We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
It’s a big morning for fiscal Q3 earnings in the Retail space this morning, ahead of the long-awaited earnings report from NVIDIA (NVDA - Free Report) today after the closing bell. As we are nearly through the entire S&P 500 for another earnings season, we look for today to be largely affected by earnings results, mostly among specialty retailers.
Dick’s Sporting Goods (DKS - Free Report) posted a respectable turnaround from its earnings release a quarter ago, by beating easily on top and bottom lines and tightening guidance for full-year earnings. The company put up $2.85 per share, dispatching the $2.44 in the Zacks consensus and swinging to a positive year over year from earnings of $2.60 per share. Revenues in the quarter came in at $3.04 billion, nicely above the $2.96 billion estimate.
Full-year earnings of between $11.45-12.05 per share in narrower than the company’s previous guide, though the Zacks consensus $11.79 per share remains within it. Shares are up +7% on this earnings release, swinging the stock into positive territory year to date. (It had been wallowing -1%, after the company slashed guidance in August during its previous earnings report.
Abercrombie & Fitch (ANF - Free Report) made easy work of estimates on both top and bottom lines this morning: earnings of $1.83 per share was soundly ahead of the $1.14 consensus, and into another orbit from the +$0.01 reported a year ago. Quarterly sales of $1.06 billion outpaced the $977.52 million analysts were looking for. Full-year revenue estimates were raised, along with projected Operating Margins, but the stock is selling off -5% in today’s pre-market. I suppose this can happen when your stock is +205% year to date.
Best Buy (BBY - Free Report) shares are also -4% in today’s pre-market, even after the company posted a beat on its bottom line in its Q3 report this morning: earnings of $1.29 per share beat the Zacks consensus by a solid dime, However, $9.76 billion in quarterly revenues was below the $9.88 billion anticipated. Further, its full-year revenue guide is down to a range of $43.1-43.7 billion; analysts had been looking for $44.10 billion. Comps guidance is down to a range of -6% to -7.5%; previously, this had been -4.5% to -6%.
Lowe’s (LOW - Free Report) beat on its Q3 bottom line by a penny this morning to $3.06 per share (but off the year-ago’s $3.27 per share), although sales of $20.47 billion in the quarter missed expectations by -2.4%. The company mentioned in its press release that cooling demand in home improvement — especially DIY, where Lowe’s holds a larger share than rival Home Depot (HD - Free Report) — is helping lead to slight downward revisions on full-year guidance for both earnings and sales.
Early traders look to be booking profits so far this morning, after a five-day winning streak for both the Nasdaq and S&P 500. We had started pre-market trading slightly higher, but have since given way: -60 points on the Dow, -12 on the S&P, -70 on the Nasdaq and -12 points on the Russell. Perhaps Existing Home Sales later this morning or the minutes from the most recent Fed meeting at 2pm ET this afternoon will bring a more positive trading environment.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Big Retail Earnings Precede Opening Bell
It’s a big morning for fiscal Q3 earnings in the Retail space this morning, ahead of the long-awaited earnings report from NVIDIA (NVDA - Free Report) today after the closing bell. As we are nearly through the entire S&P 500 for another earnings season, we look for today to be largely affected by earnings results, mostly among specialty retailers.
Dick’s Sporting Goods (DKS - Free Report) posted a respectable turnaround from its earnings release a quarter ago, by beating easily on top and bottom lines and tightening guidance for full-year earnings. The company put up $2.85 per share, dispatching the $2.44 in the Zacks consensus and swinging to a positive year over year from earnings of $2.60 per share. Revenues in the quarter came in at $3.04 billion, nicely above the $2.96 billion estimate.
Full-year earnings of between $11.45-12.05 per share in narrower than the company’s previous guide, though the Zacks consensus $11.79 per share remains within it. Shares are up +7% on this earnings release, swinging the stock into positive territory year to date. (It had been wallowing -1%, after the company slashed guidance in August during its previous earnings report.
Abercrombie & Fitch (ANF - Free Report) made easy work of estimates on both top and bottom lines this morning: earnings of $1.83 per share was soundly ahead of the $1.14 consensus, and into another orbit from the +$0.01 reported a year ago. Quarterly sales of $1.06 billion outpaced the $977.52 million analysts were looking for. Full-year revenue estimates were raised, along with projected Operating Margins, but the stock is selling off -5% in today’s pre-market. I suppose this can happen when your stock is +205% year to date.
Best Buy (BBY - Free Report) shares are also -4% in today’s pre-market, even after the company posted a beat on its bottom line in its Q3 report this morning: earnings of $1.29 per share beat the Zacks consensus by a solid dime, However, $9.76 billion in quarterly revenues was below the $9.88 billion anticipated. Further, its full-year revenue guide is down to a range of $43.1-43.7 billion; analysts had been looking for $44.10 billion. Comps guidance is down to a range of -6% to -7.5%; previously, this had been -4.5% to -6%.
Lowe’s (LOW - Free Report) beat on its Q3 bottom line by a penny this morning to $3.06 per share (but off the year-ago’s $3.27 per share), although sales of $20.47 billion in the quarter missed expectations by -2.4%. The company mentioned in its press release that cooling demand in home improvement — especially DIY, where Lowe’s holds a larger share than rival Home Depot (HD - Free Report) — is helping lead to slight downward revisions on full-year guidance for both earnings and sales.
Early traders look to be booking profits so far this morning, after a five-day winning streak for both the Nasdaq and S&P 500. We had started pre-market trading slightly higher, but have since given way: -60 points on the Dow, -12 on the S&P, -70 on the Nasdaq and -12 points on the Russell. Perhaps Existing Home Sales later this morning or the minutes from the most recent Fed meeting at 2pm ET this afternoon will bring a more positive trading environment.