On Tuesday, three retail companies reported earnings and offered guidance.
Home Depot Inc HD reported Q2 results in line with the estimates. However, its revenue forecast for the current year is slightly below the Street consensus thus dragging down the stock.
Dicks Sporting Goods Inc DKS reported better-than-estimated earnings and boosted its forecast. This was enough to send the stock higher. Jeff Macke said, "Partnerships w/ vendors, disappearing distinction bn on and offline. It's useful to have stores for sports."
TJX Companies Inc's TJX tepid forecast dampened investor sentiment and dragged down the stock.
In the meantime, Redbook reported that retail sales in the United States recorded 0.3 percent drop on a month-over-month basis in the first two weeks of August. On a year-over-year basis, it recorded 3.1 percent growth.
Similarly, the retail Economist/Goldman chain store sales witnessed a drop of 1.6 percent in the second full week of August.
At time of writing:
- The SPDR S&P Retail (ETF) XRT shed 0.26 percent to $45.85.
- Home Depot lost 0.44 percent to $136.44.
- Dicks traded up 7.67 percent to $59.10.
- TJX lost 5.20 percent to $78.42.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.