Wed, May 18, 10:08 AM
- Retail stocks are lower than broad market averages after Target (TGT -9.3%) sets a gloomy tone on U.S. consumer spending. There was a sense of bewilderment from Target in its release and earnings call commentary over the slowdown in sales post-Easter.
- Wal-Mart is down an even 3% to reach a multi-month low ahead of tomorrow's earnings report.
- Shares of Best Buy (NYSE:BBY) are 3.2% lower after the soft read from Target tilts sentiment. The electronics chain reports earnings on May 24 with analysts expecting revenue of $8.291B and EPS of $0.35 to be disclosed.
- Other chain store stocks reeling after the Target release are Conn's (CONN -0.1%), hhgregg (HGG -2.4%), Sears Holdings (SHLD -3.1%), GameStop (GME -1.6%), Bon-Ton Stores (BONT -2.3%), Dollar Tree (DLTR -2.1%), Big Lots (BIG -2.4%), Dollar General (DG -1.5%), Citi Trends (CTRN -7.4%), and PriceSmart (PSMT -2.9%).
- Previously: Investors edgy over retail stocks after Target disappoints (May 18)
- Previously: Target stung by low traffic trend (May 18)
Fri, Mar. 11, 7:16 AM
Thu, Jan. 7, 10:14 AM
- A large number of retail stocks are defying the global market sell-off to put in strong gains.
- The unexpected strength follows a few store chains reporting solid holiday sales growth, headlined by L Brands with a stellar 8% comp. The underlying story behind the good read may be that $2 gas prices are helping to feed consumer spending at U.S. store chains.
- Gasbuddy.com forecasts gas prices will stay low in the U.S. for all of 2016.
- Notable gainers include Wal-Mart (WMT +2%), Target (TGT +1%), Gap (GPS +2.3%), Fred's (FRED +1.2%), Express (EXPR +1.1%), American Eagle Outfitters (AEO +1.6%), Tilly's (TLYS +2.3%), Urban Outfitters (URBN +4%), TJX Companies (TJX +0.6%), Ross Stores (ROST +1.6%), Kohl's (KSS +2%), Stein Mart (SMRT +4.4%), Citi Trends (CTRN +1.7%), Buckle (BKE +4.8%).
- Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, FXD, FDIS, RHS, FSTA, RCD, PMR, BITE
Nov. 24, 2015, 12:40 PM
Nov. 13, 2015, 1:09 PM
- Retailers are under pressure after the Census Bureau reported October retail sales rose 0.1% M/M, and core retail sales 0.2%. Consensus was respectively 0.3% and 0.4%.
- Also: J.C. Penney is down 13.6% in spite of posting a Q3 beat and reiterating its full-year same-store growth guidance, and Nordstrom is down 15.4% after missing FQ3 estimates and cutting its FY16 guidance.
- In addition to Target, TJX, Macy's, and Kohl's (previously covered), notable decliners include Ross (ROST -5.7%), Skechers (SKX -3.9%), Michael Kors (KORS -4.8%), Deckers (DECK -4.2%), Gap (GPS -4.1%), Ascena Retail (ASNA -4.6%), American Eagle (AEO -4.5%), Urban Outfitters (URBN -4.8%), Stein Mart (SMRT -5.4%), Citi Trends (CTRN -4.4%), Guess (GES -5.9%), Abercrombie & Fitch (ANF -5.7%), Chico's FAS (CHS -4.3%), and New York & Company (NWY -6%).
- Retail stocks were also under pressure on Wednesday after Macy's cut its 2015 guidance.
- ETFs: IYK, PEJ, IYC, SCC, UGE, SZK, XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR
Aug. 19, 2015, 12:45 PM
Aug. 19, 2015, 10:55 AM
- Citi Trends (NASDAQ:CTRN) is up 11% after earnings impress amid a tough day for broad retail (S&P Retail ETF -1.1%).
- Cash flow is now strong enough at the company for it to initiate a cash dividend and launch a buyback plan.
- Earlier this week, TJX Companies reported strong results for Q2.
- Previously: Citi Trends declares $0.06 dividend
- Previously: Citi Trends reports 3.9% comp for Q2
Jun. 4, 2015, 10:26 AM
- A healthy round of reports from retail chains and more firming up of the labor market has the retail sector ahead of market averages
- Outperformers include Buckle (BKE +3.4%), Five Below (FIVE +7.3%), Abercrombie & Fitch (ANF +1.8%), L Brands (LB +1.8%), American Eagle Outfitters (AEO +2.2%), Citi Trends (CTRN +2.1%), Express (EXPR +1.4%), Urban Outfitters (URBN +1.6%), Wayfair (W +1.3%), and TravelCenters of America (TA +0.9%).
- The S&P Retail ETF (NYSEARCA:XRT) is also positive on the day with most broad market averages in the red.
May 19, 2015, 10:03 AM
- Ross Stores (NASDAQ:ROST) is up 1.62% and Gordmans Stores (NASDAQ:GMAN) has added 2.52% as a report from TJX Companies (TJX +3.1%) earlier today shows some strength in the off=price sector.
- Stein Mart (SMRT +0.2%), Citi Trends (CTRN +0.2%), and Burlington Stores (BURL +2.4%) are also out ahead of market averages.
- The S&P Retail ETF (NYSEARCA:XRT) is -0.5% with retail giant Wal-Mart's Q1 report exerting plenty of gravity.
- Previously: TJX Companies outruns retail peers in Q1
- Previously: Bottom line pressured at Wal-Mart in Q1
- Related ETFs: XLY, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, PEZ, PSCD.
Mar. 13, 2015, 12:45 PM
Mar. 13, 2015, 9:24 AM
- Citi Trends (NASDAQ:CTRN) trades lower after reporting earnings and announcing the resignation of CEO Ed Anderson.
- The company has selected Jason Mazzola, currently the CMO, to replace Anderson.
- CFO Bruce Smith has also been given the title of COO.
- Comparable-store sales rose 13.9% for Citi Trends in Q4.
- Previously: Citi Trends beats by $0.06, beats on revenue
- CTRN -7.2% premarket to $24.54.
Jul. 21, 2014, 12:46 PM
Sep. 23, 2011, 2:43 PM
Citi Trends (CTRN +2.6%) trades higher after announcing a number of cost cutting actions. The company plans to eliminate some positions in its corporate offices, distribution centers and store organization, and will pull back on its new store opening plans, only opening stores for which it has already made commitments.| Sep. 23, 2011, 2:43 PM | 1 Comment
Aug. 17, 2011, 12:37 PM
Urban apparel retailer Citi Trends (CTRN -9.3%) trades lower after its Q2 loss widened sharply, hit by slumping sales and heavy markdowns. Same-store sales dropped 12%, deeper than analysts' expectations for 11%. Not surprisingly, the company lowers FY11 guidance and cuts back on new store openings.| Aug. 17, 2011, 12:37 PM
Jul. 20, 2011, 10:32 AM
Urban apparel retailer Citi Trends (CTRN -16%) takes a hit after forecasting a wider-than-expected loss for Q2, and plans fewer store openings this year due to weak sales. The company now expects to post a loss of $0.60 to $0.70 per share, greater than the $0.12 loss estimated by Wall Street.| Jul. 20, 2011, 10:32 AM