Retail Stocks Are Getting Pummeled
TJX, which owns the T.J. Maxx and Marshalls brands, earlier this morning reported first quarter earnings of $0.64 per share, which was short of expectations for $0.67, on revenue of $6.49 billion against analysts' estimates for $6.6 billion. TJX also cut its fiscal year earnings outlook.
Dick's also reported earnings and revenues that disappointed, with the sporting goods retailer citing difficulties in its golf and hunting segments.
Last night, Urban Outfitters reported same-store sales in its namesake store fell 12% during the first quarter.
Other retailers under pressure today include Dick's peer TJX peer Ross Stores (ROST), down about 3%, Cabelas (CAB), down more than 5%, and Urban Outfitters teen-retail peers American Eagle (AEO), down 4% and American Apparel (APP), down 2.5%.
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market