Coffee With Greta: More Retail Earnings
DJIA Futures: +139 (+0.4%)
SPX Futures: +18 (+0.5%)
NASDAQ Futures: +45 (+0.4%)
Good morning friends!
Futures are higher as traders digest more Q3 retail earnings in the light holiday week.
Let’s get right to it!
Dollar Tree Slips On Weaker Profit Outlook
Dollar Tree (DLTR) shares are falling 2.1% ahead of the open despite beating Q3 expectations.
Here’s how the discount retailer’s results compared to analysts’ estimates:
- EPS: $1.20 vs $1.18 expected
- Revenue: $6.94 billion vs $6.84 billion expected
Same-store sales rose 6.5% year over year.
Traders soured on the stock as Dollar Tree said it expects full-year profits to be in the lower end of its prior outlook due to inflationary cost pressures.
The retailer raised it sales outlook to between $28.14 billion and $28.28 billion and forecast EPS in the lower range of $7.10 to $7.40.
Dick’s Sporting Goods Tops Q3 Expectations, Raises Outlook
Dick’s Sporting Goods (DKS) shares are up 0.9% in premarket trade after beating Q3 expectations and hiking its outlook.
Here’s how the sporting goods retailer’s results compared to analysts’ expectations:
- Adjusted EPS: $2.60 vs $2.27 expected
- Revenue: $2.96 billion vs $2.7 billion expected
Comparable store sales were up 6.5% year over year.
Dick’s raised its full-year earnings outlook and is now expecting a smaller decline in comparable sales.
The retailer expects full-year adjusted EPS between $11.50 and $12.10 vs $10 to $12 previously.
Comparable sales are expected to fall 1.5% to 3% for the year vs previous guidance for a 2% to 6% drop.
Best Buy Rallies On Q3 Earnings Beat
Best Buy (BBY) shares are rallying 8.2% ahead of the open after beating Q3 expectations.
Here’s how the electronics retailer’s results compared to analysts’ expectations:
- Adjusted EPS: $1.38 vs $1.03
- Revenue: $10.59 billion vs $10.31 billion
Comparable sales fell 10.4% year over year vs analysts’ estimates for a 12.9% decline.
Best Buy reiterated its outlook for the key holiday quarter and improved its full-year outlook.
The retailer expects full-year same-store sales to fall about 10% vs previous guidance for down about 11%.
Zoom Drops On Light Forecast
Zoom Video Communications (ZM) shares are tumbling 7.5% in premarket trade as disappointing sales guidance overshadows a Q3 earnings beat.
Here’s how the company’s results compared to analysts’ expectations:
- Adjusted EPS: $1.07 vs $0.84 expected
- Revenue: $1.10 billion, in line with expectations
Revenue was up 5% year over year vs 8% growth in Q2.
But net income plummeted by $291.9 million.
Zoom lowered its full-year revenue guidance, now expecting $4.37 billion to $4.38 billion in sales vs the average $4.4 billion analyst estimate.
The company expects full-year adjusted EPS of $3.91 to $3.94, beating analysts’ expectations and up from its previous forecast.