Shares of J.M. Smucker and Hormel Foods fell sharply Thursday after weaker-than-expected earnings as consumers continue to turn down packaged foods in favor fresher offerings, especially as Amazon prepares to take over organic grocery chain Whole Foods Market. Shares of Smucker slid nearly 9 percent while shares of Hormel fell 5.3 percent in afternoon trade
Dollar Tree reported better-than-expected quarterly profit and comparable sales, helped by lower costs and discounts as well as a 1 percent rise in same-store sales at its Family Dollar business. Shares of the biggest U.S. dollar-store chain operator rose 9 percent to $81.04 in premarket trading on Thursday after the company raised its profit and
Tiffany reported bigger-than-expected quarterly profit and sales on Thursday, helped in part by higher demand for its fashion and designer jewelry in Japan and lower input costs. Sales at established stores open for more than a year fell 2 percent, steeper than the 1 percent fall expected by analysts polled by research firm Consensus Metrix.
“This has been an unusually disappointing quarter for retailers, with only about half of the companies beating estimates, while over 70 percent in the S&P 500 have beaten those estimates. This is the last week where we could see some positive surprises,” said Erin Gibbs, portfolio manager at S&P Global. Some of the weakness seen
Uber trimmed its losses 14 percent in the second quarter from a year ago, as the ride-hailing giant grew bookings, trips and revenue. The company posted a net loss of $645 million on revenue of $1.75 billion. Revenue this time last year was $800 million. Global trips popped 150 percent from a year ago, while
Mooresville, North Carolina-based Lowe’s reported net income for the second quarter of $1.4 billion, or $1.68 per share, compared to $1.2 billion, or $1.31 a share, one year ago. Excluding a $96 million gain from the sale of Lowe’s interest in its Australian joint venture, the retailer earned $1.57 a share. Revenue increased 6.8 percent,
American Eagle Outfitters surprised Wall Street on Wednesday, reporting same-store sales growth for the second quarter. The teen apparel retailer also posted better-than-expected quarterly revenue and profit, boosted by strong demand for its Aerie line of lingerie. Shares of American Eagle were last climbing about 7 percent on the news. “We are particularly encouraged by
Salesforce reported its second quarter earnings on Tuesday after the bell, and the numbers came in above estimates. Here are the most important numbers: Adjusted EPS: 33 cents vs. 32 cents per share expected by a Thomson Reuters consensus estimate Revenue: $2.56 billion vs. $2.51 billion expected by a Thomson Reuters consensus estimate Despite the
Intuit reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday. Here’s how the company did compared to what Wall Street expected: EPS: 20 cents vs. 17 cents expected, according to Thomson Reuters Revenue: $842 million vs. $804.6 million expected, according to Thomson Reuters For the fiscal first quarter, the company said it expects
U.S. luxury homebuilder Toll Brothers quarterly revenue fell just short of Wall Street estimates as the company’s new line of lower-priced homes targeting millennials weighed on average selling prices. Shares of the company, which narrowed its revenue outlook range and cut the top end of its adjusted gross margin forecast for the full year, were
Medical device maker Medtronic on Tuesday reported a quarterly profit that beat analysts’ estimates, driven by strong demand for its heart and vascular devices. Sales in the company’s cardiac and vascular business, which sells defibrillators, pace-makers, heart valves and stents, rose 5.1 percent to $2.65 billion in the first quarter ended July 28, Medtronic said.
