|Bid||16.78 x 4000|
|Ask||17.14 x 3100|
|Day's Range||16.33 - 17.12|
|52 Week Range||15.11 - 31.39|
|Beta (3Y Monthly)||0.76|
|PE Ratio (TTM)||6.88|
|Earnings Date||Nov 18, 2019 - Nov 22, 2019|
|Forward Dividend & Yield||0.97 (5.53%)|
|1y Target Est||19.58|
Levi's reported earnings after the bell yesterday that beat analyst's expectations, yet saw profit fall by 4%. Specialty Retail Consultant at JJK Research Janet Kloppenburg joins Yahoo Finance's Alexis Christoforous and Brian Sozzi to discuss.
The entrepreneur-turned-venture-capitalist said for those building startups, "Sometimes victory is just getting out of bed and being willing to take steps forward."
The three major U.S. stock market indexes fell as new government data showed that China’s economic growth slowed down in the third quarter.
Credit Suisse analysts went on a downgraded spree in the retail sector, lowering Macy's Inc. , Gap Inc. and Victoria's Secret parent company L Brands Inc. to underperform from neutral based on analyst forecasts that weak recent trends will continue through the holiday season. L Brands stock slumped 8% after the downgrade, Gap stock slumped 5.8% in Friday trading, and Macy's stock was down 4.3%. Among the factors causing the pressure are a shorter holiday shopping calendar and tariff and tourism uncertainty. Analysts expressed concern, and lowered estimates, across the U.S. softline retailer group, but were especially cautious on these three retailers. Credit Suisse thinks Macy's "same-store sales trends likely running below Street estimates in Q3" with the "earnings-per-share algorithm in much more fragile state today vs. pre-2008 recession." Analysts cut Macy's price target to $12 from $19. Analysts cut Gap's price target to $14 from $20. "We believe the pending spinoff of Old Navy will ultimately prove to have been destructive to equity value, and have low confidence that the company will be able to achieve the offsets to dis-synergy costs laid out in its recent presentation," analysts said. And L Brands' price target was slashed to $14 from $22. "In a tougher U.S. backdrop, we see risk to 2H guide that assumes a fairly quick turn in Victoria's Secret trends with the multitude of challenges facing the company today making it difficult to support the stock on valuation alone," Credit Suisse said. Analysts top picks in the sector are all rated outperform and all had price target hikes: Vans parent VF Corp. , up to $116 from $104; off-price retailer Ross Stores Inc. , up to $130 from $120; Burlington Stores Inc. , up to $245 from $235; and Nike Inc. target price raised to $112 from $105. The SPDR S&P Retail ETF is down nearly 9% over the past year while the S&P 500 index has gained 8% for the period.
It appears an upcoming Target store has led several major retailers to consider joining a Placerville shopping center.
Retailers will surely be looking for green shoots of consumer spending in hopes for improved business activities during the festive period.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Gap Inc. has announced the first brick-and-mortar location for its year-old men's athleisure line Hill City. The 12-month pop-up store, located in San Francisco, is the first of many efforts to move the brand from e-commerce into the real world, with a Hill City Truck heading to the streets of San Francisco, wholesale partnerships that will put Hill City product in stores like Neighborhood Goods and Ships in Tokyo, and local events. Gap is taking steps to spin off its Old Navy brand, and raise awareness of brands like Athleta and children's label Jack & Janie, which the company will franchise. Gap stock is down more than 35% over the past year while the S&P 500 index is up 6.5% for the period.
Breaking down some of Tuesday's major Q3 earnings results from giants such as JPMorgan Chase and UnitedHealth. A look at what to expect from Netflix's third quarter financials Wednesday. And why Lululemon is a Zacks Rank 1 (Strong Buy) stock...
Children's Place Inc. said Tuesday that it will relaunch the Gymboree brand in North America in early 2020. The relaunch will include a Gymboree website, app and shop-in-shop locations in more than 200 The Children's Place stores. There will also be an enhanced Gymboree loyalty program. Gymboree filed for bankruptcy in January and sold its Jack and Janie line to Gap Inc. . Children's Place won the Gymboree intellectual property in March with a $76 million bid. Children's Place stock has slumped more than 45% over the past year while the S&P 500 index is up 7.8% for the period.
Today, children’s fashion brand, Janie and Jack, launches its first-ever Family Dog collection with exclusive matching looks for dogs. To celebrate the launch and in honor of National Adopt a Shelter Dog Month, the brand is partnering with Mom Brain podcast co-host, author and dog lover, Hilaria Baldwin, dog influencer and photographer, The Dogist, and model, dog adoption advocate and founder of Mother of Dogs, Allie Rizzo to raise funds for the American Society for the Prevention of Cruelty to Animals (ASPCA). According to the ASPCA, each year approximately 5.3 million companion animals enter animal shelters nationwide.
