|Bid||0.00 x 3200|
|Ask||0.00 x 800|
|Day's Range||42.01 - 42.37|
|52 Week Range||38.10 - 52.96|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.11|
|Expense Ratio (net)||0.35%|
The Amplify Online Retail ETF (NASDAQ: IBUY ), the first exchange traded fund dedicated to the e-commerce/online retail theme, has earned a five-star rating from Morningstar, the highest rating the research ...
Shares of Abercrombie & Fitch Co. rallied 2.3% in premarket trading Friday, after the apparel retailer announced a new stock repurchase program representing more than 10% of the shares outstanding. The company said it can now buy back up to 7.6 million shares, which at Thursday's closing price of $15.35 would be valued at $116.7 million. Based on about 65.7 million shares outstanding as of June 7, the company could buy back up to 11.6% of the total. "This new share repurchase program reflects our ongoing confidence in our long-term strategy," said Chief Executive Fran Horowitz. The stock, which had closed at a 19-month low on Wednesday, has tumbled 42% over the past three months, while the SPDR S&P Retail ETF has slipped 5.5% and the S&P 500 has gained 3.0%.
Big box retailer Target (NYSE:TGT) easily represents one of the surprising bulls of the year so far. Since January's opening price, Target stock has gained slightly over 38%. It's a similar story with Walmart (NYSE:WMT), which is up 20% year-to-date.Source: Mike Mozart via Flickr (Modified)However, the trajectory for TGT stock has been anything but linear, and that's also no surprise. Escalating tensions between the U.S. and China -- and the resultant trade war -- have clouded prospects for the broader retail segment. For instance, the benchmark exchange-traded fund SPDR S&P Retail ETF (NYSEARCA:XRT) is up less than 4% YTD.Moreover, last month, TGT absorbed significant volatility before streaking forward to its current lofty place. Naturally, the question on most investors' minds is where will Target stock head next?InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy for the Coming Recession As with most tradable assets in this current environment, it's a tricky answer. Employee Benefits and Planned Raises Bring Questions for Target StockJust recently, TGT management dropped what I considered to be a bombshell: Target employees will receive expanded paid family leave and childcare benefits, as well as better elderly care options. This potentially impacts hundreds of thousands of workers across the U.S.That's because Target's plan is very comprehensive. It includes both hourly and salaried positions, which cover both part-time and full-time employees.Better yet, for those looking to wear those red vests, Target currently offers a baseline salary of $13 per hour. Management intends to drive that up to $15 by the end of 2020.On one hand, the big-box retailer should be commended for taking a leadership role in holistic employee compensation. Even Ivanka Trump, who probably isn't the most popular person right now, champions child-care benefits. But what does that mean for TGT stock?This is where the fluff hits the smelly stuff. While it's great to advocate "feel good" causes, someone has to pay for them. In this case, it's the stakeholders of Target stock.And I'm not sure if they'll really want to go for extending these benefits, despite the obvious PR victory. Here's the reality: over the past few years, net margins have been flat to declining. Only now are they starting to pick that back up. But that data came before the trade war mess.Take aside the trade war for a minute. As a big-box retailer, margins are usually tight. Because Target has moved into low-margin segments like groceries, this metric is even more significant for TGT stock. Significantly enhancing the scope of benefits and salaries isn't what you want to see as an investor. Curious Decision Could Erode Enthusiasm for TGT StockOf course, valid arguments exist for raising employee salaries and other benefits. Among them, stress mitigation is a huge one.Both mentally and physically, most American workers are stressed out. They have demanding jobs in demanding industries. For those with families, the real work begins after they've clocked out of the office. Thus, the theory goes that if you de-stress your workers, you'll increase their productivity, which in turn benefits the business. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 Naturally, the best ways to de-stress your workers is through pay raises or financially meaningful benefits. And that's the narrative TGT management would push if you're considering Target stock. Moreover, the labor market has tightened considerably over the years. Simply put, retailers are fighting for the best talent.I understand these arguments. However, I don't find them compelling for Target stock. Primarily, this is because most Target jobs are transient by default: you are not supposed to make a career out of pushing boxes around.Therefore, I question whether the pros outweigh the cons here for TGT stock. Sure, it's great to provide raises and additional benefits. But even at $15 per hour, that pay is nowhere near enough in most metropolitan areas to survive independently.What I'm saying is that eventually, most Target workers will leave to greener pastures anyways. Therefore, it's better to save the margins for those who own Target stock. Those are the folks you don't want leaving.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for the Coming Recession * 10 Smart Dividend Stocks for the Rest of the Year * 5 Tech Stocks That Are Far Too Risky Right Now Compare Brokers The post Tugging at Heartstrings Wonat Benefit Target Stock appeared first on InvestorPlace.
