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2:46 a.m. May 7, 2021 - By Ciara Linnane
Spectrum Brands blows past estimates, raises FY21 sales guidanceSpectrum Brands Holdings Inc. posted stronger-than-expected earnings for its fiscal third quarter Friday, and raised its fiscal 2021 guidance. The owner of household brands swung to a profit of $36.8 million, or 88 cents a share, in the quarter to March 29, from a loss of $59.2 million, or $1.29 a share, in the year-earlier period. Adjusted per-share earnings came to $1.76, well ahead of the 99 cents FactSet consensus. Sales rose to $1.149 billion from $937.8 million, also ahead of the $1.032 billion FactSet consensus. Sales at the company's hardware and home improvement division rose 18.4% to $389.5 million. "Security sales reflected growth across retail, e-commerce and new build channels," the company said. Home and personal care sales rose 28% to $297.9 million, driven by strength in small kitchen appliances. Pet care sales rose 23.9% to $293.6 million, driven by aquatics and companion animal categories, while home and garden sales rose 21% to $168.8 million. Spectrum Brands is now expecting fiscal 2021 sales to rise by double-digits, compared with earlier guidance of high single-digit growth. The company is raising its total savings gross target from productivity improvements to $200 million from $150 million. The board has approved a new 3-year, $1 billion share buyback program. Shares were not yet active premarket, but have gained 16% in the year to date, while the S&P 500 has gained 11.9%.
4:56 a.m. May 6, 2021 - By Tonya Garcia
Wayfair revenue rises year-over-year but slips from Q4Wayfair Inc. reported first-quarter net income totaling $18.2 million, or 16 cents per share, after a loss of $285.9 million, or $3.04 per share, last year. Wayfair has adopted a new accounting standard, effective Jan. 1, 2021. Under the old system, the company says it would have reported a loss of 31 cents per share. Adjusted EPS was $1.00, ahead of the FactSet consensus for 26 cents. Revenue of $3.478 billion was up from $2.330 billion last year and ahead of the FactSet consensus for $3.394 billion. In the , Wayfair reported revenue of $3.67 billion. Revenue was up 49% year-over-year compared with 45% in the fourth quarter. Active customers reached 33.2 million as of March 31, up 57.3% year-over-year. Average order value was $237, up from $235 last year. And repeat customers placed 74.5% of total orders in the first quarter, compared with 69.8% last year. Wayfair stock was up 4.5% in Thursday premarket trading, and has gained 20% for the year to date. The S&P 500 index is up 11% for 2021 so far.
3:33 a.m. May 6, 2021 - By Tonya Garcia
Papa John's Epic Stuffed Crust pizza drives sales growthPapa John's International Inc. shares rose 4.2% in Thursday premarket trading after the pizza delivery company reported first-quarter earnings and revenue that beat expectations. Net income totaled $27.1 million, or 82 cents per share, up from $8.4 million, or 15 cents per share, last year. Adjusted EPS of 90 cents beat the FactSet consensus for 56 cents. Revenue of $511.7 million was up from $409.9 million last year and ahead of the FactSet consensus for $470.0 million. Comparable sales in North America grew 26.2% and were up 23.2% on an international basis. Papa John's attributed the growth to the new Epic Stuffed Crust pizza in North America and the company's expanding customer base. The FactSet consensus was for domestic comparable sales growth of 14.9% and international growth of 17.4%. Papa John's stock has gained 10.8% for the year to date while the S&P 500 index is up 11% for the period.
2:59 a.m. May 6, 2021 - By Tomi Kilgore
Tapestry swings to profit that beats expectations, as Coach and Kate Spade sales top forecastsCoach parent Tapestry Inc. reported Thursday that it swung to a fiscal third-quarter profit that beat expectations, as Coach and Kate Spade sales rose above forecasts. The luxury lifestyle brands company's stock was little changed in premarket trading. Net income for the quarter to March 27 was $91.7 million, or 32 cents a share, after a loss of $677.1 million, or $2.45 a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share results swung to earnings of 51 cents from a loss of 27 cents, beating the FactSet consensus of 31 cents. Net sales increased 18.7% to $1.27 billion, above the FactSet consensus of $1.22 billion. Coach sales grew 25% to $964 million to beat expectations of $933.2 million and Kate Spade sales increased 1% to $252 million to top expectations of $251.5 million. The company expects fiscal 2021 revenue to grow at a mid-teens percentage rate, while the current FactSet sales consensus of $5.47 billion implies 10.2% growth. The stock has soared 55.8% year to date, while the S&P 500 has gained 11.0%.
2:13 a.m. May 5, 2021 - By Tomi Kilgore
Lumber Liquidators stock set to selloff after profit beat expectations but sales came up shortShares of Lumber Liquidators Holdings Inc. were indicated down about 5% in premarket trading Wednesday, after the wood flooring retailer reported first-quarter profit that beat expectations but sales that came up short, as results continued to be impacted by tariffs on certain products imported from China. Net income fell to $10.6 million, or 36 cents a share, from $12.2 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 23 cents. Net sales rose 6.0% to $283.5 million, below the FactSet consensus of $293.1 million, as same-store sales grew 6.9% to miss expectations of a 10.4% rise. The company said same-store sales were driven by strong demand for installation and home improvement projects and shutdowns related to the COVID-19 pandemic a year ago. Cost of sales rsoe 3.4% to $167.9 million. The company did not provide financial guidance, citing uncertainties surrounding the impact of the COVID-19 pandemic as it relates to consumer spending and supply chain disruptions. The stock has dropped 19.5% year to date through Tuesday, while the S&P 500 has climbed 10.9%.
