Retail execs head down to Florida next week for the closely-watched ICR Conference.
The confab this year arrives at a tumultous time for the sector. A wave of soft holiday period sales reports have set a negative tone amid increasing worries over Trump administration trades policies and border adjustment taxes.
Bloomberg Intelligence analyst Chen Grazutis wants to hear what apparel retailers say about the impact of moving sourcing back to the U.S. On the positive side, some labor wage fear have subsided and inventory levels are better than they were a year ago.
It's unlikely that Q&A at ICR won't delve into Amazon (NASDAQ:AMZN) and the ongoing impact of e-commerce on volume and margins.
Chipotle's (NYSE:CMG) presentation will be one of the bigger events in the restaurant sector, although investors might need their hard hats on with guidance updates/warnings expected from many food chains. Also keep an eye on how restaurant management talks about local sourcing and the shift toward eating local, trends which could bode well for Sysco (NYSE:SYY) and US Foods (NYSE:USFD), tips Bloomberg Intelligence.
Shoe Carnival (NASDAQ:SCVL) sets a new share repurchase program of $50M.
The new share repurchase program will replace the existing $50M share repurchase program due to expire at the end of the year. The company says there is currently $10.3M remaining under that repurchase program.
A dismal earnings report from Shoe Carnival (SCVL -11.1%) appears to be impacting sentiment on other shoe sellers. Execs with Shoe Carnival warned late yesterday that they would step up promotions on seasonal items.
Crox (CROX -1.8%), Deckers Outdoor (DECK -1.2%), Wolverine Worldwide (WWW -1.3%) and Skechers (SKX -1.8%) are all lower on the day.
A survey from William Blair indicates that teenagers and young adults have increased their visits to malls this year to reverse a multi-year trend.
In what may come as a surprise, teens ranked malls above movie theaters, restaurants, and sports clubs/extracurriculars as their most popular place to meet.
Despite the depressed levels of overall sales this year for mall retailers, the read on teens could be a possible indicator that the mall model will evolve and survive, instead of disappear.
"While overall mall traffic remains challenging, our survey this year noted a material increase in the number of respondents who indicated they are visiting malls more often than last year, perhaps suggesting that malls’ efforts to increase relevancy (through more experiential brands and the addition of attractive entertainment and dining options) are beginning to bear fruit," says Bernstein analyst Sharon Zackfia.