Earnings Previews: Buckle, Dollar Tree, Ross Stores

Retailers The Buckle (NYSE:

), Dollar Tree Stores (NASDAQ:

) and Ross Stores (NASDAQ:

) are scheduled to report their second-quarter 2011 results tomorrow, August 18, before the markets open. Analysts are expecting to see year-over-year growth of both per-share earnings and revenues from each of them. The Buckle is a Kearney, Nebr.-based casual apparel purveyor, and it is expected to post earnings of $0.51 per share, as well as revenues of $209.0 million. That is an increase of $0.44 per share and $188.6 million in the same period of last year. Note that 60 days ago the consensus earnings estimate was $0.49 per share. And The Buckle has topped earnings estimates in six of the past eight quarters; it fell short by two cents per share in the most recent quarter. Dollar Tree's consensus forecast calls for earnings of $0.75 per share, which is up from $0.61 year over year. That estimate is unchanged from 60 days ago. And this discount variety store operator's revenues are predicted to come in at $1.6 billion. That is an increase from $1.4 billion in the same period of last year. Analysts have been underestimating Dollar Tree's quarterly earnings since 2007, however. Pleasanton, Calif.-based discount retailer Ross Stores is expected to report that per-share earnings rose 16.4% from a year ago to $1.28. Note that the consensus earnings estimate was $1.24 per share 60 days ago. Earnings results have been in line with consensus estimates in recent quarters. Revenues are anticipated to have increased 8.6% to total $2.1 billion. The stocks of all three of these retailers have outperformed the broader markets year to date. The share prices of The Buckle and Dollar Tree are more than 60% higher than a year ago, while Ross Stores is trading more than 45% higher year over year. Other retailers scheduled to post quarterly results tomorrow include America's Car-Mart (NASDAQ:

CRMT

), Bon-Ton Stores (NASDAQ:

BONT

), Casual Male (NASDAQ:

CMRG

), Children's Place (NASDAQ:

PLCE

), Foot Locker (NYSE:

), GameStop (NYSE:

GME

), Gap (NYSE:

GPS

), Sears (NASDAQ:

SHLD

), Stage Stores (NYSE:

SSI

) and Stein Mart (NASDAQ:

SMRT

Action Items:Bullish:

Traders interested in exchange traded funds invested in retailers might want to consider the following trades:

SPDR S&P Retail (NYSE: XRT): up more than 27% in the past year
Vanguard Consumer Discretionary ETF (NYSE: VCR): up more than 19% in the past year
Retail HOLDRs (NYSE: RTH): up almost 16% in the past year
iShares Dow Jones U.S. Consumer Goods Fund (NYSE: IYK): up more than 15% in the past year

Bearish:

Traders may want to consider these alternative positions:

Direxion Daily Retail Bear 2X Shares (NYSE: RETS): up more than 11% in the past month
ProShares UltraShort Consumer Goods (NYSE: SZK): up more than 8% in the past month

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BKEBuckle Inc

$57.320.39%

Overview

CRMTAmerica's Car-Mart Inc

IYKiShares U.S. Consumer Staples ETF

$67.58-1.42%

PLCEChildren's Place Inc