5:29 a.m. May 4, 2021 - By Tomi Kilgore
Ford April vehicle sales jumped to nearly 200,000, as EV sales soared nearly fourfoldFord Motor Co. said Tuesday that total U.S. April vehicle sales rose 64.8% from a year ago to 197,813 vehicles, boosted by a near fourfold rise in electric vehicle (EV) sales. April retail sales were 57.1% above 2020 results, but were also 23.7% above pre-pandemic April 2019 results. EV sales rose 262% to a monthly record of 11,172 vehicles, representing 5.6% of total vehicles sold, amid new product offerings. Total April truck sales grew 47.5% to 97,054 vehicles, SUV sales surged 119.8% to 90,383 vehicles and car sales dropped 20.9% to 10,376 vehicles. Transaction pricing in April rose to a record $43,600 per vehicle. Ford's stock, which slipped 0.6% in premarket trading, has rallied 32.3% year to date through Monday, while shares or rival General Motors Co. have hiked up 37.3% and the S&P 500 has gained 11.6%.
3:21 a.m. May 4, 2021 - By Tonya Garcia
Under Armour now guiding for full-year earnings rather than a lossUnder Armour Inc. stock rose 2.8% in Tuesday premarket trading after the athletic company reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $77.8 million, or 17 cents per share, after a loss of $589.7 million, or $1.30 per share, last year. Adjusted EPS of 16 cents beat the FactSet consensus for 4 cents. Revenue of $1.257 billion was up from $930.2 million and also ahead of the FactSet consensus for $1.131 billion. Under Armour now expects full-year 2021 revenue to be up at a high-teen percentage rate compared to previous guidance for a rise in the high-single-digit percentage rate. Full-year 2021 EPS is expected to be 2 cents to 4 cents, compared with previous guidance for a loss of 18 cents to 20 cents. And adjusted EPS is expected to be 28 cents to 30 cents versus previous guidance for 12 cents to 14 cents. The FactSet consensus is for revenue of $4.941 billion, suggesting a rise of 10.4% and EPS of 21 cents. Under Armour that it has agreed to pay $9 million to settle an SEC charge that it misled investors. Under Armour neither admitted or denied the charge. Under Armour stock has gained 40.8% for the year to date while the S&P 500 index is up 11.6% for the period.
2:43 a.m. May 4, 2021 - By Tomi Kilgore
CVS stock surges to multiyear high after profit and revenue beats, raised outlookShares of CVS Health Corp. rallied 3.6% toward a 2 1/2-year high in premarket trading Tuesday, after the drugstore chain and health care services company reported first-quarter profit and sales that rose above expectations, with growth in all segments, and raised its full-year outlook. Net income rose to $2.22 billion, or $1.68 a share, from $2.01 billion, or $1.53 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $2.04 from $1.91, beating the FactSet consensus of $1.73. Revenue increased 3.5% to $69.10 billion, above the FactSet consensus of $68.36 billion. Pharmacy services revenue rose 3.8% to $36.32 billion to beat the FactSet consensus of $35.41 billion, retail and long-term care revenue grew 2.3% to $23.27 billion to top expectations of $23.11 billion and health care benefits revenue increased 6.7% to $20.48 billion to beat expectations of $20.06 billion. For 2021, the company raised its guidance range for adjusted EPS to $7.56 to $7.68 from $7.39 to $7.55, and affirmed it cash flow outlook of $12.0 billion to $12.5 billion. The stock, on track to open at the highest price seen since November 2018, has climbed 13.8% year to date, while the S&P 500 has gained 11.6%.
3:50 a.m. April 29, 2021 - By Tonya Garcia
Domino's revenue falls shy of Street expectationsDomino's Pizza Inc. shares fell 1% in Thursday premarket trading after first-quarter revenue fell shy of Street expectations. Net income totaled $117.8 million, or $3.00 per share, down from $121.6 million, or $3.07 per share, last year. Revenue totaled $983.7 million, up from $873.1 million last year. The FactSet consensus was for EPS of $2.94 and revenue of $985.0 million. U.S. same-store sales were up 13.4%, while international same-store sales rose 11.8%. The FactSet consensus was for U.S. same-store sales growth of 9.7%, and international growth of 6.0%. Domino's stock is up 5.3% for the year to date while the S&P 500 index has gained 11.4% for the period.
3:23 a.m. April 29, 2021 - By Ciara Linnane
Altria profit beats as revenue falls short and company sticks with full-year guidanceAltria Group Inc. said Thursday it had net income of $1.424 billion, or 77 cents a share, in the first quarter, down from $1.552 billion, or 83 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.07, ahead of the $1.05 FactSet consensus. Revenue fell 5.1% to $6.036 billion from $6.359 billion. Revenue net of excise taxes came to $4.880 billion, just below the $4.976 billion FactSet consensus. "Against a challenging comparison, our tobacco businesses performed well in the first quarter and we continued to make progress advancing our non-combustible portfolio," said Billy Gifford, Altria's Chief Executive, in a statement. The company said it has acquired full ownership of On! oral nicotine pouches as it moves beyond smoking in a world increasingly moving away from combustible tobacco. The company said it recorded a non-cash, pre-tax unrealized loss of $200 million as a result of a decrease in the fair value of JUUL, which was affected by the coronavirus pandemic. It said Canadian cannabis company Cronos was also hurt by the pandemic, which limited access to retail stories. The company said it still expects full-year adjusted EPS to range from $4.49 to $4.62. The FactSet consensus is for EPS of $4.58. Shares were up 0.6% premarket and have gained 15% in the year to date, while the Dow Jones Industrial Average [ has gained 10.5% and the S&P 500 has gained 11.4%.
