast to come to $0.74 per share while revenues totaled $3.0 billion. In the same quarter of last year, the company beat EPS estimates when it posted $0.80 per share and $2.7 billion in sales. Note that Nordstrom fell short of analysts' estimates in the first quarter, its first miss in seven quarters. But it posted better-than-expected same-store sales for July, boosted by strength from its Nordstrom Rack discount stores. Nordstrom reports second-quarter results Thursday afternoon.
Analysts predict that struggling retailer JCPenney (NYSE: JCP) will say Friday that it saw a net loss of $0.22 per share in the second quarter as it continues to suffer from competition from the likes of Walmart (NYSE: WMT), Target (NYSE: TGT) and Amazon.com (NASDAQ: AMZN). The consensus estimate has dropped in the past 60 days from a loss of $0.13 per share. Revenues for the quarter are forecast to have fallen 17.5 percent from a year ago to $3.2 billion. Fitch downgraded the stock last week citing concerns about revenue heading into the back-to-school and holiday shopping seasons.
And Others Retailers
Among other retailers scheduled to post results this week, analysts are looking for year-over-year earnings and revenue growth from CVS Caremark (NYSE: CVS) and Vitamin Shoppe (NYSE: VSI). But Advance Auto Parts (NYSE: AAP), Pantry (NASDAQ: PTRY) and TravelCenters of America (NYSEAMEX: TA) are expected to report a decline in earnings. A net loss is anticipated from Office Depot (NYSE: ODP).
Walt Disney (NYSE: DIS), Ralph Lauren (NYSE: RL) and Fossil (NYSE: FOSL) all have retail segments. Disney is expected to announce Tuesday after the markets close that overall EPS for the fiscal third quarter rose 16.1 percent from a year ago to $0.93 and revenue was 5.9 percent higher to $11.3 billion. However, Fossil and Ralph Lauren earnings are projected to have declined year-over-year. Priceline.com's (NASDAQ: PCLN) EPS are predicted to be 25.5 percent higher than a year ago.
The largest retailer in the world Walmart is scheduled to share its quarterly results the following week. Also look for reports from retailers Abercrombie & Fitch (NYSE: ANF), Home Depot (NYSE: HD), Sears Holding (NYSE: SHLD) Target and many others that week.
See also: A Look Ahead: Next Week's ETFs to Watch
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Tags: abercrombie & fitch, advance auto parts, Amazon, Amazon.com, and Sirius XM Radio, CVS, cvs caremark, Dish Network, disney, Fossil, home depot, jc penney, jcpenney, kohl's, macy's, mgm resorts, molson coors, News Corp., Nordstrom, Office Depot, Pantry, priceline.com, Ralph Lauren, sears, Sotheby's, Target, TravelCenters of America, vitamin shoppe, Wal-Mart, Walmart, walt disney