May has not been kind to retailers. Adding to weak earnings results are multiple economic releases.
Same store sales are down 1.3 percent for the mid-may period, according to the ICSC-Goldman Sachs index. Despite stocks trading much higher than they were a year ago, retail sales are up just 2.4 percent. Economists were expecting more than three percent growth for the month, which is still a possible target.
The list below summarizes how companies have reported thus far.
Tuesday:
- Home Depot: 3.03 percent earnings miss, 1.3 percent revenue miss, Strong guidance
- Staples: 14.29 percent earnings miss, 0.53 percent revenue beat, Low guidance
- TJX Companies: 4.48 percent earnings miss, 1.67 percent revenue miss, Low guidance
- Dick’s Sporting Goods: 3.85 percent earnings miss, 1.37 percent revenue miss, Low guidance
Monday:
- Urban Outfitters: 3.7 percent earnings miss, 0.79 percent revenue beat
Last Week:
- Wal-Mart: 5.17 percent earnings miss, 1.1 percent revenue beat, Low guidance
- Macy’s: Inline earnings, 2.94 percent revenue miss
- Nordstrom: 5.88 percent earnings beat, 2.1 percent revenue beat
- JC Penney: 7.2 percent earnings beat, 3.32 percent revenue beat
- Kohl’s: 4.76 percent earnings miss, 3.78 percent revenue miss
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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