|Bid||44.81 x 1100|
|Ask||45.05 x 21500|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||10.49%|
|Beta (3Y Monthly)||1.13|
|Expense Ratio (net)||0.35%|
Shares of Genesco Inc. were indicated up about 11% in premarket trading Friday, after the shoes and accessories retailer reported fiscal third-quarter profit and same-store sales that rose above expectations and raised its full-year outlook, although net sales showed a surprise decline. Net income for the quarter to Nov. 2 rose to $18.9 million, or $1.30 a share, from $14.4 million, or 73 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS grew to $1.33 from 97 cents, above the FactSet consensus of $1.08. Net sales fell to $537.3 million from $539.8 million, missing the FactSet consensus of $540.6 million, but same-store sales growth of 3% beat expectations of a 1.5% rise. Among its segments, same-store sales for its Journeys stores grew 4%, for Schuh rose 3% and Johnston & Murphy fell 6%. Chief Executive Robert Dennis said the fourth quarter has "started well, highlighted by solid results during the Black Friday through Cyber Monday period." As a result, the company raised its fiscal 2020 EPS guidance range to $4.10 to $4.40 from $3.80 to $4.20, while affirming its same-store sales growth outlook of 2% to 3%. The stock has lost 16.7% year to date through Thursday, while the SPDR S&P Retail ETF has gained 6.7% and the S&P 500 has climbed 24.4%.
Confidence is soaring among small business owners. But one group of small business owners is becoming more pessimistic about America’s economy — small business manufacturers.
Shares of At Home Group Inc. plunged 39% in premarket trading Thursday, after the home decor retailer reported fiscal third-quarter earnings that beat expectations, but slashed its full-year profit and same-store sales outlook, citing weak sales of Christmas offerings and tariff-related headwinds. The company reported late Wednesday that it swung to a net loss of $14.6 million, or 23 cents a share, from a profit of $11.1 million, or 17 cents a share, in the year-ago period. Excluding non-recurring items, earnings were breakeven on a per-share basis, compared with the FactSet consensus for a 2-cent loss. Net sales rose 19% to $318.7 million to beat expectations of $314.8 million, while same-store sales fell 2.0% to miss expectations of a 1.9% decline. For fiscal 2020, the company cut its guidance ranges for adjusted EPS to 51 cents to 56 cents from 67 cents to 74 cents, for net sales to $1.35 billion to $1.36 billion from $1.37 billion to $1.39 billion and for same-store sales to down 2.6% to down 2.0% from down 1.5% to up 0.5%. "As more of the [tariff] price-impacted products have arrived in our stores, our analysis has shown that a more unfavorable sales impact began in Q3," said Chief Executive Lewis Bird, according to a FactSet transcript of the post-earnings conference call with analysts. "While we believe the price position of our assortment is competitive among our peers, the customer is beginning to pull back from higher prices on certain tariff-impacted items." The stock has run up 31% over the past three months through Wednesday, while the S&P 500 has gained 4.6%.
Shares of Michaels Companies Inc. plunged 14% in premarket trading Thursday, after the arts and crafts products retailer reported fiscal third-quarter results that missed expectations and provided a downbeat outlook for the current quarter. Net income for the quarter to Nov. 2 fell to $29.9 million, or 19 cents a share, from $86.8 million, or 50 cents a share, in the year-ago period. Excluding non-recurring items, such as a $31.4 million goodwill impairment charge, adjusted EPS came to 40 cents, below the FactSet consensus of 49 cents. Net sales fell to $1.22 billion from $1.27 billion, below the FactSet consensus of $1.26 billion, as the 2.2% decline in same-store sales missed expectations of a 0.5% increase. Michaels expects fourth-quarter same-store sales to be down 2% to 3% given current business trends, a shorter holiday selling season and a potential negative impact from the liquidation of A.C. Moore retail locations. The FactSet consensus was fourth-quarter same-store sales was an increase of 1.0%. The stock has tumbled 47% year to date through Wednesday, while SPDR S&P Retail ETF has gained 7.1% and the S&P 500 has rallied 24%.
Amid the tug of war between bulls and bears, we have highlighted some investing ideas that could prove to be extremely beneficial for investors this holiday season.
While investing in any of the retail stocks could reward investors throughout Cyber Week, a diverse approach in a basket form can also be a great choice.
Cyber Monday could set a new online sales record of $9.4 billion, according to data from Adobe Analytics . That would be an 18.9% increase from last year. It would also follow a record Small Business Saturday, with $3.6 billion in online sales. Black Friday also set an online sales record of $7.4 billion. Sales on smartphones continue to rise, with Black Friday reaching the highest point ever, $2.9 billion. "With Christmas now rapidly approaching, consumers increasingly jumped on their phones rather than standing in line," said Taylor Schreiner, head of Adobe Digital Insights, in a statement. "Even when shoppers went to stores, they were now buying nearly 41% more online before going to the store to pick up." For the month of November, shoppers spent $68.2 billion online. The SPDR S&P Retail ETF is up 9% for the year to date, the Amplify Online Retail ETF has gained 23% and the S&P 500 index is up 25.3% for the period.
