Hey Friends,
This is installment 1 of a quarterly series.
With the majority of retailers reporting their Q2 earnings over the past couple of weeks, I wanted to take the time to summarize the results into a consolidated view:
Nordstrom:
Beat earnings expectations: $0.84 per share (expected: $0.44)
Beat revenue expectations: $3.77 billion (expected: $3.65 billion)
Net income rose year-over-year.
Best Buy:
Beat earnings expectations: $1.22 per share adjusted (expected: $1.06)
Beat revenue expectations: $9.58 billion (expected: $9.52 billion)
Net income decreased year-over-year.
Target:
Beat earnings expectations: $1.80 per share (expected: $1.39)
Missed revenue expectations: $24.77 billion (expected: $25.16 billion)
Comparable store sales declined, digital sales dropped significantly.
Kohl's:
Net sales decreased year-over-year.
Net income decreased significantly year-over-year.
Abercrombie:
Beat earnings expectations: $1.10 per share (expected: $0.17)
Beat revenue expectations: $935.3 million (expected: $842.4 million)
Net income turned positive from a loss in the previous year.
Expects higher net sales growth for the fiscal year.
Home Depot:
Beat earnings expectations: $4.65 per share (expected: $4.45)
Beat revenue expectations: $42.92 billion (expected: $42.23 billion)
Net income and revenue decreased year-over-year.
Lowe's:
Beat earnings expectations: $4.56 per share (expected: $4.49)
Missed revenue expectations: $24.96 billion (expected: $24.99 billion)
Net income and earnings per share decreased year-over-year.
DICK’S Sporting Goods:
Missed earnings expectations: $2.82 per share (expected: $3.81)
Missed revenue expectations: $3.22 billion (expected: $3.24 billion)
Net income and earnings per share decreased year-over-year, but sales increased slightly.
Walmart:
Beat earnings expectations: $1.84 adjusted per share (expected: $1.71)
Beat revenue expectations: $161.63 billion (expected: $160.27 billion)
Significant increase in net income and strong same-store sales growth.
Publix:
8.9% YoY Growth
Sales and same-store sales increased year-over-year.
Net earnings surged ($1.1B) compared to the same period last year.
Sprouts Markets:
Net sales increased by 6% to reach $1.7 billion YoY
Comparable store sales grew by 3.2% YoY
Amazon:
Beat earnings expectations: $0.65 per share (expected: $0.35)
Beat revenue expectations: $134.4 billion (expected: $131.5 billion)
Amazon Web Services and Advertising segments performed well.
Positive outlook for the next quarter.
CVS:
Beat earnings expectations: $2.21 adjusted per share (expected: $2.11)
Beat revenue expectations: $88.9 billion (expected: $86.5 billion)
Net income declined year-over-year.
Footlocker:
Met earnings expectations: $0.04 adjusted per share (expected: $0.04)
Missed revenue expectations: $1.86 billion (expected: $1.88 billion)
Reported a loss, compared to a profit the previous year.
Macy's:
Beat earnings expectations: $0.26 adjusted per share (expected: $0.13)
Beat revenue expectations: $5.13 billion (expected: $5.09 billion)
Swung to a net loss, with declining sales in stores and digitally.
Gap:
Beat earnings expectations: $0.34 adjusted per share (expected: $0.09)
Missed revenue expectations: $3.55 billion (expected: $3.57 billion)
Reported positive net income compared to a loss the previous year.
TJX:
Beat earnings expectations: $0.85 per share (expected: $0.77)
Beat revenue expectations: $12.76 billion (expected: $12.45 billion)
Reported higher net income and increased sales year-over-year.