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Jun. 30, 2015, 8:08 AM
- The Department of Labor has outlined a new wage proposal that could have broad implications for the retail and restaurant industry.
- The measure increases the threshold of the level where mandatory overtime wages kick in to $970 a week ($50.44K/yr estimated) from $455 a week ($23.66K/yr estimated).
- The change is set to impact overtime pay for 5M U.S. workers.
- Analysts expect the issue to be teed up by both Republicans and Democrats.
- DOE fact sheet (.pdf)
- Restaurant stocks: CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, BDL, NATH, LUB, QSR, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, SHAK, HABT, NDLS, BOJA, PBPB, PLKI, FRSH, RAVE, LOCO, TACO, PZZA, KONA, BGR, BJRI, CHUY, FRS, CBRL, GTIM, TAST, ARKR.
- Retail chain stocks: AEO, ANF, ARO, BBBY, CHS, COST, DG, DLTR, GPS, HD, JCP, JWN, KR, KSS, LOW, LB, ODP, PIR, PLCE, RSH, SPLS, SWY, TGT, TJX, URBN, WMT, RAD, CVS, WBA, M, SMRT, FIVE.
- Previously: Overtime pay rules to be shaken up (June 30)
Jun. 24, 2015, 4:38 PM
- Bed Bath & Beyond (NASDAQ:BBBY) reports comparable-store sales gained 2.2% in FQ1.
- The comp was clipped 30 bps by an unfavorable swing in the Canadian dollar.
- Operating profit fell during the quarter on higher SG&A expenses.
- The company says its modeling for a consistent 2% to 3% rise comparable-store sales for the fiscal year.
- Previously: Bed Bath & Beyond misses by $0.01, revenue in-line
- BBBY -1.05% after hours.
Jun. 24, 2015, 4:16 PM
- Bed Bath & Beyond (NASDAQ:BBBY): FQ1 EPS of $0.93 misses by $0.01.
- Revenue of $2.74B (+3.0% Y/Y) in-line.
Jun. 23, 2015, 5:35 PM
Jun. 1, 2015, 10:58 AM
Apr. 14, 2015, 9:09 AM
- The furniture and home furnishing stores category in the March Retail Sales report outperformed most other businesses.
- Sales rose 1.4% M/M and 3.8% Y/Y during the month.
- The sector was on watch to see if there was any continued spillover impact from the West Coast slowdown.
- Furniture/home furnishing stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET, KIRK, WSM.
- Retail Sales report (.pdf)
Apr. 8, 2015, 5:38 PM
Apr. 8, 2015, 4:27 PM
- Bed Bath & Beyond (NASDAQ:BBBY) reports comparable-store sales grew 3.7% in FQ4 vs. 4.5% forecast by analysts.
- The comp mark was clipped 20 bps by the Canadian foreign exchange rate.
- Operating profit increased 1% Y/Y to $532.17M.
- Previously: Bed Bath & Beyond EPS in-line, misses on revenue
- BBBY -2.9% after hours to $75.46.
Apr. 8, 2015, 4:17 PM
- Bed Bath & Beyond (NASDAQ:BBBY): FQ4 EPS of $1.80 in-line.
- Revenue of $3.34B (+4.4% Y/Y) misses by $30M.
- Shares -3%.
Apr. 7, 2015, 5:35 PM
Mar. 18, 2015, 9:13 AM
- Bed Bath & Beyond (NASDAQ:BBBY) plans to tighten some of its return policies, execs tell Racked.com.
- The retailer was known for having one of the most generous return philosophies in the sector to the delight of customers.
- A new policy will deduct 20% for all returns without a receipt
- It's a tricky road for the company as it balances customer loyalty against loss prevention with an eye on margins.
Feb. 25, 2015, 2:18 PM
Feb. 20, 2015, 9:52 PM
- Some false alarms earlier, but the AP reports (and union spokesmen and the PMA started confirming) that agreement has been reached with West Coast dockworkers.
- The deal would end a nine-month negotiation that has led to significant slowdowns at 29 West Coast U.S. ports. Labor Secretary Thomas Perez urged the PMA and union workers to come to agreement today.
- The contract still needs union ratification.
- Affected furniture stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET.
- Apparel stocks: KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, GIII, SQBG, HBI, VRA, ICON, SHOO, BWS, PERY, DXLG, BONT, GES, URBN, RL,GIL, NKE, OXM, HBI, VNCE, PERY, ICON, FL.
- Previous coverage of the slowdown
Feb. 17, 2015, 12:53 PM
- The furniture market is seeing some disruption as the West Coast port slowdown continues.
- A stalled pace of imports is impacting wholesale pricing for companies relying on suppliers that ship to ports in California, Oregon, and Washington.
- Even companies without a heavy reliance on Asian imports are feeling a supply chain shock.
- Previously: West Coast port slowdown continues (Feb. 16 2015)
- Related stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET.
Jan. 8, 2015, 4:42 PM
- Bed Bath & Beyond's (NASDAQ:BBBY) comparable store sales rose 1.7% Y/Y in FQ3, a slowdown from FQ2's 3.4%.
- The retailer continues to expect FQ4 EPS of $1.78-$1.83, in-line with a $1.80 consensus.
- FQ3 gross margin fell 80 bps Y/Y to 38.4%. SG&A spend rose 4% to $776.3M, slightly outpacing revenue growth of 3%.
- A $1.1B accelerated buyback was finished in December. $200M had been spent via BBBY's $2B buyback program as of Nov. 29.
- FQ3 results, PR
Jan. 8, 2015, 4:18 PM
- Bed Bath & Beyond (NASDAQ:BBBY): FQ3 EPS of $1.19 in-line.
- Revenue of $2.94B (+2.8% Y/Y) misses by $30M.
- Shares -4.67% AH.
Bed Bath & Beyond Inc operates a chain of retail stores. It operates under the names Bed Bath & Beyond, Christmas Tree Shops, Harmon and Harmon Face Values, buybuy BABY & World Market or Cost Plus World Market.
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