TJX (TJX), parent of T.J. Maxx, Marshalls and HomeGoods, turned in strong first-quarter results before the open Tuesday, and raised the low end of its full-year earnings guidance. X Estimates: Earnings growth of 24% to $1.02 a share on 9% revenue growth to $8.5 billion. Same-store sales growth is expected to rise 2.5%, according to Consensus Metrix. Results: EPS of $1.13 on revenue of $8.69 billion and same-store sales growth of 3%. Pretax profit margin widened to 11% from 10.7% a year ago. Total inventories as of May 5 were $4.4 billion, up from $3.7 billion a year earlier. "Customer traffic was once again the primary driver of our comparable store sales increases at each of our four large divisions," CEO Ernie Herrman said in a statement. Outlook: Q2 EPS of $1.02-$1.04, below consensus views for $1.10, on same-store sales growth of 1%-2%. Full-year EPS is now seen at $4.75-$4.83, up from a prior view of $4.73-$4.83 vs. consensus views of $4.93. Stock: Shares rose 3% to … [Read more...] about T.J. Maxx, Marshalls Parent TJX Beats Earnings Forecasts; Stock Jumps
Stock futures notched narrow gains ahead of Tuesday's open, as chip and automakers like Tesla (TSLA) rallied on news from China. X The Dow and S&P 500 each rose a fraction above fair value. General Electric (GE) led the Dow. Micron Technology (MU) and Kohl's (KSS) topped the S&P 500. Micron and NXP Semiconductors (NXPI) led the Nasdaq 100 futures to a 0.4% gain. Auto Rally: Fiat Leads, Tesla Gets Huge Price Target Hike Fiat Chrysler (FCAU) led an early advance among automakers, up more than 2%, after news reports said China's Finance Ministry announced plans to reduce some tariffs on imported vehicles. Fiat shares are trading below a 24.51 buy point in a cup-with-handle base. General Motors (GM) and Ford (F) each gained 0.8%. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Tech Report Market Prep Please enter a valid email address Please select a … [Read more...] about Stock Futures Edge Up; Tesla Rallies, IBD 50 Chipmaker Soars
Department store chain Kohl's (KSS) on Tuesday reported first-quarter earnings that were much better-than-expected. Shares jumped before the open. X Earnings per share shot up 64% to to 64 cents, beating views by 15 cents, according to Zacks Investment Research. Revenue rose 3.4% to $4.208 billion vs. consensus for $3.951 billion. Same-store sales grew 3.6%. Consensus Metrix forecast a same-store sales gain of 2.7%. Kohl's now expects full-year EPS of $5.05-$5.50 vs. its prior target of $4.95 to $5.45. Analysts had expected $5.29. Kohl's popped 6% to 69.39 before the open in the stock market today. The stock has been running up the right side of a consolidation with a 69.58 entry. Kohl's rose 2.8% on Monday following a 5.7% spike last week. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Tech Report Market Prep Please enter a valid email address Please … [Read more...] about Kohl’s Crushes Earnings Views; Stock Spikes Toward Buy Point
Macy's (M) crushed first-quarter expectations early Wednesday, sending the stock shooting higher. X Estimates: A 50% rise in EPS to 36 cents on 1.7% sales growth to $5.43 billion, according to Zacks Investment Research. Consensus Metrix projects same-store sales notching up 0.3% and same-store sales, including licensed departments, to lift 1%. Results: EPS of 48 cents on revenue of $5.54 billion. Same-store sales rose 3.9% on an owned basis and 4.2% on an owned and licensed basis. Stock: Macy's jumped 12% to 33.54 early in the stock market today after closing up 1% Tuesday to 29.93. Shares are hovering around their 50-day moving average after briefly breaching the key level last week. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Market Prep Tech Report Please enter a valid email address Please select a newsletter GO x Thank You! You will now receive IBD … [Read more...] about Macy’s Stock Soars After Crushing Q1 Earnings Forecasts
The cries of "retail is dead" seem to be on hold for now, but the retail industry is certainly changing. And a new deal with the nemesis of retailers everywhere — Amazon.com (AMZN) — may give Best Buy (BBY) the spark it needs to breakout into a new buy zone. X Earlier this month, Best Buy and Amazon an exclusive multiyear partnership where Best Buy will sell Amazon's new Fire TV edition smart TVs. Best Buy says the Amazon partnership showcases how Best Buy helps technology companies bring their products to life through hands-on, in-store experiences. In the case of Amazon, it's an opportunity to expand awareness of how its Alexa voice-control technology enhances the smart home and entertainment experience. In another example of how Amazon is shifting somewhat from friend to foe with leading retailers, starting last year, Kohl's (KSS) is now accepting Amazon returns at selected stores. Best Buy Earnings Due Best Buy has approximately 1,600 stores across North America, … [Read more...] about Breakout Watch: Will Amazon Deal Fire Up This Retail Stock?