Costco, More Retailers On Deck For Earnings This Week
Overall, things are beginning to grow quiet on the earnings front, even though more retailers are on deck to share their most recent results this holiday-shortened week.
Consensus estimates from Wall Street analysts call for year-on-year earnings growth from Costco Wholesale Corporation (NASDAQ: COST) and Michael Kors Holdings Ltd (NYSE: KORS), but for Tiffany & Co. (NYSE: TIF) earnings to have declined, when they report this week.
Per-share earnings from GameStop Corp. (NYSE: GME) are forecast to be the same as in the year-ago period, while a net loss is anticipated from Abercrombie & Fitch Co. (NYSE: ANF).
Below is a quick look at what analysts are looking for from these results, as well as a peek at the week's other most anticipated reports.
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Abercrombie & Fitch
The consensus forecast from 11 Estimize estimates calls for a net loss of $0.36 per share, compared to a loss $0.17 per share in the same period of last year. Also, revenues for the three months that ended in April are expected to have fallen around 11 percent to about $730.64 million.
Note that the consensus Wall Street estimate for earnings per share (EPS) was on target in the previous period, but analysts underestimated EPS in the three periods before that. Look for Abercrombie to release its latest results Thursday before the regular trading session begins.
Costco
In its report late Wednesday, this warehouse superstore operator is expected to say that its EPS rose about 12 cents from a year ago to $1.19, based on 23 Estimize estimates. Wall Street analysts are a bit more pessimistic, placing EPS at just $1.16 for the fiscal third quarter.
The Estimize forecast has revenues up about 6 percent to nearly $26.95 billion for the most recent quarter, again more optimistic than the Wall Street expectations of $26.67 billion. Looking ahead, analysts expect sequential and year-over-year growth on both the top and bottom lines in the current quarter.
GameStop
This specialty retailer will report $0.59 per share earnings for its first quarter, the same as in the year-ago period, according to Wall Street. Ten Estimize estimates put the figure at a penny less. Note that Wall Street analysts underestimated EPS in the previous two quarters by up to four cents per share.
Revenue for the three months that ended in April will be slightly lower than a year ago to $1.98 billion, says Estimize. So far, Wall Street sees sequentially lower top line and bottom line results for the current quarter, which ends in July. Look for GameStop report earnings after Thursday's closing bell.
Michael Kors
When it shares its results first thing Wednesday, this Hong Kong-based retailer is expected to say its EPS for the most recent quarter came in at $0.93, according to 36 Estimize estimates. That would be up from $0.78 per share in the same quarter of last year, and it is higher than company's guidance.
The Estimize forecast for Michael Kors also calls for revenue to be more than 18 percent higher than a year ago to $1.10 billion for the fiscal fourth quarter. Wall Street analysts are calling for revenue for the full year to be more than 32 percent higher than a year ago to $4.38 billion.
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Tiffany
Some 10 estimates from Estimize suggest a profit of $0.93 per share and revenue that totals $1.00 billion for fiscal first quarter, when Tiffany reports Wednesday morning. That would compare the $0.97 per share earnings and revenue of $1.01 billion reported in the same period of last year.
Wall Street analysts are even more pessimistic, forecasting EPS of $0.70 and revenue of $923.56 million for the most recent period. And their consensus EPS estimate was $0.79 just 60 days earlier. Looking ahead, they so far see marginal growth in revenue in the current quarter, but on smaller earnings.
And Others
Other companies that will show earnings growth this week, if forecasts are accurate, include Chico's FAS, Palo Alto Networks and Toronto-Dominion Bank. EPS from TiVo and Toll Brothers will be the same as a year ago. Shrinking earnings are anticipated from Seadrill, as well as a net loss for Workday.
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