Hey Friends,
With the majority of retailers reporting their Q3 earnings over the past couple of weeks, I wanted to take the time to summarize the results into a consolidated view
Nordstrom:
· Sales decreased by almost 7% YoY.
· Earnings per share: 25 cents (adjusted) vs. 13 cents expected.
· Revenue: $3.32 billion vs. $3.40 billion expected.
Best Buy:
· Cut full-year sales forecast.
· Beat earnings estimates but fell short of sales expectations.
· Earnings per share: $1.29 (adjusted) vs. $1.18 expected.
· Revenue: $9.76 billion vs. $9.90 billion expected.
Target:
· Beat fiscal third-quarter earnings and revenue expectations.
· Expects weaker discretionary spending.
· Earnings per share: $2.10 vs. $1.48 expected.
· Revenue: $25.4 billion vs. $25.24 billion expected.
Kohl's:
· Missed revenue forecasts with $4.05 billion vs. expected $4.1 billion.
· Expects full-year earnings in the range of $2.30 to $2.70 per share.
Abercrombie:
· Beat expectations with earnings per share of $1.83 vs. $1.18 expected.
· Revenue: $1.06 billion vs. $981 million expected.
Home Depot:
· Beat expectations with earnings per share of $3.81 vs. $3.76 expected.
· Revenue: $37.71 billion vs. $37.6 billion expected.
· Full-year guidance indicates caution.
Lowe's:
· Lowered full-year sales and earnings guidance.
· Missed quarterly sales expectations.
· Revenue: $20.47 billion vs. $20.89 billion expected.
Dick’s Sporting Goods:
· Raised full-year outlook after a previous slash.
· Earnings per share: $2.85 (adjusted) vs. $2.44 expected.
· Revenue: $3.04 billion vs. $2.94 billion expected.
Walmart:
· Beat fiscal third-quarter earnings and revenue estimates.
· Earnings per share: $1.53 (adjusted) vs. $1.52 expected.
· Revenue: $160.80 billion vs. $159.72 billion expected.
Amazon:
· Exceeded analyst expectations for revenue and earnings in Q3.
· Forecasted Q4 sales between $160 billion and $167 billion.
· Earnings per share: 94 cents vs. 58 cents expected.
· Revenue: $143.1 billion vs. $141.4 billion expected.
CVS:
· Beat Wall Street’s expectations for Q3 earnings and revenue.
· Lowered full-year unadjusted earnings forecast.
· Earnings per share: $2.21 (adjusted) vs. $2.13 expected.
· Revenue: $89.76 billion vs. $88.25 billion expected.
Macy’s:
· Fiscal third-quarter profit exceeded expectations.
· Earnings per share: 21 cents (adjusted) vs. 0 cents expected.
· Revenue: $4.86 billion vs. $4.82 billion expected.
· Adjusted full-year guidance with an improved sales range.
Gap:
· Beat estimates due to strong sales at Old Navy.
· Earnings per share: 59 cents (adjusted) vs. 19 cents expected.
· Revenue: $3.77 billion vs. $3.60 billion expected.
· Reported net income: $218 million vs. $282 million YoY.
TJX Companies:
· Raised full-year guidance for the third time this year.
· Beat Wall Street’s estimates.
· Earnings per share: $1.03 vs. 99 cents expected.
· Revenue: $13.27 billion vs. $13.09 billion expected.