US wage growth continued to comfortably outpace inflation. Retail sales growth strengthened.
Ross Stores, Inc. (NYSE: ROST) 2Q19 Results: Delivers Respectable Gains and Plans to Open 42 Stores in 3Q
Ross Stores 2Q19 revenues were $3.78 billion, lower than the consensus estimate of $3.96 billion and up 6.5% year over year. The company reported 2Q19 adjusted EPS of $1.14.
Dick’s (NYSE: DKS): 2Q19 Results: Revenues Up, Beats Consensus, Replaced Hunt Category with Localized Content in 135 Stores
Dick’s reported fiscal 2Q19 revenues of $2.26 billion, beating the consensus estimate of $2.21 billion, and up 3.8% year over year.
Gap reported fiscal 2Q19 revenues of $4.0 billion, down 2.0% year over year, slightly missing the consensus estimate. Adjusted earnings per share (EPS) were $0.63, down 17.1% from the year-ago period, but ahead of the consensus estimate of $0.53.
BJ’s Wholesale Club (NYSE: BJ) 2Q19 Results: Comps in Line But Revenues Miss Consensus Estimates; Margins Improve
BJ’s Wholesale Club reported 1Q19 adjusted EPS of $0.39, up 27.1% and beating the consensus estimate $0.37. Revenues were $3.35 billion, up 1.2% but below the $3.39 billion consensus estimate.
Driven by advancements in digital channels, digitally native retailers are adapting to consumer preferences - but are also opening brick-and-mortar stores.
Newbury Street is a popular hub, hosting hundreds of shops, right off of the Boston Public Garden.
Pinduoduo reported revenues of ¥7.3 billion ($1.1 billion) for the second quarter ended June 30, 2019, beating the consensus estimate of $878.8 million and up 169% year over year. Operating expenses decreased and operating margin improved to (20.4)%.
Lowe’s Companies, Inc. (NYSE: LOW) 2Q19 Results: Revenues and Comps Beat Consensus Estimates; Guidance Reaffirmed
Lowe’s reported 2Q19 adjusted EPS of $2.15, up 3.9% and comfortably beating the $2.00 consensus estimate. Revenues were $20.99 billion, up 0.5% and ahead of the $20.93 billion consensus.
HP Inc. (NYSE: HPQ) 3Q19 Results: Results Beat/In Line with Consensus, Growth Driven by Desktops, Raises Annual EPS Forecast, Announces CEO Succession
HP reported fiscal 3Q19 results that were in line/beat consensus estimates. Growth was driven by strength in PC desktops, and the company raised annual EPS guidance. The company named a successor to the CEO, who is leaving due to family health reasons.
Salesforce (NYSE: CRM) 2Q20 Results: Quarter in Line/Beats Consensus, Strength from Marketing and Commerce, Raises Revenue Guidance
Salesforce’s F2Q20 results were in line/beat consensus estimates, driven by strength in the marketing and commerce cloud segment, and the company raised annual revenue guidance.
L Brands (NYSE: LB) 2Q19: Victoria’s Secret Still a Drag on Earnings but Early Read on Swim is Positive
L Brands 2Q19 revenues were $2.90 billion, down 2.8% year over year and lower than the consensus estimate of $2.95 billion. Comparable sales were down 1% compared to a 3% increase last year and below the consensus estimate of a 0.2% rise.
This week’s note “From the Desk of Deborah Weinswig” looks at China’s many shopping holidays – and how Western companies can tap into the opportunity.
Weekly US and UK Store Openings and Closures Tracker 2019, Week 34: Amazon Expands Brick-and-Mortar Model
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
Home Depot reported 2Q19 EPS of $3.17, up 3.7% and beating the consensus estimate of $3.09. Revenues were $30.8 billion, up 1.2% and marginally below the $31.0 billion consensus estimate.