Market Overview

Earnings Expectations for the Week of August 15


Earnings season is not over yet. Among the companies on deck to report quarterly results this coming week are Deere (NYSE: DE), Smucker (NYSE: SJM) and Estee Lauder (NYSE: EL). Analysts expect Deere's per-share earnings to be more than 13% higher than a year ago. Smucker's earnings are forecast to be marginally higher, while those of Estee Lauder are predicted to have slipped about a nickel per share.

But the real focus will be on retail and tech earnings. Walmart (NYSE: WMT), Home Depot (NYSE: HD) and Abercrombie & Fitch (NYSE: ANF) are scheduled to post second-quarter results, and Dell (NASDAQ: DELL) and Hewlett-Packard (NYSE: HPQ) will be stepping into the earnings spotlight as well. Here's a look at what analysts anticipate from these and many others in these sectors this week.

Retail Earnings

Walmart, the largest retailer in the world, is forecast to post second-quarter earnings of $1.08 per share on revenues of $108.3 billion on Tuesday. That is up from $0.97 per share and $103.7 billion in the same period of last year. Analysts are looking for big-box home improvement chain Home Depot to report Tuesday that earnings are up 13.3% from a year ago to $0.83 per share, while revenues come in at $19.9 billion, an increase of just 2.8%. And Wednesday, hip specialty retailer Abercrombie & Fitch is expected to report per-share earnings up a nickel per share to $0.29, but revenue that jumped 18.0% year-over-year to $880.2 million. Note that none of these three retailers have fallen short of consensus earnings estimates in recent quarters.

Here is a look at the consensus earnings forecasts for some of the week's other anticipated double-digit gainers in retail.

  • Ann (NYSE: ANN): EPS up 28.9% to $0.45 (reports Friday)
  • BJ's Wholesale Club (NYSE: BJ): EPS up 13.0% to $0.77 (reports Wednesday)
  • Buckle (NYSE: BKE): EPS up 13.7% to $0.51 (reports Thursday)
  • Chico's FAS (NYSE: CHS): EPS up 29.2% to $0.24 (reports Wednesday)
  • Dick's Sporting Goods (NYSE: DKS): EPS up 13.3% to $0.50 (reports Tuesday)
  • Dollar Tree (NASDAQ: DLTR): EPS up 18.7% to $0.75 (reports Thursday)
  • Foot Locker (NYSE: FL): EPS up 63.6% to $0.11 (reports Thursday)
  • Hibbett Sports (NASDAQ: HIBB): EPS up 26.3% to $0.19 (reports Friday)
  • Limited Brands (NYSE: LTD): EPS up 21.7% to $0.46 (reports Wednesday)
  • Lowe's Companies (NYSE: LOW): EPS up 12.1% to $0.66 (reports Monday)
  • PetSmart (NASDAQ: PETM): EPS up 19.6% to $0.51 (reports Wednesday)
  • Ross Stores (NASDAQ: ROST): EPS up 16.4% to $1.28 (reports Thursday)
  • TJX Companies (NYSE: TJX): EPS up 18.0% to $0.89 (reports Tuesday)

Analysts anticipate modest earnings growth from America's Car-Mart (NASDAQ: CRMT) and Target (NYSE: TGT) as well.

Staples (NASDAQ: SPLS) per-share earnings are expected to be about the same as in the year-ago quarter, while retailers expected to report declining earnings this week include GameStop (NYSE: GME), Gap (NYSE: GPS), Kirklands (NASDAQ: KIRK) and Urban Outfitters (NASDAQ: URBN).

And Bon-Ton Stores (NASDAQ: BONT), Hot Topic (NASDAQ: HOTT), Saks (NYSE: SKS) and Sears (NASDAQ: SHLD) are expected to post net losses for the second quarter.

Tech Earnings

Analysts foresee a report of earnings growth from Dell on Tuesday despite weak growth in PC shipments. The Texas-based computer and smartphone maker is expected to post second-quarter earnings of $0.49 per share on revenues of $15.8 billion. That compares with $0.32 per share and $15.5 billion in the same period a year ago. Things are not as rosy for rival Hewlett-Packard. Its anticipated fiscal third-quarter earnings of $1.09 per share would be about the same as a year ago, while revenues are forecast to be up just 1.5% to $31.2 billion. While analysts underestimated Dell earnings by 25% or more in the past three quarters, HP has only topped consensus estimates by about a nickel or so per share in that time.

By and large, expectations for this week's other tech earnings are positive.

  • Agilent Technologies (NYSE: A): EPS up 26.0% to $0.73 (reports Monday)
  • Analog Devices (NYSE: ADI): EPS up 12.2% to $0.74 (reports Tuesday)
  • Autodesk (NASDAQ: ADSK): EPS up 12.2% to $0.41 (reports Thursday)
  • NetApp (NASDAQ: NTAP): EPS up 10.9% to $0.55 (reports Wednesday)
  • (NASDAQ: NTES): EPS up 29.5% to $0.78 (reports Wednesday)
  • (NYSE: CRM): EPS up 3.3% to $0.30 (reports Thursday)
  • Tech Data (NASDAQ: TECD): EPS up 14.6% to $0.96 (reports Thursday)

Marvell Technology Group's (NASDAQ: MRVL) per-share earnings are predicted to have slipped three cents per share.

Looking Ahead

The following week, Applied Materials (NASDAQ: AMAT), Heinz (NYSE: HNZ), Hormel (NYSE: HRL) and Tiffany (NYSE: TIF) will be reporting their quarterly results.


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