3:18 a.m. April 29, 2021 - By Tonya Garcia
McDonald's Q1 sales surpass pre-COVID 2019 levelsMcDonald's Corp. reported first-quarter net income of $1.54 billion, or $2.05 per share, up from $1.01 billion, or $1.47 per share, last year. Excluding strategic gains, adjusted EPS was $1.92, ahead of the FactSet consensus for $1.81. Revenue totaled $5.125 billion, up from $4.714 billion last year and also ahead of the FactSet consensus of $5.036 billion. Global comparable sales rose 7.5%, with U.S. comparable sales rising 13.6%. The FactSet consensus was for a global comparable sales increase of 4.9%. "Our first quarter 2021 global comparable sales and revenues surpassed first quarter 2019 levels, even as resurgences and operating restrictions persist in many parts of the world," said Chris Kempczinski, chief executive of McDonald's, in a statement, adding that the company is focused on "marketing in a culturally relevant way" and "doubling-down on digital, delivery and drive thru." McDonald's stock slipped 0.9% in Thursday premarket trading, though shares have gained 8.3% for the year to date. The Dow Jones Industrial Average is up 10.5% for 2021 so far.
2:23 a.m. April 29, 2021 - By Ciara Linnane
Dish Network tops earnings estimates but Pay-TV and wireless subscribers fallDish Network Corp. said Thursday it had net income of $630 million, or 99 cents a share, in the first quarter, up from $73 million, or 13 cents a share, in the year-earlier period. Revenue rose to $4.50 billion from $3.22 billion a year ago. The FactSet consensus was for EPS of 83 cents and revenue of $4.49 billion. The company's net Pay-TV subscribers fell by 230,000, after declining by 413,000 in the year-earlier quarter. Dish ended the quarter with 11.06 million Pay-TV subscribers, including 8.69 million Dish TV subscribers and 2.37 million Sling TV subscribers. Retail wireless net subscribers fell by abut 161,000 in the quarter, compared with a decrease of 353,000 in the fourth quarter. The company closed the quarter with 8.90 million retail wireless subscribers. Shares were not yet active premarket, but have gained 28.6% in the year to date, while the S&P 500 has gained 11.4%.
2:12 a.m. April 29, 2021 - By Tomi Kilgore
Overstock stock shoots higher after swinging to a big profit beat, revenue nearly doublesShares of Overstock.com Inc. surged 8.6% in premarket trading Thursday, after the online retailer reported first-quarter profit and revenue that were well above expectations, as active users nearly doubled. The company swung to net income of $16.1 million, or 33 cents a share, from a loss of $16.3 million, or 40 cents a share, in the year-ago period. Excluding discontinued operations, earnings per share came to 56 cents. The FactSet EPS consensus was 4 cents. Revenue soared 94% to $659.9 million, above the FactSet consensus of $582.4 million. Active customers rose 92% to 9.9 million, while orders delivered 66% to 3.6 million and average order value grew 17% to $183. The stock has lost 8.8% over the past three months through Wednesday, while the Amplify Online Retail ETF has gained 3.7% and the S&P 500 has advanced 12.6%.
3:00 a.m. April 28, 2021 - By Tomi Kilgore
Chili's parent Brinker stock rises after profit and revenue miss, but outlook is above expectationsShares of Chili's restaurant parent Brinker International Inc. surged 2.2% in premarket trading Wednesday, after the restaurant operator reported fiscal third-quarter profit and revenue that missed expectations, as Winter Storm Uri weighed on results, but provided an upbeat outlook for the current quarter. Net income for the quarter to March 24 was $33.9 million, or 73 cents a share, after $30.8 million, or 81 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 78 cents, missing the FactSet consensus of 82 cents. Total revenue fell 3.7% to $828.4 million, below the FactSet consensus of $849.1 million, as same-store sales fell 3.3% to miss expectations of a 0.8% decline. Chili's same-store sales were flat, below expectations of 1.6% growth. The company estimates Winter Storm Uri reduced sales by $10.5 million and adjusted EPS by 6 cents. For the fiscal fourth quarter, the company expects adjusted EPS of $1.55 to $1.70 and revenue of $950 million to $1.0 billion, above the FactSet consensus for EPS of $1.27 and revenue of $942 million. The stock has rallied 16.0% year to date through Tuesday, while the S&P 500 has advanced 11.5%.
3:57 a.m. April 26, 2021 - By Tonya Garcia
Albertsons swings to a loss, shares sinkAlbertsons Cos. Inc. swung to a fourth-quarter loss, sending shares down 4.3% in Monday premarket trading. Net loss totaled $144.2 million, or 37 cents per share, after net income of $67.8 million, or 12 cents per share, last year. Adjusted EPS of 60 cents beat the FactSet consensus for 51 cents. Sales of $15.77 billion were up from $15.44 billion last year and also ahead of the FactSet consensus for $15.66 billion. Digital sales grew 282% and identical sales were up 11.8%. The FactSet consensus was for same-store sales growth of 10.6%. For fiscal 2021, Albertsons is guiding for EPS in the range of $1.95 to $2.05 and an identical sales decline of 6% to 7.5%, which represents growth of 9.4% to 10.9% on a two-year stack. The FactSet consensus is for EPS of $1.86 and a same-store sales decline of 7.2%. Albertsons shares are up 9.1% for the year to date while the S&P 500 index is up 11.3% for the period.