“We believe these industry dynamics will persist through 2017, and we expect comparable sales to be down three to four percent over the remainder of the year,” Johnson added. In response to Foot Locker’s disappointing results and outlook, shares of Nike and Under Armour dropped 4.4 and 3.9 percent, respectively. Entering Friday’s session, Foot Locker
Cosmetics maker Estee Lauder forecast full-year profit ahead of analysts’ estimates and posted higher-than-expected quarterly results, driven by strong demand for its brands such as M.A.C, Tom Ford, and Smashbox. Estee Lauder’s shares rose nearly 5 percent to $103.00 before the bell on Friday. The company said it expects full-year net sales to rise between
Deere reported a second straight quarter of lower- than-expected sales on Friday as demand remained sluggish for its trademark green tractors and harvesting combines, sending the company’s shares down 7 percent in premarket trading. Expectations were high for the company heading into the quarter, analysts said, as it has surprised Wall Street in the past
Clothing retailer Gap reported better-than-expected same-store sales for the second quarter, helped by strong demand for Old Navy products, fewer discounts, and the company’s efforts to better manage inventory. Shares rallied more than 6 percent in extended-hours trading Thursday. The company also said its quarterly net income more than doubled and raised its full-year earnings
Wal-Mart on Thursday reported second-quarter earnings and sales that topped Street expectations, as the big-box retailer continues to expand its online business. Fresh digital initiatives and a growing assortment of products on Walmart.com aided the retailer in boosting online transactions by 60 percent, the company said. Last quarter, e-commerce sales climbed 63 percent, compared to
Alibaba, China’s top e-commerce firm, beat analyst’s estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday’s results show that Alibaba, one of Asia’s most valuable companies, is benefiting from more and more Chinese buying an increasing proportion of everything from food
Shares of L Brands fell nearly 7 percent after the company lowered its guidance for the year. The retailer, which owns stores such as Victoria’s Secret and Bath & Body Works, beat Wall Street’s expectations. It reported second quarter earnings of 48 cents per share and revenue of $2.76 billion, compared with Thomson Reuters expectations
As for guidance, Cisco said for the first quarter of the 2018 fiscal year, it expects 59-61 cents in earnings per share on 1 to 3 percent less revenue than it received for the year-ago quarter. Analysts were expecting 60 cents in earnings per share and $12.05 billion in revenue for guidance for the current
SUNNYVALE, Calif. (AP) _ NetApp Inc. (NTAP) on Wednesday reported fiscal first-quarter earnings of $136 million. On a per-share basis, the Sunnyvale, California-based company said it had net income of 49 cents. Earnings, adjusted for one-time gains and costs, were 62 cents per share. The results surpassed Wall Street expectations. The average estimate of 11
Target reported earnings, revenue and same-stores sales on Wednesday that topped analysts’ expectations for the second quarter, fueled by a jump in online transactions. With more shoppers returning to its brick-and-mortar stores and ringing up purchases on Target.com, the discount retailer raised its outlook for 2017, as signs appeared that its turnaround efforts are making
Shares of Urban Outfitters soared Wednesday after the retailer reported earnings and revenue that topped expectations. In premarket trading, the retailer’s shares surged more than 20 percent. Here’s what Wall Street was expecting: Earnings per share: 44 cents per share, vs. 37 cents expected, according to a survey of analysts by Thomson Reuters. Revenue: $873
TJX Cos., the owner of off-price retail chains T.J. Maxx and Marshalls, reported better-than-expected quarterly profit and sales on Tuesday as its discounts attracted shoppers turning away from department stores and mall-based retailers. TJX sells home furnishings, apparel and accessories of brands such as Tommy Hilfiger and Marc Jacobs at prices 20 percent to 60
Dick’s Sporting Goods shares plummeted more than 18 percent Tuesday morning after the sporting goods retailer missed Wall Street expectations and lowered its 2017 outlook. The stock opened at a low not seen since 2010. Pittsburgh-based Dick’s had hoped to benefit from rivals’ bankruptcies, including those of City Sports and Sports Authority, but competition from
EPS: 50 cents versus 49 cents expected, according to Thomson Reuters. Revenue: $1.13 billion versus $1.51 billion expected, according to Thomson Reuters. North American comparable store sales: up 4 percent versus 3.6 percent expected, according to StreetAccount. Net income rose to $152 million, or 53 cents per share, from $82 million, or 29 cents per
Home Depot on Tuesday reported its highest quarterly revenue in the company’s history, with same-store sales also blowing past Wall Street expectations. While many retailers are struggling to grow sales, Home Depot is riding the home improvement trend as shoppers continue to invest in their homes. Lumber, flooring and electric grills were some of its
Corporate leaders are openly questioning what, if anything, the Trump administration will be able to do for business, given a lack of major action on his promises of corporate tax reform, new health-care policies and a tax on goods coming across the border. CNBC analyzed the latest round of earnings calls and found that while
J.C. Penney‘s stock was in free fall Friday after the besieged retailer turned in a mixed report for the second quarter. With earnings and same-store sales falling short of Wall Street estimates, Penney’s shares sank more than 16 percent shortly in early trading, at one point hitting a low not seen since at least 1972.
But there are more challenges ahead. Chief financial officer Drew Vollero said on a conference call that the company would continue at a slower pace of hiring in the third quarter, noting that the third quarter of last year saw revenue boosts from tentpole events like the Summer Olympics and election. Plus, Vollero said, new
Graphics chipmaker Nvidia saw its stock fall more than 7 percent on Thursday after it reported stronger-than-expected earnings for the second quarter of its 2018 fiscal year, which ended on July 31. EPS: Excluding certain items, $1.01 in earnings per share vs. $0.70 in earnings per share as expected by analysts, according to Thomson Reuters.