Three retailers help bring Q2 earnings season to a close this summer, with mixed results across the board. Earnings reports are all we have to go by so far this week, with Existing Homes Sales, Weekly Jobless Claims and a Jackson Hole Symposium on deck through the remainder of the week.
Home Depot’s (HD - Free Report) Q2 results were mixed: $3.17 per share beat the Zacks consensus by 9 cents (and ahead of the $3.05 reported in the year-ago quarter), while quarterly sales of $30.84 billion fell short of the $30.95 billion estimate (though up 1.2% year over year). Lumber prices reportedly decreased comps, and the company warned of consumer weakness should more tariffs be placed on imported goods.
The home improvement giant, with a Zacks Rank of #3 (Hold) ahead of the earnings release, reported a rise in gross profit, it also saw a 20 basis-point drop in gross margins for the quarter. Home Depot also cut its full-year forecast, though shares are up 2.25% in today’s pre-market. For more on HD’s earnings, click here.
Department store chain Kohl’s (KSS - Free Report) also beat on the bottom line while missing by a smidge on the top: $1.55 per share outperformed by 3 cents, while $4.43 billion in sales was short by 0.57%, as well as under the $4.57 billion from the year-ago quarter. Shares have now beaten earnings estimates in 3 of the last 4 quarters, though the stock is still down double-digits year to date. For more on KSS’ earnings, click here.
The TJX Companies (TJX - Free Report) , a national discount retailer, just met earnings expectations of 62 cents per share in its Q2 report, with $9.78 billion in revenues down 1% from the Zacks consensus. This top line figure was, however, notably better than the $9.33 billion in the year-ago quarter. Shares are up 3% in today’s pre-market, and the stock is mostly tracking the S&P 500 year to date. For more on TJX’s earnings, click here.