Academy Sports, Chewy, Winnebago: Morning Movers
Shares of Academy Sports (ASO) are down Thursday morning as the company posted its fourth quarter report, revealing a decline in comparable sales by 3.6%.
Shares of Chewy (CHWY) are also down on Thursday as the company reported near-term sales guidance well below Wall Street expectations. Amid a wider pet industry slowdown, the company did beat on fourth quarter results.
Winnebago Industries (WGO) shares moved up on Thursday morning as the company posted its second quarter report.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Video Transcript
BRAD SMITH: Let's take a look at how things are shaping up here on the day. Stocks moving higher after Reddit is set to make its big market debut. And on the back of Fed Chair Powell's dovish stance, the FOMC maintaining its forecast for three rate cuts in 2024. Take a look at the S&P 500 futures, higher by about half a percent.
SEANA SMITH: Let's also take a look at some of those trending tickers. First, up we've got shares of sporting goods retailer Academy Sports and Outdoors. Well, it's sinking after reporting further deceleration in same-store sales growth, down 3.6% in the fourth quarter.
The retailer's full-year outlook also falling short of analysts' expectations. The consumer pulling back on discretionary spending. And you're seeing this retailer, one of the retailers that are under pressure as a result and shares off just about 8%.
BRAD SMITH: From sports to pets. We're also watching shares of Chewy this morning. The pet supply retailer feeling some pressure after its near-term sales guidance came in well below Wall Street's expectations. Below those expectations and despite a wider pet industry slowdown, the company did beat on fourth quarter results and full-year outlook projections.
SEANA SMITH: And shares of Winnebago Industries moving to the upside, up nearly 6%. The recreational vehicle manufacturer in line with the Street's expectations this quarter. Now, wholesale shipments were slightly constrained as dealers continue to closely manage inventory levels and also navigate some ongoing softness in the RV market. But you've got to move to the upside and we also got a fist pump from Brad Smith.
BRAD SMITH: I rallied big time for this one to make it into the show.
SEANA SMITH: All good.
BRAD SMITH: There's a lot of Winnebago fans out there. Big RV energy here at the top of the 10.