Americans??? confidence is dwindling as evident from the soft data for November. However, holiday shopping is shaping up well and make these ETFs and stocks great buys.
Andy Goldberg, SVP Global Brand Planning & Content at American Express, joins Yahoo Finance's Adam Shapiro on The Ticker to break down how 'shopping small' can impact the local economy.
Exchange-traded funds that track retail stocks were lower on Friday, a day that's often considered the busiest shopping day of the year. The widely-traded SPDR S&P Retail ETF was about 0.6% lower midday, while the much smaller Invesco Dynamic Retail ETF fell 0.4%. The declines weren't just a bet on brick-and-mortar: the Amplify Online Retail ETF was 0.3% lower. XRT picks its holdings according to an "equal weight" strategy, which means it has some unconventional names in its top ten: Hibbett Sports Inc. , Murphy USA Inc. and Lithia Motors Inc. are some of its biggest positions.
Shoppers awoke from their Thanksgiving food comas ready to shop, with $600 million in Black Friday online sales tallied by 9am ET, according to Adobe Analytics . Black Friday is on track to finish with $7.4 billion in sales. The cash registers were also ringing on Thanksgiving day, with e-commerce sales hitting $4.2 billion, a 14.5% increase from 2018 and the first time digital sales on Thanksgiving exceeded $4 billion. The biggest e-commerce players, those with more than $1 billion in annual revenue, saw a 244% increase in sales on Thanksgiving day, which Adobe Analytics says is "an indication that large retailers are offering great mobile shopping experiences." The Amplify Online Retail ETF has gained 23.2% for the year to date, the SPDR S&P Retail ETF is up 9.6%, and the S&P 500 index has gained 25.5% for the period.
While an individual stock is certainly a great option to tap the Black Friday deals in the investment world, a basket approach through ETFs is diversified and more cost effective at lower risk.
Tiffany & Co. (TIF) said yes. The luxury jeweler is gearing up to be bought by LVMH (MC.PA) after the luxury retailer proposed with a $16.2 billion deal.
Toys 'R' Us is back, opening the doors to its first new U.S. store in the Westfield Garden State Plaza in Paramus, NJ. A grand opening celebration is scheduled for Saturday at the New Jersey location, with a second store opening on Dec. 7 in the Simon Mall in Houston. For items not available in either store, Toys 'R' Us has partnered with Target Corp. for the new Toys 'R' Us website. Purchases through this portal will be completed through the Target website. "The new Toys 'R' Us has more product for sale in the new stores than many expected," said James Zahn, senior editor of The Toy Book and The Toy Insider. "[M]ost of the major players are represented, with many of this year's hottest toys." Toys, clothing and computers and electronics are the top items shoppers plan to buy on Thanksgiving, according to data from Adobe Analytics. Target stock is up more than 90% for the year to date. The SPDR S&P Retail ETF is up 9.8%. And the S&P 500 index has gained 25.6% for the period.
The retail environment will brace itself for nearly half of the entire U.S. population who will shop this week, according to American Apparel and Footwear Association CEO Rick Helfenbein. Total retail sales for the entire 2019 holiday shopping season could increase by as much as 4% year-over-year to $730 billion, Helfenbein said Tuesday on Fox Business. An estimated 135 million people will shop on Black Friday alone. The retail sector has certainly felt some pain from new tariffs but overall the group "navigated through them," Helfenbein said.
Investors will be paying close attention to Best Buy and Dick’s Sporting Goods when they release quarterly results ahead of the opening bell Tuesday.
Dave Nadig, ETF.com Managing Director, discusses why the SPDR S&P Retail ETF (XRT) is his least favorite pick. He joins Yahoo Finance's Seana Smith on The Ticker.
The Metlife and U.S. Chamber of Commerce Small Business Index is hitting a new record this quarter, reaching its highest score since its inception in 2017. U.S. Chamber of Commerce EVP Neil Bradley joins Seana Smith on The Ticker to discuss.
UBS Financial Services Tracy Byrnes joins Yahoo Finance's Scott Gamm to discuss the implications of the U.S.-China trade war and how investors should be looking at their portfolios going into 2020.
Even with a split between in-store and online consumerism, Cyber Monday is expected to rake in more than $9 billion in sales, a leap from the $7.9 billion it raised last year. Amplify ETF CEO Christian Magoon joins The Final Round to discuss how record low unemployment and consumer confidence is powering the economy.
Cyber Monday sales are on track to hit a record $9.4 billion, according to Adobe Analytics. Yahoo Finance's Seana Smith and retail expert Liz Dunn discuss.
The National Retail Federation is expecting more than 165 million people to shop over the five-day Thanksgiving weekend. As for the general holiday shopping season, the NRF forecasts sales will grow between 3.8 and 4.2%. Katherine Cullen, National Retail Federation’s Senior Director of Retail and Consumer Insights, discusses trends and her outlook for the retail sector.
As many consumers gear up to spend big during the holiday shopping season, a recent survey from CreditWise at Capital One has found that over 70% of people pinpoint personal finance as a main source of stress in their lives. Chris Gatz, Head of CreditWise at Capital One, joins Yahoo Finance's Kristin Myers and Sibile Marcellus, along with 'The Information' Reporter Carleton English, to discuss.