Latin America propelled Casino Group’s third-quarter sales, as French same-store sales proved broadly flat.
IBM (NYSE: IBM) 3Q19 Results: Remains on Track to Meet 2019 Guidance with Strength in Cloud, Red Hat and Consulting
IBM reported mixed 3Q19 results, with growth driven by cloud, Red Hat and consulting. The company reiterated its updated 2019 EPS guidance, which had been adjusted for the Red Hat acquisition.
ASOS FY19 profits plummet, management notes it had “underestimated the impacts of large-scale operational change…on two continents simultaneously” and that the company was “not adequately prepared for the additional complexities of planning and trading across our expanded warehouse footprint.”
LVMH reported 3Q19 sales of €13.3 billion, a 17.0% increase on a reported basis, and the Fashion & Leather Goods business grew sales 22.2% compared to the year-ago period. By region, Japan was the best-performing market over the quarter.
Fast Retailing reported FY19 revenues of ¥2.29 trillion ($48.1 billion), up 7.5%, and operating profit of ¥275.0 billion ($2.55 billion), up 9.1% from ¥225 billion ($2.09 billion) in the year-ago period.
Seven & i Holdings (TSE: 3382) 1H20 Results: Operating Income Grows in Both Domestic and Overseas Convenience Stores
Japan-based diversified retail group Seven & i reported net sales down 1.9% year over year to ¥2,656.6 billion in 1H20, ended Aug 31, 2019. Operating income came in at ¥205.1 billion, up 2.8%, primarily driven by strong overseas convenience store operations.
(To be completed by Editor) Costco Wholesale reported 4Q19 revenues of $47.50 billion, up by 7.0% and comfortably above the consensus estimate of $37.33 billion. EPS was $2.47, up 4.9% compared to the year-ago quarter and easily beating the $1.71 consensus estimate.
Ascena (NASDAQ: ASNA) 4Q19 Results: Concentrating on Growing Brands, Ascena Says It Is Not Considering Bankruptcy
Ascena reported 4Q19 revenues of $1.27B above consensus of $1.20B. The company considers options to optimize its balance sheet and said that bankruptcy of Ascena is not an option being evaluated.
H&M confirmed its 3Q19 net sales were up 12.1% year over year and reported EPS of SEK 2.33, ahead of the consensus estimate of SEK 2.28. The company plans to open many stores in 4Q19.
Tesco reported 1H20 results and announced that CEO Dave Lewis will leave the business in summer 2020. He will be succeeded by Ken Murphy, formerly of Walgreens Boots Alliance.
In 2Q20, Sainsbury’s reported a sequential improvement in sales growth. The company sees an opportunity to cut costs by £500 million over five years.
Boohoo Group reported 1H20 total revenues of £564.9 million, up 43% year over year and above the consensus estimate of £553.0 million recorded by StreetAccount.
Nike 1Q20 revenues rose 7.1% to $10.66 billion, driven by growth across all geographies, beating the $10.44 billion consensus estimate.
Next reported 1H20 operating profit of £340.9 million, up 3% year over year and ahead of expectations of £330.9 million, driven by strong performance in its online business.
Adobe (NASDAQ: ADBE) 3Q19 Results: Beats Consensus on EPS with Strong Magento Bookings, But 4Q Guidance Lags Consensus
Adobe’s 3Q19 results beat consensus EPS estimates, reporting 40% growth in Magento bookings. The company’s 4Q revenue and EPS guidance fell below consensus estimates.