{"id":8563,"date":"2023-05-14T12:23:05","date_gmt":"2023-05-14T16:23:05","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/with-major-retail-earnings-on-deck-this-is-what-to-look-out-for-say-analysts\/"},"modified":"2023-05-14T12:23:06","modified_gmt":"2023-05-14T16:23:06","slug":"with-major-retail-earnings-on-deck-this-is-what-to-look-out-for-say-analysts","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8563","title":{"rendered":"With major retail earnings on deck, this is what to look out for, say analysts"},"content":{"rendered":"
\n

Retail earnings kick off next week with Home Depot Inc., Target Corp., and Walmart Inc. set to report their quarterly results.<\/p>\n

Home Depot
\n HD,
\n +0.97%<\/bg-quote>
\n reports first quarter results before market open on May 16, with Target
\n TGT,
\n -0.55%<\/bg-quote>
\n set to report its results on the following day. Walmart
\n WMT,
\n -0.03%<\/bg-quote>
\n reports first-quarter results before market open on May 18. The following week, Lowe\u2019s Cos.
\n LOW,
\n -0.02%<\/bg-quote>
\n and BJ\u2019s Wholesale Club Holdings Inc.
\n BJ,
\n -1.82%<\/bg-quote>
\n report their respective first-quarter results before market open on May 23, and Costco Wholesale Corp.
\n COST,
\n +0.43%<\/bg-quote>
\n reports fiscal third-quarter results after market close on May 25.<\/p>\n

\n

\u201cAs we head into earnings, we believe WMT is one of the best positioned in our coverage and our data checks support our view,\u201d wrote Jefferies Equity Analyst Corey Tarlowe, in a note released Thursday. \u201cWe have new ticket and traffic data indices to estimate comp sales for WMT and TGT. Given the data, we\u2019re raising our Q1 and FY WMT comp sales above cons and guidance.\u201d<\/p>\n

See Now: Krispy Kreme set for doughnut \u2018halo effect\u2019 at McDonald\u2019s and Target, say analysts<\/strong><\/p>\n

Jefferies now expects a 6.8% increase in Walmart\u2019s first-quarter comp sales. Analysts surveyed by FactSet are expecting a same-store sales increase of 5.4% compared to the same period last year. Jefferies also raised its first-quarter Walmart EPS estimate to $1.34, above both the $1.31 estimate from analysts\u2019 surveyed by FactSet and Walmart\u2019s guidance of $1.25 to $1.30 a share. Jefferies also raised its Walmart full-year EPS estimate to $6.22, above FactSet consensus of $6.13 and the retailer\u2019s guidance of $5.90 and $6.05.<\/p>\n

\u201cWe\u2019re raising estimates as the company continues to gain share and grow operating income,\u201d wrote Tarlowe. \u201cWe believe WMT\u2019s initiatives (automation, advertising, Walmart+, etc) are helping to build an attractive and growing flywheel, and we are becoming more positive on WMT\u2019s growth and profitability prospects ahead.\u201d<\/p>\n

However, Jefferies is \u201cincrementally cautious\u201d on Target. \u201cAccording to our data, we are modeling TGT Q1 comps down 1% led by lower traffic,\u201d wrote Tarlowe. Analysts surveyed by FactSet expect Target\u2019s same-store sales to increase 0.2% compared to the prior year.<\/p>\n

Target\u2019s margins also remain pressured, according to Tarlowe, who notes that stock nonetheless offers attractive risk-reward. \u201cWe believe that TGT is undervalued with upside ahead as fundamentals improve,\u201d he wrote.<\/p>\n

See<\/strong>: Bed Bath & Beyond bankruptcy: What it means for industrial and commercial real estate<\/strong><\/p>\n

Analytics company Placer.ai has been tracking foot traffic to U.S. retailers. Visits to major retail chains are down year-over-year almost across the board, according to Placer.ai. In January Target visits were up almost 4% year-over-year, but were down 6.3% in April, according to Placer.ai\u2019s data.<\/p>\n

Placer.ai data also show that Walmart visits were down 8.8% year-over-year in April. However, for retail giants such as Target, Walmart and Costco, the \u201cquality\u201d of visits may be improving even as the number of visits falls, says Placer.ai\u2019s Marketing Content Manager Shira Petrack, in a report Thursday. \u201cDiving into the visit quality metrics shows that median dwell time at leading superstores and wholesalers rose across the board between Q1 2022 and Q1 2023,\u201d Petrack wrote. \u201cWalmart saw the biggest increase, followed by Sam\u2019s Club and Costco.\u201d<\/p>\n

Additionally, cross-shopping trends are positive. \u201cBetween Q1 2022 and Q1 2023, the share of Target and Walmart consumers who visited superstores also increased across the board \u2013 which could mean that consumers are looking for ways to stretch their budgets by consolidating shopping trips and\u00a0buying essentials in bulk,\u201d wrote Petrack.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Retail earnings kick off next week with Home Depot Inc., Target Corp., and Walmart Inc. set to report their quarterly results. Home Depot HD, +0.97% reports first quarter results before market open on May 16, with Target TGT, -0.55% set to report its results on the following day. Walmart WMT, -0.03% reports first-quarter results before […]<\/p>\n","protected":false},"author":1,"featured_media":8564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-8563","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nWith major retail earnings on deck, this is what to look out for, say analysts | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Retail earnings kick off next week with Home Depot Inc., Target Corp., and Walmart Inc. set to report their quarterly results. 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