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, 5:17 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, 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)
Thu, Nov. 12, 9:17 AM
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)
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%.
Thu, Aug. 13, 9:19 AM
Tue, Jun. 2, 1:17 PM
- Retail chain stocks are putting in some strong gains despite a soft read earlier in the day from Redbook on sales.
- PVH issued a strong report last night which helped push the sector in the right direction, but there also appears to be some speculative buying on some names in the sector after Macy's was reported to be under pressure to explore REIT options.
- Previously: Macy's hearing from hedge funds on real estate assets
- Gainers: Guess (NYSE:GES) +5.1%, Tilly's (NYSE:TLYS) +4.4%, Abercrombie & Fitch (NYSE:ANF) +5.7%, Kohl's (NYSE:KSS) +1.6%, J.C. Penney (NYSE:JCP) +2.9%, Bon-Ton Stores (NASDAQ:BONT) +4.6%, Stein Mart (NASDAQ:SMRT) +2.7%, Sears Hometown and Outlet Stores (NASDAQ:SHOS) +2.4%, Conn's (NASDAQ:CONN) +5.8%, Best Buy (NYSE:BBY) +1.7%, hhgregg (NYSE:HGG) +2.8%.
Thu, May 14, 9:16 AM
Thu, May 14, 7:28 AM
- Kohl's (NYSE:KSS) trades lower after sales come in lower than expectations.
- Comparable-store sales were up 1.4% during the quarter.
- Gross margin rate +10 bps to 36.9%.
- Operating income rate -10 bps to 6.8%.
- SG&A expense rate flat at 24.6%.
- Inventory +4.6% to $4.165B.
- Store count +4 Y/Y to 1,164.
- Previously: Kohl's beats by $0.08, misses on revenue
- KSS -5.3% premarket.
Tue, Apr. 7, 12:43 PM
- Kohl's (KSS +0.1%) trades higher after channel checks from MKM Partners indicate strong sales trends for Q1.
- The investment firm thinks Kohl's comp sales may top expectations.
- Athleisure and electronics are two categories identified as standing out for the department store chain.
- SA contributor Equity Watch has a deeper dive into Kohl's increased focus into fitness and health products.
Thu, Feb. 26, 8:14 AM
- Kohl's (NYSE:KSS) reports comparable-store sales rose 3.7% in Q4.
- Gross margin rate fell 14 bps to 33.88%.
- Operating income rate -33 bps to 10.32%.
- Merchandise inventory declined 1.55% to $3.814B.
- Store count +4 Y/Y to 1,162.
- FY2015 Guidance: Total sales: +1.8% to +2.8%; Comparable-store sales: +1.5% to +2.5%; Gross margin rate: +0 to +20 bps; SG&A expense: +1.5% to +2.5%; D&A: $940M; Interest expense: $335M; Tax rate: 37%; Diluted EPS: $4.40 to $4.60; Capex: $800M.
- KSS +2.26% premarket.
Wed, Feb. 4, 10:09 AM
Wed, Jan. 7, 9:48 AM
- Department store stocks are getting a good lift from the J.C. Penney holiday sales report.
- Advancers: Macy's (NYSE:M) +2.5%, Nordstrom (NYSE:JWN) +2.5%, Sears Holdings (NASDAQ:SHLD) +2.5%, Kohl's (NYSE:KSS) +3.0%, Dillard's (NYSE:DDS) +2.5%, Bon-Ton Stores (NASDAQ:BONT) +1.6%.
- Previously: Sonic and J.C. Penney add to $2-gas lift in retail theory
Tue, Jan. 6, 8:30 PM
- Shares of J.C. Penney (NYSE:JCP) reached as high as $7.90 in AH trading after the company topped the holiday same-store sales estimates of analysts.
- The stock hasn't traded over $8 since early December as short interest built up ahead of the holiday report.
- Per the norm, bulls and bears are battling it out on JCP. Bulls are lauding management for turning the retailer solidly in the right direction, while bears such as Imperial Capital's Mary Ross Gilbert claim margin-crunching promotions drove the sales gain.
- What to watch: JCP's free cash flow mark at the end of Q4 will be closely-analyzed.
- Sector fallout: Belus Capital's Brian Sozzi thinks the JCP result indicates other department store chains (JWN, KSS, DDS, M) are also poised to best consensus holiday SSS estimates.
- Previous on JCP: Sterne Agee warns, holiday sales report.
Nov. 13, 2014, 7:24 AM
Kohl's Corp operates department stores that sell moderately priced exclusive and national brand apparel, footwear, accessories, beauty and home products. Its website includes merchandise available in stores, and merchandise available only on-line.
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