Target Corp. said Thursday it was raising its quarterly dividend by 3.1%, to 66 cents a share from 64 cents. The new dividend will be payable Sept. 10 to shareholders of record on Aug. 21. Based on Wednesday's stock closing price of $88.26, the new annual dividend rate implies a dividend yield of 2.99%, compared with the dividend yield on rival Walmart Inc.'s stock of 1.95% and the implied yield for the Dow Jones Industrial Average of 2.08%. Target said 2019 would be the 48th consecutive year that the dividend was increased. Target's stock has gained 13.1% over the past 12 months, while Walmart shares have rallied 29.4%, the SPDR S&P Retail ETF has lost 16.0% and the Dow has edged up 3.2%.
Shares of Chico's FAS Inc. slumped 6.2% toward a 10 1/2-year low in premarket trade Tuesday, after the women's apparel retailer reported fiscal first-quarter profit and net sales that topped expectations, but missed on same-store sales and lowered its full-year guidance. Net income for the quarter to May 4 fell to $2.03 million, or 2 cents a share, from $29.0 million, or 23 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to 5 cents, above the FactSet consensus of 3 cents. Net sales fell 7.8% to $517.7 million, just above the FactSet consensus of $517.6 million, while the 7.0% decline in same-store sales missed expectations of a 6.5% decline. Gross margin fell to 36.9% of net sales from 40.4%. For fiscal 2019, the company cut its outlook for net sales and same-store sales to a decline in the "low-to-mid-single-digit" percentage range from a "low-single-digit" decline, and lowered its gross margin as a percent of sales guidance to be down 50 to 100 basis points (0.50 to 1.00 percentage points) from flat to down 50 basis points. The stock, on track to open at the lowest price seen during regular session hours since December 2008, has lost 33% over the past three months, while the SPDR S&P Retail ETF has fallen 8.2% and the S&P 500 has gained 3.7%.
Why Stanley Druckenmiller Is Concerned about US Economy(Continued from Prior Part)Druckenmiller’s favorite predictorsStanley Druckenmiller tracks a lot of indicators to gauge the health of the economy. While speaking at the Economic Club on June
In an economic climate where the retail sector has constantly been dragged through the mud, many investors have opted to steer away from the sector.
Consumer confidence, a primary indicator of U.S. economic health and one widely watched by equity market participants, remains healthy. While consumer confidence looks sturdy, some market observers remain concerned the health of the U.S. consumer could surprise to the downside, putting some brick-and-mortar retailers at risk. The ProShares Decline of the Retail Store ETF (NYSE: EMTY) is an exchange traded fund to consider should consumer confidence become shaken.
Shares of Michaels Companies Inc. dropped 14% toward a record low in premarket trade Thursday, after the arts and crafts retailer reported fiscal first-quarter sales that missed expectations and trimmed its full-year profit outlook. Net income for the quarter to May 4 rose to $32.9 million, or 24 cents a share, from $19.8 million, or 15 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to 31 cents, matching the FactSet consensus. Sales fell to $1.09 billion from $1.16 billion to miss the FactSet consensus of $1.11 billion. Same-store sales fell 2.9%, compared with expectations of a 1.4% decline, as decrease in customer transactions offset an increase in average ticket. For fiscal 2019, the company cut its adjusted EPS guidance to $2.29 to $2.41 from $2.34 to $2.46, but affirmed its outlooks for net sales outlook of $5.19 billion to $5.24 billion and same-store sales of flat to up 1%. The stock has plunged 30% over the past three months through Wednesday, while the SPDR S&P Retail ETF has lost 9.7% and the S&P 500 has gained 2.0%.
Shares of Signet Jewelers Ltd. dropped 6% toward a 10-year low in premarket trade Thursday, after the jewelry retailer reported a surprise profit, but same-store sales that missed expectations and lowered its full-year outlook. The net loss for the quarter to May 4 narrowed to $18.2 million, or 35 cents a share, from a loss of $504.8 million, or $8.48 a share, in the year-ago period. Excluding non-recurring items, such as charges related to its transformation plan, adjusted earnings per share slipped to 8 cents from 10 cents, compared with the FactSet consensus of a per-share loss of 23 cents. Revenue slipped to $1.43 billion to $1.48 billion, just above the FactSet consensus of $1.42 billion, while same-store sales fell 1.3% to miss expectations of a 0.9% decline. For fiscal 2020, Signet lowered its adjusted EPS guidance to $2.88 to $3.17 from $2.87 to $3.45, and revised its same-store sales outlook to down 2.5% to down 1.5% from down 2.5% to flat. The stock, on track to open at the lowest price seen during regular-session hours since June 2009, has tumbled 38.9% year to date through Wednesday, while the S&P 500 has gained 12.7%.