2:34 a.m. April 26, 2021 - By Tomi Kilgore
Etsy stock falls after KeyBanc analyst backs away from long-time bullish stanceShares of Etsy Inc. fell 1.9% in premarket trading Monday, after KeyBanc analyst Edward Yruma backed away from his long-time bullish call on the online crafts marketplace, citing valuation and a lower near-term likelihood of positive earnings revisions. Yruma downgraded Etsy to sector weight, after being at overweight since October 2017. He said after outperforming the broader market by a wide margin since his upgrade, valuation looks "fair" and current consensus analyst expectations look "reasonable." "We believe that Etsy remains one of the best long-term growth opportunities in our coverage," Yruma wrote in a note to clients. "However, we move to Sector Weight given what we view as a fair valuation and lower likelihood of near-term earnings beats." The stock has soared 224.2% over the past 12 months through Friday, while the Nasdaq Composite has climbed 62.3% and the S&P 500 has advanced 47.4%.
3:18 a.m. April 22, 2021 - By Tonya Garcia
Tractor Supply shares jump after 'record performance' drives guidance increaseTractor Supply Co. stock rose 6.7% in Thursday premarket trading after the rural lifestyle retailer reported a first-quarter earnings beat and raised its fiscal 2021 guidance. Net income totaled $181.4 million, or $1.55 per share, more than double the $83.8 million, or 71 cents per share, the company reported last year. Sales of $2.79 billion were up from $1.96 billion last year. The FactSet consensus was for EPS of 98 cents and sales of $2.47 billion. Comparable sales were up 38.6%, also ahead of the FactSet consensus for 23.5% growth. And digital sales grew triple digits. Tractor Supply Chief Executive Hal Lawton called it a "record performance" and announced a rise in full-year guidance. Tractor Supply now expects 2021 EPS of $7.05 to $7.40, up from previous guidance for $6.50 to $6.90. And sales are now expected to be $11.4 billion to $11.7 billion, up from $10.7 billion to $11.0 billion previously. The FactSet consensus is for full-year EPS of $6.79 and sales of $10.9 billion. Tractor Supply stock has rallied 28.2% for the year to date while the S&P 500 index is up 11.1% for the period.
12:54 p.m. April 21, 2021 - By Claudia Assis
Sleep Number misses Q1 sales on supply problemShares of Sleep Number Corp. fell in the extended session Wednesday after the retailer reported first-quarter earnings above Wall Street expectation and raised its guidance, but mentioned a supply snag that hit its sales in the quarter. Sleep Number said it earned $66.6 million, or $2.51 a share, in the quarter, compared with $39.1 million, or $1.36 a share, in the year-ago quarter. Sales rose 20% to $568 million, and same-store sales rose 20%, Sleep Number said. More than $50 million worth of deliveries, or about two weeks, shifted out of the quarter due to "temporary" foam supply constraints, the company said. Analysts polled by FactSet expected EPS of $1.83 on sales of $580 million. Sleep Number raised its full-year 2021 EPS outlook to at least $6.50, compared with a prior outlook of at least $6. The stock ended the regular trading session up 4.2%.
3:56 a.m. April 20, 2021 - By Tonya Garcia
AutoNation adjusted earnings reach a recordAutoNation Inc. shares rose 3.3% in Tuesday premarket trading after reporting record adjusted earnings in the first quarter following a loss in the same period in 2020. Net income totaled $239.4 million, or $2.85 per share, after a loss of $232.3 million, or $2.58 per share, last year. Results include gains of 7 cents per share from the sale of AutoNation's remaining stake in Vroom. Adjusted EPS reached a record $2.79, up 207% from 91 cents last year and well ahead of the FactSet consensus for $1.88. Revenue of $5.90 billion was up from $4.67 billion last year and also ahead of the FactSet consensus for $5.04 billion. Same-store revenue rose 27%, with new vehicle same-store sales up 22% and used vehicle same-store sales up 28%. The FactSet consensus was for 10% growth overall. AutoNation has signed a deal with Peacock Automotive Group to acquire 11 stores and one collision center in Hilton Head and Columbia, SC, and Savannah, GA. AutoNation has set a goal of 1 million new and pre-owned vehicles annually. The latest acquisition will bring AutoNation's total footprint in the U.S. to 325 locations. AutoNation stock has gained 39.8% for the year to date, outpacing the S&P 500 index , which is up 10.8% for the period.
2:23 a.m. April 19, 2021 - By Ciara Linnane
Harley-Davidson shares jump 5.3% premarket as earnings blow past estimatesHarley-Davidson Inc. shares rose 5.3% in premarket trade Monday, after the iconic motorcycle maker blew past estimates for its first-quarter earnings. The company posted a net profit of $259 million, or $1.68 a share, in the quarter, up from $70 million, or 45 cents a share, in the year-earlier period. Adjusted per-share earnings also came to $1.68, ahead of the 90 cents FactSet consensus. Revenue rose to $1.423 billion from $1.298 billion a year ago, also ahead of the $1.258 billion FactSet consensus. Chief Executive Jochen Zeitz said the company's efforts to reshape its business with a five-year Hardwire strategy was having a positive impact on earnings, especially in its key North American market. Motorcycle sales rose 30% in that region in the quarter, but were down 36% in EMEA, up 1% in Asia Pacific and down 59% in Latin America. That yielded a 9% rose in global retail motorcycle sales. Sales in EMEA were hurt by COVID lockdowns, while in Latin America, sales were hurt by the reduction in dealers and pricing actions. The company raised its 2021 guidance and now expects motorcycle revenues growth of 30% to 35%, up from prior guidance of 20% to 25%. Shares have gained 10% in the year to date, just below the S&P 500's 11.4% gain.
