Sep. 27, 2013, 11:06 AM
- Brean Capital initiates Signet Jewelers (SIG +1%) at Buy with a PT of $85.
- Analyst Eric Beder believes Signet is "poised to lever its dominant market positions in the United States and the United Kingdom in order to capture a greater piece of market share."
- The jeweler's bridal business and branded offerings will allow Signet to stand out from the pack of smaller competitors, Beder continues.
- Other jewelers are down on the day: TIF -0.6%, ZLC -1.8%
Sep. 10, 2013, 7:16 AM
Sep. 4, 2013, 1:59 PM
- Shares of Zales (ZLC +4.8%) continue to run after the jeweler's FQ4 beat. The stock is up 49.7% since the company announced results on Aug. 28.
- Diamond jewelers Blue Nile (NILE +3%), Tiffany (TIF +1.9%), and Signet (SIG +0.4%) are up on the day as well and are outperforming the broader S&P retail sector (+0.8%).
Aug. 28, 2013, 10:50 AM
- Retail traffic to U.S. stores has declined in 8 out of the last 10 weeks, according to data compiled from ShopperTrak.
- Though a few on-trend firms such as Michael Kors (KORS +0.1%) and Express (EXPR +8.5%) are still firing on all cylinders, and a heat wave in the Midwest has had an effect, the overall trend for the back-to-school season and holiday season looks weak.
- Analysts also think consumers are likely to pick up their reliance on deals as discretionary spending on housing and automobiles "crowds out" normal outlays.
- Related ETFs: XRT, RTH, PMR, RETL.
- Related stocks: APP, AEO, ANF, AZO, BBBY, BBY, BJ, CHS, COH, COST, DG, FDO, FL, GPS, HD, JCP, JNY, JWN, KSS, LTD, LULU, M, NDN, ODP, ORLY, PIR, RGS, RL, SKS, SPLS, TGT, TIF, TJX, UA, UNFI, URBN, VFC, WMT, WRC, ZLC.
Aug. 28, 2013, 9:43 AM
Aug. 27, 2013, 12:03 PM| 1 Comment
Aug. 27, 2013, 8:11 AM
- Tiffany (TIF) beat estimates in Q2 and raises guidance as the luxury retailer shows broad strength across regions and categories.
- Segment revenue: Americas +2% to $444M; Asia-Pacific +20% to $208M; Europe +11% to $111M.
- The retailer raises its FY13 EPS guidance to $3.50-$3.60, up from a prior range of $3.43-$3.53. (PR)
- TIF +2.3% premarket.
Aug. 27, 2013, 7:03 AM
Aug. 27, 2013, 12:05 AM
Aug. 26, 2013, 5:30 PM
Aug. 26, 2013, 10:46 AM
- A consumer paradigm shift toward "things that last" could disrupt the critical holiday shopping season, according to retail analysts.
- After a Q2 which saw Home Depot (HD), Lowe's (LOW), Best Buy (BBY), hhgregg (HGG), and Conn's (CONN) report solid sales for appliances, a fresh forecast from IBM sees much of the same for H2 with discretionary spending tightening for apparel and incidentals.
- Looking for the trend to end: AEO, ANF, ARO, BBBY, BBY, BJ, CHS, COH, COST, DG, DLTR, GPS, JCP, JWN, KSS, LTD, M, NDN, NKE, PIR, PLCE, RL, RSH, SKS, SPLS, TGT, TIF, TJX, URBN, WMT, WSM, BKE, PSUN, ZUMZ, EXPR
Aug. 21, 2013, 1:40 PM
- Retail is in a state of "bifurcation" as on-trend luxury retailers (KORS, JWN, TIF) and home improvement specialists (HD, LOW) thrive, while heavyweight merchandise retailers (WMT, TGT, COST), mall-based apparel chains (AEO, ARO, LTD), and discounters (DG, DLTR, FDO) disappoint.
- As execs with Target noted during the firm's earnings call this morning, consumers seem more than happy to buy new automobiles and fix up their houses - but have tightened up on toothbrushes, socks, and soap.
- A few companies - through some good luck and solid execution - sit in a consumer demand sweet spot. Ross Stores (RST), TJX Companies (TJX), and Subaru (FUJHY.PK) come to mind.
- Related ETFs: XRT, RTH, PMR, RETL.
Aug. 17, 2013, 9:02 AM
- The market's more richly valued than you think, writes Jack Hough in Barron's, as Q4 S&P 500 (SPY) earnings are expected to rise 10.5% on just a 0.6% increase in revenue. "Where's that margin growth going to come from," asks S&P's Howard Silverblatt. "Most of us aren't exactly napping on the job as it is."
- Avoid sectors particularly prone to estimates cuts like consumer discretionary (XLY) and telecom (IYZ), suggests Hough, but favor safer groups like tech (XLK, though Cisco last week calls "safe" into question) and health care (XLV).
- A stock screen scoring companies by free cash yield as well as ability to still boost margins yields 5 top picks:
- Pfizer (PFE) trades inline with a slow-grower like Merck (MRK) but maybe deserves a multiple closer to a fast-grower like Bristol-Myers Squibb (BMY).
- Danaher (DHR) - it trades at what seems like a pricey 18x earnings, but just 15x projected free cash.
- Lear (LEA) at 10x earnings is growing faster than the auto market as a whole as it picks up market share and electrical content in cars is rising.
- Oracle (ORCL) and Qualcomm (QCOM) have both seen earnings growing faster than their share price of late, leaving them attractively priced.
- The screen also yielded 3 to avoid:
- Tiffany (TIF) at 20x earnings is pricing in faster earnings growth in 2014. Praxair (PX) expectations are for a near-doubling in earnings growth to 13%. Lennar (LEN) with 32% projected earnings growth remains pricey even as the housing recovery appears to be slowing.
Aug. 15, 2013, 9:40 AM
- Third Point (TPRE) files its Q2 13-F.
- Key increases: TIBX +400%. BID +400%. LBTYK +344%. LBTYA +275%. TMO +92%. COG +10%.
- Key reductions: TIF -38%. NWSA -38%. IP -31%. AIG -25%. STZ -25%. APC -20%.
- Key exits: DLPH, AGU, CIM, LPX, NXPI, HES, EQIX, TDG, ST, MUR, LNG, ABBV, VMED, LYB.
- Key initiations: MPC ($89M). WMB ($57M). ELN ($120M). DIS ($114M). CF ($145M). CCE ($35M).
Aug. 15, 2013, 9:25 AM
Aug. 12, 2013, 12:02 PM
- Goldman's Lindsay Drucker Mann resumes TIF, RL at Neutral, PVH at Buy.
- Tiffany & Company (TIF +0.1%) is resumed at Neutral (six-month PT $84) as optimism regarding a "compelling long-term earnings runway ... is tempered by near-term earnings headwinds, including currency and an early-stage US turnaround effort."
- Ralph Lauren (RL -0.8%) is resumed at Neutral (six-month PT $205). The retailer has delivered "consistent top-line and EPS growth" for a decade against a "backdrop ... loaded with fashion and execution risk."
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