Shares of Kirkland's Inc. were indicated down about 14% toward a 10-year low in premarket trade Thursday, after the home decor retailer reported a fiscal first-quarter loss that widened more than expected, on sales that fell more than forecast. The net loss for the quarter to May 4 grew to $8.9 million, or 62 cents a share, from $882,000, or 6 cents a share, in the year-ago period. Excluding non-recurring items, the adjusted loss per share was 53 cents, missing the FactSet consensus for a per-share loss of 41 cents. Net sales fell 9.0% to $129.6 million, below the FactSet consensus of $132.4 million, as negative store traffic and a decline in average ticket offset improved conversion. Same-store sales fell 10.7%, while the estimates of two analysts surveyed by FactSet ranged from a decline of 6.0% to a drop of 10.0%. The company cut its fiscal 2019 EPS guidance range to flat to 15 cents from 15 cents to 30 cents. Kirkland's said it was taking additional cost-cutting steps to reduce expenses by $10 million this year, and to mitigate the potential impact of higher tariffs on home decor products. The stock has tumbled 55% over the past three months through Wednesday, while the SPDR S&P Retail ETF has lost 9.7% and the S&P 500 has gained 2.0%.
Shares of Tiffany & Co. dropped 4.6% in premarket trade Tuesday, after the luxury jewelry retailer reported fiscal first-quarter earnings that beat expectations and sales that fell a bit shy, and same-store sales that fell well more than expected, offsetting a dividend hike. Net income for the quarter to April 30 fell to $125.2 million, or $1.03 a share, from $142.3 million, or $1.14 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.01. Sales slipped to $1.00 billion from $1.03 billion, just below the FactSet consensus of $1.01 billion, while the 5% drop in same-store sales missed expectations of a 1.9% decline. Within regions, same-store sales in Asia-Pacific fell 5%, missing expectations of a 3.0% decline; in Europe fell 7% versus expectations of a 0.9% decline; in Japan dropped 4% to miss expectations of a 1.5% fall. For fiscal 2019, Tiffany expects overall sales to rise in the low-single-digit percentage range, while the FactSet sales consensus of $4.97 billion implies 4.6% growth. "Our first quarter results reflect significant foreign exchange headwinds and dramatically lower worldwide spending attributed to foreign tourists," said Chief Executive Alessandro Bogliolo. Separately, the company raised its quarterly dividend to 58 cents a share from 55 cents, with the new dividend payable July 10 to shareholders of record on June 20. The stock has lost 4.7% over the past three months, while the SPDR S&P Retail ETF has declined 11.0% and the S&P 500 has slipped 1.7%.
Abercrombie & Fitch shares plummeted after fiscal first-quarter earnings, but analysts think the current decline is a precursor to a successful business transformation.
Investing.com - Canada Goose led the broad slump across retailers Wednesday after the apparel company's earnings added to a slew of disappointing reports in the sector.
Footwear retailer Foot Locker reports earnings, and durable goods order for April will be released Friday morning.
Dick's Sporting Goods Inc. has recalled about 10,000 Ethos Pull-Up Assist equipment used for assistance while doing pull ups, as they pose a laceration hazard. The Ethos Pull-Up Assist, made in China and imported by Impex Inc. of Pomona, Calif., were sold in Dick's Sporting Goods stores and on its website from March 2017 through February 2019 for around $35. The equipment consists of three red resistance bands connected with a nylon bad and a plastic clip and metal carabiner. Dick's and the Consumer Product Safety Commission said the plastic clip can break, posing a risk of laceration. The company said it has received seven reports of equipment breaking, resulting in six lacerations, with one consumer receiving stitches and another required to receive staples. Dick's stock fell 1.1% in afternoon trade. It has gained 17.2% year to date, while the SPDR S&P Retail ETF has edged up 1.2% and the S&P 500 has advanced 14.9%.
Some of the biggest names in retail are warning President Trump of the potential consequences over the trade war with China. Yahoo Finance's Zack Guzman, Sibile Marcellus & Heidi Chung discuss with National Taxpayers Union Senior Fellow Mattie Duppler
Retailer Crocs will cut production in China as the company tries to ease the potential impact of President Trump's tariffs. The goal will be to source about 10% of products from China by 2020. Yahoo Finance's Seana Smith, Dan Roberts, Dan Howley and Jared Blikre discuss.
Tilman Fertitta, Landry's chairman & CEO, offers his take on the trade war. With CNBC's Brian Sullivan and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.