Mayday: Retailers Off To A Struggling Start
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 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.
- Home Depot (NYSE: HD) +1.93%: 3.03 percent earnings miss, 1.3 percent revenue miss, Strong guidance
- Staples (NASDAQ: SPLS) -12.66%: 14.29 percent earnings miss, 0.53 percent revenue beat, Low guidance
- TJX Companies (NYSE: TJX) -7.19%: 4.48 percent earnings miss, 1.67 percent revenue miss, Low guidance
- Dick’s Sporting Goods (NYSE: DKS) -17.48%: 3.85 percent earnings miss, 1.37 percent revenue miss, Low guidance
- Urban Outfitters (NASDAQ: URBN) -8.40%: 3.7 percent earnings miss, 0.79 percent revenue beat
- Wal-Mart (NYSE: WMT) -3.73%: 5.17 percent earnings miss, 1.1 percent revenue beat, Low guidance
- Macy’s (NYSE: M) -2.3%: In-line earnings, 2.94 percent revenue miss
- Nordstrom (NYSE: JWN) +9.02%: 5.88 percent earnings beat, 2.1 percent revenue beat
- J.C. Penney (NYSE: JCP) +3.72%: 7.2 percent earnings beat, 3.32 percent revenue beat
- Kohl’s (NYSE: KSS) -3.11%:4.76 percent earnings miss, 3.78 percent revenue miss
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