3:30 a.m. April 15, 2021 - By Tonya Garcia
Rite Aid reports narrower losses, sales beatRite Aid Corp. shares rose 1.3% in Thursday premarket trading after the pharmacy retailer reported a fourth-quarter sales beat. Net losses totaled $18.5 million, or 34 cents per share, after a loss of $324.7 million, or $6.08 per share, last year. Adjusted losses of 78 cents per share were ahead of the FactSet consensus for a loss of 90 cents per share. Revenue of $5.92 billion was up from $5.73 billion last year and also ahead of the FactSet consensus for $5.85 billion. The quarter was impacted by "a historically soft cough, cold and flu season, the deferral of elective procedures and related acute prescription volume and the impact of COVID-19 on selling, general and administrative expenses," Chief Executive Heyward Donigan said in a statement. For March and April to date, Rite Aid has administered two million COVID-19 vaccine shots, and Donigan said prescription trends heading back "to positive levels." For the first quarter, Rite Aid is guiding for net income between $10 million and a net loss of $10 million and retail pharmacy revenue between $6.1 billion and $6.3 billion. The company expects COVID-19 to continue to have an impact. The FactSet consensus is for pharmacy sales of $6.084 billion. Rite Aid stock is up 20.3% for the year to date while the S&P 500 index [s spx] has gained 9.8% for the period.
3:45 a.m. April 14, 2021 - By Tonya Garcia
Bed Bath & Beyond swings to profit but sales fall shortBed Bath & Beyond Inc. stock dropped 9% in Wednesday premarket trading after the home goods retailer reported fourth-quarter earnings that beat expectations, but fell short on sales. Net income totaled $9.1 million, or 8 cents per share, after a loss of $65.4 million, or 53 cents per share, last year. Adjusted EPS of 40 cents beat the FactSet consensus for 31 cents. Sales of $2.619 billion were down from $3.107 billion last year and just below the FactSet consensus for $2.627 billion. Enterprise digital comp growth was 86%, with the namesake chain up 99%. And enterprise comp sales growth was 4% with the Bed Bath & Beyond chain up 6%. Other Bed Bath & Beyond names include Buy Buy Baby and Harmon. For fiscal 2021, Bed Bath & Beyond maintained its guidance for net sales between $8.0 billion and $8.2 billion. The FactSet consensus is for $8.177 billion. For the first quarter, the company expects net sales on a reported basis to increase 40% year-over-year. The company experienced store closures in the comparable 2020 period and . Taking that into account, net sales on a reported basis are expected to rise 65% to 70%. The FactSet consensus is for sales of $1.908 billion, suggesting a 45.9% increase. The company increased its three-year share repurchase plan to $1 billion from $825 million. Bed Bath & Beyond stock has rallied 57.3% for the year to date while the benchmark S&P 500 index is up 10.3% for the period.
11:12 a.m. April 12, 2021 - By Tomi Kilgore
Alibaba's stock rallies toward biggest gain in nearly 4 years as antitrust fine removes overhangShares of Alibaba Group Holding Ltd. shot up 9.1% in afternoon trading Monday, putting them on track for the biggest one-day gain in four years, as investors expressed relief following . The China-based ecommerce giant's Chief Executive Daniel Yong Zhang said in a conference call after the fine, "we don't expect material negative impact" following changes to comply with the regulator's orders. The company said it will not appeal the decision. "Positively, Alibaba does not expect further investigations on this matter, and we believe the removal of this overhang could be a positive for the shares," Raymond James analyst Aaron Kessler wrote in a note to clients. Kessler trimmed his stock price target to $330 from $350, to reflect increased investments in grocery and local deals categories as China-based ecommerce giant looks to expand in lower-tier cities, but reiterated his strong buy rating. Truist's Youssef Squali reiterated his buy rating and $330 stock price target, saying the long-term prospects of Alibaba remain "highly attractive." The stock, which is headed for the biggest one-day gain since it rose 13.3% on June 8, 2017, has advanced 8.0% over the past three months, while the iShares MSCI China ETF has slipped 3.9% and the S&P 500 has gained 8.4%.
4:35 a.m. April 12, 2021 - By Tonya Garcia
Urban Outfitters says sales have grown for the first quarter to dateUrban Outfitters Inc. said Monday that comparable retail sales have risen in the high-single digits for the first quarter so far compared to 2020. In North America the increase was led by double-digit comparable sales gains at Free People and the namesake brand. Sales at Anthropologie have improved, though remain slightly negative. COVID-19 restrictions have kept most European stores closed for the first quarter, however U.K. locations are expected to reopen on Monday. The FactSet consensus is for first-quarter sales of $870.8 million, suggesting 48% year-over-year growth. The company also announced that Tricia Smith has joined as global chief executive of the Anthropologie brand. Smith spent 26 years with Nordstrom Inc. and was most recently CEO of clothing and accessories retailer Tilly's. Anthropologie's previous global CEO, Hillary Super, stepped down on Friday, April 9. Urban Outfitters stock slipped 1.7% in Monday premarket trading, but has rallied 53% for the year to date. The S&P 500 index is up nearly 10% for 2021 so far.
3:30 a.m. April 12, 2021 - By Tomi Kilgore
Aphria stock falls after wider-than-expected loss, revenue misses as COVID-19 reduced demandThe U.S.-listed shares of Aphria Inc. dropped 7.6% in premarket trading Monday, after the Canada-based cannabis company reported a wider-than-expected fiscal third-quarter loss and revenue that rose less than forecast, citing reduced demand resulting from the COVID-19 pandemic. For the quarter ending Feb. 28, the company swung to a net loss of C$366.8 million ($292.7 million), or C$1.14 a share, from net income of C$5.0 million, or C$0.02 a share, in the year ago period. Excluding nonrecurring items, such as unrealized losses and gains on convertible debt, adjusted losses per share widened to 15 cents from 4 cents, compared with the FactSet consensus for a per-share loss of 5 cents. Revenue rose 6.4% to $C153.6 million ($122.6 million), but missed the FactSet consensus of C$161.3 million. "As a result of the ongoing effects of COVID-19, including provincial lockdowns and provincial boards taking measures to lower their inventory levels which had previously included forecasted cannabis market growth, the company experienced what it believes is a transitory reduction in demand during the quarter," the company said in a statement. The average retail selling price of adult-use cannabis fell to 11% to C$3.82 per gram, while the average retail selling price of medical cannabis slipped 3.9T to C$6.69 per gram. "We remain excited with the opportunities created for both Aphria shareholders and Tilray stockholders in completing our , and believe that together, we will create one of the strongest global cannabis and consumer packaged goods companies in the world," Chief Executive Irwin Simon said. Aphria's stock has soared 135.3% year to date through Friday, while the Cannabis ETF has rallied 57.4% and the S&P 500 has gained 9.9%.
