United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Retail Roundup: Shares of Target, Kohl’s, TJX , Ross Stores and L Brands dip post-earnings

Proactive Investors Tuesday, 20 November 2018
A slew of retailers reported quarterly results early this week. While there were bright spots in each report, the retail sector took a dive just ahead of Black Friday. More than 164 million shoppers are expected to head to the stores Thanksgiving weekend, according to the National Retail Federation. Target Target Corporation (NYSE:TGT) missed the mark in its third quarter. The retailer reported earnings of $1.09 per share, lower than the average estimate of $1.12 per share. Revenue totaled $17.59 billion, below the $17.8 billion analysts had expected. Same-store sales rose 5.1%, but still short of the 5.2% estimate. Target plans to offer free two-day shipping on select items through December 22 with no minimum order or membership required. Shares slipped more than 12% to $67.73 in Tuesday pre-market trading. READ: Small-Cap Snapshot: Wireless speaker company Sonos shares slip despite good feeling about the holiday season Kohl’s Kohl’s Corp (NYSE:KSS) surpassed expectations on same-store sales in its and raised its forecast for the year ahead, but it wasn’t impressive enough to boost its shares. The retailer reported earnings of $0.98 per share, better than the $0.96 per share expected. Net sales totaled $4.369 billion, just squeaking past the $4.365 billion analysts were expecting. Same-store sales increased 2.5%, surpassing the 1.74% growth expected. Kohl’s expects adjusted earnings per share to be within a range of $5.35 to $5.55, above its prior guidance of $5.15 to $5.55 but on the lower end of the $5.12 to $6.00 range analysts expected. Shares fell close to 12% to $62.87. TJX Companies The TJX Companies Inc (NYSE:TJX) shares didn’t fall as hard as its fellow retailers, but still ended up in negative territory post-earnings. Customer traffic continued to climb higher, driving net sales 12% higher to $9.8 billion in its third quarter. Same-stores sales were up by 7%, ahead of analyst estimates of a 4.1% increase. The stores under TJX’s umbrella include TJ Maxx, Marshalls, HomeGoods, Winners, HomeSense, TK Maxx and Sierra Trading Post. Shares were almost 7% to $45.68. Ross Stores Ross Stores Inc (NASDAQ:ROST), the “dress for less” retailer, reported earnings of $0.91 per share, slightly above the average estimate of $0.90 per share. Revenue totaled $3.549 billion, just about in-line with the $3.55 billion analysts had expected. Same-store sales were up 3% compared with a 4% increase in the previous third quarter. The retailer’s board recently declared a regular quarterly cash dividend of $.225 per common share, payable on December 28, 2018 to stockholders of record as of December 7, 2018. Shares sank more than 8% to $84.26. L Brands L Brands Inc’s (NYSE:LB) third-quarter results disappointed as Victoria’s Secret sales continue to decline.  Sales at stores open for at least a year dipped 2% compared with a 4% drop last year. Its brand portfolio includes Victoria's Secret, PINK, Bath & Body Works, La Senza, Henri Bendel, C.O. Bigelow and White Barn. The company plans to slash its annual ordinary dividend to $1.20 from $2.40 and intends to use the savings of $325 million to pay down its debt. The lingerie company came under fire earlier this month when Chief Marketing Officer Ed Razek said in an interview with Vogue that the company has no plans to include transgender or plus-sized models in its annual fashion show, stating that there was no interest in seeing those types of models and suggesting that it would ruin “the fantasy”. Shares slipped nearly 10% to $31.13.   --Updated to include additional retailers and most recent share price   Contact Lenore Fedow at lenore@proactiveinvestors.com Follow her on Twitter: @LenoreMariee
Credit: Reuters Studio - Published < > Embed
News video: Retail stocks plunge

▶ Retail stocks plunge 01:11

Shares of Target, Kohl's, Best Buy, and TJX fell after weak results and forecasts as retail sector is kicking off holiday season. Roselle Chen reports.

Recent related videos from verified sources

ICYMI: Amazon's Big News Week, Facebook and the FTC, Retail Earnings, Pepsi [Video]ICYMI: Amazon's Big News Week, Facebook and the FTC, Retail Earnings, Pepsi

Amazon.com Inc. was all over the news this week. Amazon Amazon is investing $700 million into electric pick up truck startup Rivian, which was announced Friday morning. This highlights the rising..

Credit: The Street     Duration: 03:00Published

Nordstrom and Macy's V. Kohl's and Discount Retailers: How to Stock Shop In 2019 [Video]Nordstrom and Macy's V. Kohl's and Discount Retailers: How to Stock Shop In 2019

The U.S. consumer is currently strong, but likely weakening. Meanwhile, the broad sub-industry of clothing retail can be hard to parse out for investors. Let's take a look at department store..

Credit: The Street     Duration: 03:15Published

You Might Like

Tweets about this

Other recent news in Business

'Obviously it’s a statement of fact that the UK is not within the Pacific': Australia pours cold water on British hopes of joining key trade agreement post-BREXITTwo words in FACEBOOK's latest regulatory filing shows how worried the company is about what it's doing to people (FB)
Your smart light can tell AMAZON and Google when you go to bedSouthwest Airlines declares 'state of operational emergency' with high NUMBER of aircraft out of service
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest