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Tuesday's Retail Earnings Roundup: Red Performance Across The Board

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Tuesday's Retail Earnings Roundup: Red Performance Across The Board

Just days before Thanksgiving marking the unofficial start to the holiday buying season, multiple retailers reported Tuesday their third-quarter results. Here is a summary of how the group performed.

Target

  • Target Corporation (NYSE: TGT) earned $1.09 per share in the third quarter on revenue of $17.82 billion; Analysts expected the company to earn $1.12 per share on revenue of $17.81 billion.
  • Comparable sales rose 5.1 percent and comparable traffic grew 5.3 percent; Analysts expected comparable sales to rise 5.21 percent.

Shares of Target were lower by more than 12 percent to $68.42 in pre-market trading.

Kohl's

  • Kohl's Corporation (NYSE: KSS) earned 98 cents per share in the third quarter on revenue of $4.63 billion; Analysts expected 96 cents per share on revenue of $4.36 billion.
  • Comparable sales rose 2.5 percent versus expectations of 1.74 percent.
  • Management revised its full year EPS higher to be in a range of $5.35 to $5.55; Analysts were already modeling an EPS range of $5.12 to $6.00.

Shares of Kohl's were trading lower by more than 11 percent to $62.50.

Best Buy

  • Best Buy Co Inc (NYSE: BBY) earned 93 cents per share in the third quarter on revenue of $9.59 billion; Analysts expected 85 cents per share on revenue of $9.56 billion.
  • Same-store sales rose 4.3 percent versus expectations 3.5 percent.
  • Management guided its fourth quarter EPS to be in a range of $2.48 to $2.58 versus expectations of $2.58 per share.

Shares of Best Buy were trading lower by nearly 3 percent to $60.77.

Lowe's Companies

  • Lowe's Companies, Inc. (NYSE: LOW) earned $1.04 per share in the third quarter on revenue of $17.4 billion; Analysts expected 98 cents per share on revenue of $17.34 billion.
  • Same-store sales rose 1.5 percent, which fell short of expectations of 2.9 percent.
  • Management lowered its full-year sales outlook from around 4.5 percent to around 4 percent.
  • CEO Marvin Ellison said the company experienced "continued challenges" and a "poor reset execution."

Shares of Lowe's were trading lower by 7.5 percent to $84.10.

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Photo credit: Mjs92984, via Wikimedia Commons<

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