3:01 a.m. April 12, 2021 - By Tomi Kilgore
Signet Jewelers stock surges after revenue, same-store outlook raisedShares of Signet Jewelers Ltd. surged 3.1% in premarket trading Monday, after the diamond jewelry retailer raised its sales outlook, citing stronger-than-expected conversion and average ticket. The company raised its revenue guidance range for the first quarter to $1.57 billion to $1.60 billion from $1.42 billion to $1.46 billion and for the full fiscal year to $6.00 billion to $6.14 billion from $5.85 billion to $6.00 billion. The FactSet consensus for the first quarter is $1.45 billion and for the year is $6.00 billion. The company now expects first-quarter same-store sales growth of 97% to 99%, up from previous guidance of up 80% to 84%, and raised its same-store sales guidance for the year to 17% to 20% from 14% to 17%. "The Company believes this topline strength is likely due to a combination of traction from strategic initiatives as well as tailwinds from stimulus, tax refunds and consumer enthusiasm on the heels of vaccine rollouts - particularly during the Company's guest appreciation events in late March," the company said in a statement. The stock has soared 124.0% year to date through Friday, while the S&P 500 has gained 9.9%.
4:21 a.m. April 9, 2021 - By Tomi Kilgore
PriceSmart's stock set to fall after March sales updateShares of PriceSmart Inc. was indicated down more than 2% in premarket trading Friday, after the membership-based retailer reported March same-store sales fell 5.9% from a year ago. The company noted that in March 2020, same-store sales had soared 15.7% as members stocked up amid uncertainties over the COVID-19 pandemic. Net sales for March 2021 rose 0.5% to $307.6 million. The one analyst that provided a net sales forecast to FactSet is expecting fiscal third-quarter sales of $819 million. The stock has slipped 2.9% over the past three months through Thursday, while the SPDR S&P Retail ETF has soared 33.2% and the S&P 500 has gained 7.1%.
3:01 a.m. April 8, 2021 - By Tomi Kilgore
The Buckle's March sales more than triples from a year agoThe Buckle Inc. said Thursday that sales for the 5-week fiscal month ended April 3 rose 240.2% from a year ago, to $139.4 million from $41.0 million. When compared with the fiscal month of March in 2019, pre-pandemic, sales rose 69.5%. Sales for the nine-week period ended April 3 totaled $205.5 million, up 97.7% from the same period a year ago, and up 45.0% from the 2019 period. That is above the FactSet consensus for fiscal first-quarter sales of $203.3 million. The company said sales for the 2020 period were significantly impacted by the closure of all of the apparel, accessories and footwear retailer's stores, starting March 18, 2020, as a result of the COVID-19 pandemic. Buckle's stock, which was still inactive in premarket trading, has rallied 38.7% year to date while the S&P 500 has gained 8.6%.
4:48 a.m. April 7, 2021 - By Tomi Kilgore
Lamb Weston stock drops after profit miss, while sales beat expectationsShares of Lamb Weston Holdings Inc. sold off 3.0% in premarket trading Wednesday, after the frozen potato products seller reported fiscal third-quarter sales that came in well above forecasts but profit that fell below expectations, as COVID-19-related disruptions to manufacturing and distribution operations led to higher costs. Net income for the quarter to Feb. 28 declined to $66.1 million, or 45 cents a share, from $111.4 million, or 76 cents a share. Excluding nonrecurring items, adjusted earnings per share fell 42% to 45 cents, below the FactSet consensus of 51 cents. Sales declined 4% to $895.8 million, beating the FactSet consensus of $816.5 million, as foodservice revenue fell 22% to $219.5 million while retail revenue rose 23% to $162.5 million. Volume was down 6%, due primarily to lower demand from frozen potato products outside the home given government-imposed restrictions on restaurants and other foodservice operations as a result of the COVID-19 pandemic. The rate of volume decline improved from the 14% drop in the first half of fiscal 2021. Price and mix increased 2%. For the first four weeks fo the fiscal fourth quarterly, U.S. shipments were about 90% of levels seen in the fiscal fourth quarter of 2019. The stock has gained 2.8% year to date through Tuesday, while the S&P 500 has advanced 8.5%.
2:17 a.m. April 5, 2021 - By Tomi Kilgore
GameStop's stock tumbles after stock offering plans, first-quarter sales updateShares of GameStop Corp. tumbled 9.7% in premarket trading Monday, after the videogame and consumer electronics retailer announced plans to sell up to 3.5 million shares of its common stock. The company plans to use the proceeds from the "at-the-market" offering, which represents about 5% of the shares outstanding, to accelerate its transformation, for general corporate purposes and to strengthen its balance sheet. Separately, GameStop said total sales for the first nine weeks through April 4 rose 11% from the same period a year ago, including 5.3% growth in February and an 18% rise in March. GameStop said sales were negatively impacted by temporary store closures and other mandated restrictions as a result of the COVID-19 pandemic, resulting in a 13% decrease in the store base from the same period a year ago. The stock's pullback comes after , to snap a two-week decline of 31.6%. Over the past three months, the stock has rocketed 1,002.2% through last week, while the S&P 500 has gained 7.9%.
