Yesterday, 10:31 AM
- Department stores stocks are down across the board after reports of weak Black Friday traffic and pricing work turn sentiment sour.
- Sears Canada (SRSC -1.5%), Sears Holdings (SHLD -3.3%), Dillard's (DDS -3.2%), J.C. Penney (JCP -2.4%), Macy's (M -1.2%), Nordstrom (JWN -1.2%), and Kohl's (KSS -0.9%) are all lower.
- The SPDR S&P Retail ETF (NYSEARCA:XRT) is down 1.27%, although the damage could be worse if the underlying index didn't hold four internet retailers (Netflix, Amazon, Shutterfly, TripAdvisor) as top ten positions.
Wed, Nov. 18, 4:41 PM
Fri, Nov. 13, 9:14 AM
Fri, Nov. 13, 8:31 AM
- J.C. Penney (NYSE:JCP) reported a lighter than expected Q3 loss, better than expected sales growth and raised profit estimates for the year, but shares nevertheless are -3.3% premarket as other mall-based retailers have warned about weak consumer spending.
- JCP says its Q3 comparable sales at locations open for at least a year rose 6.4% Y/Y, beating expectations, but does not raise its forecast for full-year sales, reaffirming 2015 guidance for comp store sales to increase 4%-5%.
- JCP says all merchandise divisions had positive comp sales gains over last year, with men's, home, footwear, handbags and Sephora among the top performing divisions.
- Q3 gross margin rose to 37.3% from 36.6% a year earlier, helped by improvements in clearance and promotions.
- JCP says it now expects adjusted EBITDA of $645M, up from its August estimate of $620M.
- In premarket trading among peers, JWN -20.2%, TJX -4%, M -1.3%, TGT -1.5%, KSS -2%.
Thu, Nov. 12, 5:44 PM
Thu, Nov. 12, 5:17 PM
- Nordstrom (NYSE:JWN) -19.8% AH after missing Q3 earnings estimates by a wide margin and cutting its annual forecast.
- JWN says Q3 results were below its expectations, reflecting softer sales trends that generally were consistent across channels and merchandise categories.
- JWN lowers its guidance for FY 2016 EPS to $3.40-$3.50 from its prior outlook for $3.70-$3.80 and below the $3.77 analyst consensus estimate, and lowers its revenue view to a 7.5%-8% gain and $14.1B-$14.16B vs. $14.34B consensus.
- For Q4, JWN sees EPS of $3.30-$3.40 with sales rising 7.5%-8%, down from its previous guidance for EPS of $3.85-$3.95 on a 8.5%-9.5% sales increase.
- Q3 revenue, which includes revenue from its credit cards, gained 6% Y/Y to $3.33B, while sales at established stores rose 0.9%; inventory rose 8% Y/Y.
- JWN follows Macy’s in reporting disappointing results, underscoring a broader slowdown for department stores as consumers spend less of their money on apparel and accessories; after hours, M -1.6%, TGT -1.9%, JCP -1.4%, TJX -4%, BURL -5.3%, KSS -1.3%.
Thu, Nov. 12, 4:12 PM
Thu, Nov. 12, 11:31 AM
- Kohl's (NYSE:KSS) is up 6.5% after reporting some success with strategic initiatives.
- Despite a year-over-year drop in Q3 profit, on a sequential basis the recent results looked stronger.
- J.C. Penney (JCP +3.4%), Nordstrom (JWN +2.3%), and Dillard's (DDS +3.5%) are all solidly higher after selling off earlier in the week. The trio have a higher U.S. concentration than Macy's.
- Previously: Kohl's breaks out after earnings beat (Nov. 12 2015)
Wed, Nov. 11, 5:35 PM
Wed, Nov. 11, 8:28 AM
- The department store sector could see an impact after Macy's drops guidance sharply.
- CEO Terry Lundgren sent a shiver across the industry by saying Macy's will take markdowns to clear inventory ahead of the crucial holiday season. Macy's reported soft U.S. traffic and sales in Q3.
- Kohl's (NYSE:KSS), Dillard's (NYSE:DDS), and Nordstrom (NYSE:JWN) are on watch. Perhaps an outlier, J.C. Penney is higher in early action after tipping a strong 6% comp in Q3.
- Previously: Macy's lower after U.S. sales slump and nixing REIT (Nov. 11 2015)
- Previously: Retailers eye inventory levels with Black Friday 17 days away (Nov. 10 2015)
Tue, Nov. 10, 8:31 PM
- The headaches continue for a large part of the retail sector impacted by a slower pace of sales than anticipated this fall.
- Warmer weather than normal have held back outerwear and winter clothing demand, while mall traffic continues to be underwhelming.
- The high level of unsold inventory on shelves at retail chains is likely to lead to more promotions and discounts heading into the crucial Black Friday period, observes the WSJ. That trend could hurt manufacturers and sellers alike.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, PEJ, FDIS, RCD, PMR, UGE, SZK.
- Related stocks: FL, FINL, KORS, COH, DSW, DKS, SKX, JCP, M, SHLD, KSS, JWN, TJX, ROST, BONT, AEO, ANF, ARO, CAL, CROX, SMRT, BKE, CTRN, GPS, LB, RL, PVH.
Mon, Nov. 9, 10:15 AM
- Department store stocks are off to a rough start with earnings coming into focus this week. Macy's (M -5.5%), J.C. Penney (JCP -4.2%), Kohl's (KSS -4.9%), Dillard's (DDS -3.3%), and Nordstrom (JWN -3.9%) are all sharply lower.
- Retailers Target (TGT -2.7%), Costco (COST -1.5%), TJX Companies (TJX -2.9%), The Children's Place (PLCE -4.8%), L Brands (LB -4.4%), and Wal-Mart (WMT -0.9%) are also below broad market averages with earnings reports due to roll in this week and next.
- The S&P Retail ETF (NYSEARCA:XRT) is down a crisp 2.0%.
Mon, Nov. 2, 5:33 PM
Wed, Oct. 14, 10:34 AM
Wed, Oct. 7, 9:14 AM
Fri, Oct. 2, 8:09 AM
- Cowen backs its Outperform rating on Nordstrom (NYSE:JWN) after digesting the company's completion of its credit card sale and unveiling of a $4.85/share special dividend.
- The investment firm thinks Nordstrom's shareholder-friendly approach will attract more buyers.
- Previously: Nordstrom sells credit card porfolio for $2.2B; sets buyback, dividend (Oct. 01 2015)
- JWN +3.64% premarket to $74.00.
Nordstrom Inc operates as a fashion specialty retailer, with 290 U.S. stores located in 38 states as well as a robust e-commerce business through Nordstrom.com and HauteLook. It has two reportable segments: Retail and Credit.
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