More retailers on deck in this week's earnings reports
The focus is on the consumer with quarterly summaries due from Best Buy, Home Depot and Target.
By Nelson Hem
The focus is on retail in earnings reports this week as the as the crucial holiday shopping season gets underway.
Plenty more retailers are on deck this week, including big-box chain operators Best Buy (BBY), Home Depot (HD) and Target (TGT). Analysts are looking for growth on the top and bottom lines from Home Depot, but declining earnings per share (EPS) from Target and declining revenue from Best Buy relative to a year ago.
Here is a quick look at what analysts expect from some of this week's most prominent reports from retailers:
Abercrombie & Fitch
Analysts expect the hip apparel retailer to say that its per-share earnings fell almost 56 percent year-over-year to 45 cents in the fiscal third quarter. Also, revenues for the quarter are estimated to be more than 9 percent lower to total $1.06 billion.
Note that Abercrombie & Fitch (ANF) missed consensus EPS estimates in the previous two quarters by 50 percent or more. However, the estimate for the third quarter has inched up two cents in the past 30 days. Look for the report Thursday morning before the opening bell.
In its report early Tuesday, this consumer electronics superstore operator is expected to post third-quarter earnings that are more than 63 percent higher than in the year-ago period, to 11 cents per share. Analysts seem certain, as the consensus EPS estimate is unchanged in the past 60 days.
However, revenues for the quarter are predicted to have fallen about 13 percent year-over-year to $9.36 billion. Looking ahead, revenues for the current quarter are so far expected to have declined more than 10 percent, as well as more than 13 percent for the full fiscal year.
The fiscal third-quarter forecast for America's largest home improvement store chain calls for EPS of 89 cents and for revenues to total $19.17 billion. That would be up from a profit of 74 cents per share and $18.13 billion in sales in the year-ago period. Note though that the consensus EPS estimates has slipped by a penny in the past 60 days.
For the current quarter, which includes most of the holiday shopping season, sequential growth in EPS is expected, but revenues are predicted to be marginally lower than a year ago. The company is scheduled to share its results Tuesday before the markets open.
This struggling department store operator is forecast to report a net loss of $1.72 per share in its Wednesday morning's report. That would be deeper than the 93 cent-per-share net loss in the year-ago period. Note that net losses were much larger than predicted in the previous four quarters.
J.C. Penney (JCP) also is expected to say that revenues totaled $2.8 billion in the third quarter, which would be lower than a year ago by more than four percent. So far, a marginal revenue increase and a narrower net loss are forecast for the current quarter.
Third-quarter earnings from this Minneapolis-based retailer are expected to come to 63 cents per share on $17.37 billion in revenue in Thursday's report. In the same period of the previous year, the company reported 81 cents per share on sales of $16.93 billion.
Note that the company narrowly missed EPS expectations in two of the past four quarters. And the consensus estimate for the most recent quarter has ticked down by a penny over the past 60 days. So far, a modest decline in both EPS and revenue is forecast for the current quarter.
Other retails predicted to report year-over-year earnings growth this week include ANN (ANN), Buckle (BKE), Dollar Tree (DLTR), Foot Locker (FL), Fresh Market (TFM), GameStop (GME), Gap (GPS), L Brands (LTD), Lowe's (LOW), PetSmart (PETM), Ross Stores (ROST), TJX Companies (TJX), Urban Outfitters (URBN) and Williams-Sonoma (WSM).
Other companies likely to report year-over-year earnings growth this week include ADT (ADT), Deere (DE), Green Mountain Coffee Roasters (GMCR) , Medtronic (MDT) , Pandora Media (P) , Salesforce.com (CRM) and Tyson Foods (TSN).
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The solid report comes a month after the retailer closed all of its Canadian operations.
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