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts, usually don't make them change their opinion towards a company. This time it may be different. During the fourth quarter of 2018 we observed increased volatility and small-cap stocks underperformed the […]
Worsening street conditions and shifts in the retail industry have an increasing number of tenants interested in downsizing.
SAN FRANCISCO, Oct. 10, 2019 /PRNewswire/ -- In celebration of International Day of the Girl, Athleta Girl today introduces its Code of Confidence, created in partnership with Girls Leadership as a resource for engaging with girls about what they wear. In support of Athleta's mission to inspire a community of active, healthy women and girls to reach their limitless potential, the Code of Confidence seeks to change the conversation around girls' appearance, focusing on how they feel instead of how they look, empowering them to look inward for validation rather than seeking the approval of others. "Ask her how she feels, instead of telling her she looks cute," says Head of Athleta Girl Katy Miller.
Zumiez (ZUMZ) is gaining from favorable comps trend and solid bottom-line picture along with investments in logistics and omni-channel efforts. Also, it is on track with store remodeling and openings.
Macy's (M) plans to hire nearly 80,000 seasonal workers. These workers will be appointed for Macy's and Bloomingdale stores, distribution and fulfillment centers, and call centers.
(Bloomberg Opinion) -- Ascena Retail Group Inc.’s gloomy quarterly results are a reminder not just of why the giant chain feels such enormous pressure to change. They also show the challenges retailers face when they try to create a whole greater than the sum of its parts. The retailer, the corporate parent of chains such as Lane Bryant and Ann Taylor, said Thursday its gross margin slipped to 54.3% from 58.1% a year earlier as it increased discounts and promotions to clear inventory. Comparable sales sank 2% from a year earlier for its chains excluding Dressbarn, which is in the process of shuttering all of its 616 stores.The weakness emphasizes why the company has already been undergoing a dramatic overhaul: In addition to winding down Dressbarn by the end of the year, it has sold Maurices, a 943-store chain. And it could rip up its empire even further, as Bloomberg News has reported that it is considering a divestiture of plus-size chains Catherines and Lane Bryant.Slicing up a specialty retailer is certainly in vogue right now: Gap Inc. is soon to split in two, and J. Crew is to spin off its Madewell chain. But Ascena is different because it’s an apparel conglomerate that was bolted together only four years ago.When Ascena acquired Ann Inc., the company that included Ann Taylor and Loft, executives promised many benefits. Ascena had been growing via acquisition for about a decade by then, and the idea was that it knew how take advantage of efficiencies (centralizing back-office functions, for example, or stuffing several brands into one e-commerce distribution center).But whatever Ascena has done on that front, it is hard to argue that it is now a healthier retailer. The company has had five consecutive years of losses as it has struggled to offer the right clothing selection, relied heavily on discounting and maintained stores in less-than-ideal locations.Ascena, after having paid about $2 billion for Ann, now has a market capitalization of about $61 million. There are Manhattan penthouses worth as much this chain of more than 3,400 stores. It had been clear for some time that the Ann acquisition was not shaping up to be a boon for Ascena. My colleague Tara Lachapelle noted as far back as 2017 – when the deal forced the company to take a significant charge – that the Ann deal was adding to the company’s problems.Now, if Ascena ends up unloading Catherines and Lane Bryant, what will remain is just the old Ann Inc. plus children’s retailer Justice. The deal will have proved to be a nearly pointless exercise. More important, its failure would call into question the company’s strategy over a much longer period.Stacey Widlitz, president of SW Retail Advisors, points out that Ascena’s diversification plan ultimately left it fighting three distinct battles on what are arguably the toughest fronts in retail: The value apparel category, where Target Corp. and Old Navy dominate; the teen category, where online shopping has been especially disruptive; and mid-priced apparel, where almost no retailers are prospering right now.Maybe it’s for the best, then, that longtime CEO David Jaffe and CFO Robb Giammatteo have each departed those roles in recent months.Can new leadership revitalize the company? It’s doubtful. Ann Taylor and Loft have performed relatively well lately, and they are positioned to pick up market share that department stores are shedding. But those chains are putting too much effort toward growing their outlet businesses online, which will cheapen the brands over the long term and potentially hurt margins.Whatever happens with those chains now, one thing is abundantly clear: Ascena’s experiment has not worked out as planned. To contact the author of this story: Sarah Halzack at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.