|Bid||27.28 x 900|
|Ask||27.37 x 900|
|Day's Range||27.31 - 28.82|
|52 Week Range||12.28 - 32.86|
|Beta (5Y Monthly)||1.58|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 23, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||31.18|
If any retailers were still in denial about the dramatic shift toward e-commerce, the pandemic took care of that quickly: e-commerce now accounts for 20% of all U.S. retail spending.
This week has brought a bunch of retail earnings reports, showing that specialty stores are on their way back to health.Urban Outfitters shows strength ahead of holiday seasonUrban Outfitters (NYSE: URBN) reported its quarterly profits rose 38 percent as strength of its brands combined with reduced operating expenses drove growth. The stock climbed as earnings reached a record despite the pandemic. The retailers managed to earn $77 million, or a record 78 cents a share, even though revenue fell 1.8% YoY to $970 million, exceeding Wall Street expectations for both EPS of 45 cents and revenue of $931.5 million.Burlington Stores tops Q3 estimates but warns on weak start to Q4While sales were challenged due to a weak August which saw deficient inventory levels and delayed back to school purchases, Burlington Stores (NYSE: BURL) saw comparable store sales trends improve significantly throughout the other two months of the quarter. The company did not provide any formal guidance, but revealed that the undergoing quarter has gotten off to a weak start.Dick's Sporting Goods came out with solid earnings and big newsDick's Sporting Goods (NYSE: DKS) reported solid earnings Tuesday, with sales at stores open for at least one year growing 23.2% over last quarter. But its major news was that the CEO Ed Stack is stepping down after 36 years in which he transformed his family's small business into a national presence, took the company public and enacted a strong stance on the US gun debate. The current president Lauren Hobart will be promoted to this role on February 1, and by doing so, she will become company's first female chief executive.Nordstrom's turnaround is realThe iconic fashion retailer reported better than expected third-quarter results. Nordstrom (NYSE: JWN) delivered the quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.01 per share but significantly below last year's $0.81 per share. This has been a hard year for the retailer who saw its shares lose about 42.7% since the beginning of the year while the S&P 500 gained approximately 10.7%. But after being crushed by the pandemic, Nordstrom now managed to crush Q3 earnings estimates, proving that it is already on the road back to health. COVID-19 gave a severe blow to the retailer due to its focus on selling dressy apparel for work and social events, resulting in sales sinking more than 40% YoY during the first six of the year. But this month, Nordstrom stock has doubled with growing hopes of upcoming COVID-19 vaccines. Also on a bright note, the company is poised to exceed its cost-cutting goals this year, including substantial and permanent reductions to its overhead costs.American Eagle Outfitters - Sometimes a Beat Just Isn't Enough American Eagle Outfitters (NYSE: AEO) posted quarterly earnings of $0.35 per share exceeding Zacks consensus which looked for the company to post $0.33. However, revenue numbers didn't fare quite so well as it amounted $1.03 billion for the quarter ended October 2020, missing the Zacks Consensus Estimate by 2.08%. This compares to year-ago revenues of $1.07 billion. The company did not provide any fourth quarter or full year guidance. For Q4, Street analysts forecasted sales declining only 1% this current quarter but profits are expected to drop another 14%, with an overall loss for the year.Gap fell shortThe Gap Inc (NYSE: GPS) shares tumbled as earnings fell short, but the retailer remains optimistic about the holidays.It expects fourth-quarter sales to be about equal to or slightly higher than a year ago as consumers can't spend on entertainment and travel, the expectation is that this budget will be directed to discretionary goods during the gift giving season. But fiscal third-quarter earnings fell short of estimates as Old Navy and Athleta sales gains did not manage to offset the increased marketing costs aimed at defining core brands and growing market share.Shares fell more than 10% in after-hours trading, having risen more than 51% since the start of this year, Gap has a market cap of $10 billion. Gap earned $95 million or earnings per share of 25 cents versus the expected $140 millionand 32 cents by Refinitiv data on a revenue of $3.99 billion versus the $3.82 billion expected.Same-store sales were up as sales were boosted in large part by the company's digital business, which surged 61% and accounted for 40% of total sales during the quarter. Gap said it added more than 3.4 million new customers online.Retailers are hoping for a 'holiday miracle'It seems that recovery from the pandemic is underway despite a spike in COVID-19 infections across the globe. Arising number of cases could still hamper both sales and traffic in physical stores. Retailers such as Abercrombie & Fitch (NYSE: ANF) and Macy's (NYSE: M) have cited this threat of temporary store closures. But retailers are hoping that the enthusiasm brought on by the holidays might be strong enough to conquer consumer fears of being infected by actually going shopping One thing is certain - in a changing apparel retail environment, clothing retailers now have the opportunity to fully demonstrate how vital online shopping really is.This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases - If you are looking for full Press release distribution contact: email@example.com Contributors - IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: firstname.lastname@example.orgThe post Weekly Retail Recap appeared first on IAM Newswire.See more from Benzinga * Click here for options trades from Benzinga * December Will Be The Big IPO Finale Of 2020 * Reinventing Vaccines To Save Lives And The Economy(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Urban Outfitters, Inc. (NASDAQ:URBN) just released its latest third-quarter results and things are looking bullish. It...