4:30 a.m. April 1, 2021 - By Tonya Garcia
Arts-and-crafts retailer Joann swings to a profitArts-and-crafts retailer Joann Inc. shares rose 5% after announcing fourth-quarter results that swung to a profit. This was the first earnings announcement for the company after going public on . Net income totaled $38.3 million, or $1.05 per share, after a loss of $358.1 million, or $10.26 per share, last year. Sales of $840.8 million were up from $695.6 million last year. Comparable sales grew 21%. FactSet does not yet have consensus numbers for the company. Joann stock closed Wednesday up 2.2% to $10.15. The was $12.
3:26 a.m. March 31, 2021 - By Tonya Garcia
Walgreens sales miss expectations after weak cold and flu seasonWalgreens Boots Alliance Inc. reported fiscal second-quarter net income of $1.03 billion, or $1.19 per share, up from $946.0 million, or $1.07 per share last year. Adjusted EPS of $1.40 beat the FactSet consensus for $1.10 per share. Sales of $32.78 billion were up from $31.34 billion last year but below the FactSet consensus for $36.59 billion. Walgreens total excludes sales from discontinued operations of $4.8 billion. Comparable sales in the U.S. fell 3.5% due to a weak cough, cold and flu season. Comp sales for Boots UK fell 17.9% as COVID-19 restrictions reduced foot traffic on major high streets and transportation hubs. "Overall, we have achieved a good financial quarter with results well ahead of expectations, despite significant impacts from COVID-19, and we have raised our full-year EPS guidance," said Walgreens' new Chief Executive Roz Brewer in a statement. The former Starbucks Corp. executive assumed the role on . "I am optimistic about our ability to drive sustainable, long-term value for our shareholders, while acknowledging that there is still work to be done to stabilize the base business." Walgreens raised its fiscal 2021 adjusted EPS guidance to mid-to-high single digit growth in constant currency from low single-digit growth. The pharmacy retailer also expects the $6.5 billion divestiture of to be complete before the end of the fiscal year. Walgreens says it has administered eight million COVID-19 vaccinations and conducted five million COVID-19 tests. Walgreens stock rose 2.6% in Wednesday premarket trading and have gained 15.8% over the past year. The S&P 500 index is up 53.2% for the last 12 months.
6:07 a.m. March 30, 2021 - By Tonya Garcia
Academy Sports stock jumps after earnings beatAcademy Sports & Outdoors Inc. stock rose 3.4% in Tuesday trading after the retailer reported fourth-quarter earnings that beat expectations and gave upbeat guidance. Net income totaled $91.5 million, or 97 cents per share, up from $17.3 million, or 24 cents per share, last year. Adjusted EPS of $1.09 was more than double the FactSet consensus of 50 cents per share. Sales totaled $1.60 billion, up from $1.37 billion last year and also ahead of the FactSet consensus for $1.58 billion. Comparable sales rose 16.1%, beating the FactSet consensus for 14.1% growth. For 2021, Academy is guiding for comparable sales in the range of a 2% decline to a 2% rise and EPS of $2.70 to $2.95. The Factset consensus is for a comparable sales decline of 3.3% and EPS of $2.39.
2:45 a.m. March 29, 2021 - By Ciara Linnane
Cal-Maine shares up 2.2% premarket as profit blows past estimates, offsetting sales missCal-Maine Foods Inc. shares rose 2.2% in premarket trade Monday, after the egg producer posted a far bigger-than-expected profit for its fiscal third quarter, offsetting a sales miss. The Jackson, Miss.-based company posted net income of $13.5 million, or 28 cents a share, in the quarter to Feb. 27, after income of $13.7 million, or 28 cents a share, in the year-earlier period. Sales rose 3.9% to $359.1 million from $345.6 million. The FactSet consensus was for EPS of 7 cents and sales of $369.0 million. Chief Executive Dolph Baker said the company benefited from strong retail demand for shell eggs as consumers continue to eat more at home, while restaurants and food service businesses showed only modest improvement given continued restrictions relating to the coronavirus pandemic. " .. this market segment has not returned to pre-pandemic demand levels," said Baker. Average sales price for shell eggs was $1.25 a dozen in the quarter, compared with $1.24 a dozen a year ago. "Sales prices have increased since the end of the third fiscal quarter, although they are not expected to approach the high prices realized in the fourth quarter last fiscal year," he said. Cal-Maine continues to see strong demand for specialty eggs, with sales accounting for 41.5% of overall egg sales revenue, compared with 37.2% a year ago. The company is resuming its dividend payment and will pay a cash dividend of about 3.4 cents a share to on May 13 to shareholders of record as of April 28. Shares have gained 7.9% in the year to date, while the S&P 500 has gained 6%.
3:36 a.m. March 26, 2021 - By Ciara Linnane
Victoria's Secret parent L Brands raises quarterly guidance as sales get boost from stimulus, easing of COVID restrictionsVictoria's Secret parent L Brands Inc. said Friday it is raising its first-quarter per-share earnings guidance to reflect improved sales trends that it expects are being driven by changes in consumer spending patterns stemming from government stimulus checks, a relaxation of COVID-19 restrictions on movement and other factors. The company, which also owns Bath & Body Works, said it now expects EPS to range from 85 cents to $1.00, up from prior guidance of 55 cents to 65 cents. The FactSet consensus is for EPS of 62 cents. "The environment remains uncertain, and there is no assurance that these improved trends will continue," the company said in a statement. Shares jumped 4.6% premarket on the news and are up 60% in the year to date, while the S&P 500 has gained 4%.
6:20 a.m. March 25, 2021 - By Tomi Kilgore
GameStop, AMC stocks bounce after sharp losses, as they look to halt losing streaksShares of GameStop Corp. jumped 12.0% and of AMC Entertainment Holdings Inc. rallied 6.9% in morning trading Thursday, following sharp losses in the previous session, as they looked to snap losing streaks. GameStop's stock had plunged 33.8% on Wednesday, , on the back of and an analyst downgrade, to cap a five-day, 42.7% selloff. Meanwhile, AMC shares had tumbled 15.4% on Wednesday, and 35.6% amid a four-day losing streak, as losses spread among other . GameStop shares have soared 615.4% year to date and AMC's stock has run up 354.7%, while the S&P 500 has edged up 3.2%.
3:14 a.m. March 24, 2021 - By Tomi Kilgore
Winnebago stock set to surge after big profit, revenue beats and upbeat outlookShares of Winnebago Industries Inc. were indicated up more than 2% in premarket trading Wednesday, after the recreational vehicle company reported fiscal second-quarter profit and revenue that were well above expectations, amid signs of "strong retail momentum" heading into the spring season. Net income rose about fourfold to $69.1 million, or $2.04 a share, from $17.3 million, or 51 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share climbed to $2.12 from 67 cents, beating the FactSet consensus of $1.42. Revenue grew 34.0% to $839.9 million, above the FactSet consensus of $805.2 million. Towable revenue increased 55.0% to $439.3 million, well above the FactSet consensus of $368.4 million, while motorhome revenue rose 17.5% to $382.6 million to beat expectations of $358.8 million. "Strong retail demand, low field inventory, and record committed dealer orders set the table for continued robust performance, but it should be especially noted we also believe there is secular and ongoing growth in outdoor lifestyle products as consumer priorities have changed due to the pandemic," said Chief Executive Michael Happe. The stock has run up 28.7% year to date through Tuesday, while the S&P 500 has gained 4.1%.
2:11 a.m. March 24, 2021 - By Tomi Kilgore
ACV Auctions IPO prices above the expected range, valuing company at nearly $4 billionACV Auctions Inc. announced the pricing of its initial public offering, which was above the expected range, as the New York-based provider of a digital marketplace for wholesale vehicle transactions raised $413.75 million. The IPO priced late Tuesday at $25, above the expected range of between $20 and $22 a share, which was recently raised from an original expectation of between $18 and $20 a share. The pricing valued the company at about $3.85 billion. The stock is expected to begin trading on the Nasdaq on Wednesday under the ticker symbol "ACVA." Goldman Sachs, J.P. Morgan and Citigroup are the lead book-running managers. The company recorded a net loss of $41.0 million on revenue of $208.4 million in 2020, after a loss of $77.2 million on revenue of $106.8 million in 2019. The company is going public at a time of tempered investor demand for IPOs, as the Renaissance IPO ETF has lost 2.1% year to date while the S&P 500 has gained 4.1%.
4:51 a.m. March 18, 2021 - By Tonya Garcia
Petco earnings beat expectations, expects continued strength in the pet care categoryPetco Health & Wellness Co. shares rose 5.6% in Thursday premarket trading after the pet care company reported fourth-quarter earnings that beat expectations. Net losses totaled $6.2 million, or 3 cents per share, after a loss of $7.2 million, or 3 cents per share, for the same period last year. Adjusted EPS of 17 cents was up 103% from last year and ahead of the FactSet consensus for 13 cents. Sales totaled $1.338 billion, up from $1.149 billion last year and ahead of the FactSet consensus for $1.309 billion. Petco went public in . "Our category continues to grow powered by the millions of incremental new pets in households, which is creating an annuity for years to come," said Ron Coughlin, chief executive of Petco, in a statement. Petco reduced its total debt by 49% to $1.7 billion using the proceeds from the IPO. For fiscal 2021, Petco is guiding for revenue of $5.25 billion to $5.35 billion and adjusted EPS of 63 cents to 66 cents. The FactSet consensus is for revenue of $5.237 billion and EPS of 60 cents. Petco stock has slipped 0.3% over the past month, but has jumped 17.6% for the month to date. The benchmark S&P 500 index is up 1.5% over the last month
3:37 a.m. March 18, 2021 - By Tonya Garcia
Signet earnings beat expectations, offers outlook for a strong year aheadSignet Jewelers Ltd. shares jumped 6.8% in Thursday premarket trading after the jewelry retailer reported fourth-quarter earnings that beat expectations and gave guidance that exceeded the Street forecast. Net income totaled $245.7 million, or $4.12 per share, up from $178.8 million, or $3.14 per share, last year. Adjusted EPS of $4.15 beat the FactSet consensus for $3.54. Revenue totaled $2.187 billion, up from $2.153 billion last year and also ahead of the FactSet consensus for $2.101 billion. E-commerce sales were up 70% for the quarter. And same-store sales rose 7%, beating the FactSet consensus for 5.1% growth. For the first quarter, Signet is guiding for revenue of $1.42 billion to $1.46 billion and same-store sales up 80% to 84%. The FactSet consensus is for revenue of $1.280 billion and same-store sales growth of 39.3%. For the fiscal year, Signet is guiding for revenue of $5.85 billion to $6.00 billion and same-store sales growth of 14% to 17%. The FactSet consensus is for revenue of $5.739 billion and same-store sales growth of 13.2%. Signet stock has more than doubled, up 120.5%, over the past three months, and has skyrocketed 713% over the last year. The S&P 500 index has gained 65.7% over the last 12 months.
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