Retail Giants Prep for Earnings; Walmart & Ross Top, Target Trails

Published on: 16 November 2023 Last Updated on: 11 September 2024
Retail Giants Gear Up For Earnings Walmart & Ross Leads Target Lags Behind

This week, several key players in the retail sector are slated to reveal their quarterly earnings. The spotlight is on companies navigating these turbulent waters in a year marked by economic challenges and fluctuating consumer confidence. Those prioritizing discount goods over discretionary items have emerged as industry leaders.

Predicting Earnings Surprises  

Investors eyeing these retail giants have a powerful tool at their disposal—Zacks Earnings ESP (Expected Surprise Prediction). This tool aims to identify companies experiencing positive earnings estimate revisions, leveraging the belief that recent information holds predictive power during earnings season.

Historically, combining a Zacks Rank #3 or better with a positive Earnings ESP has yielded positive surprises 70% of the time, boasting a 28.3% average annual return over a 10-year period.

Earnings Anticipation In Retail  

In the challenging landscape of retail, this year has been a litmus test for what resonates with consumers. Despite varied stock performances, all eyes are on a group of retailers forecasted to beat earnings estimates, indicating a bullish sentiment among analysts.

Walmart  

Walmart, a standout performer this year with a 20.3% year-to-date rally, holds a Zacks Rank #2 (Buy). The retail giant’s strategic focus on discount offerings and a robust e-commerce expansion have contributed to its success. Walmart’s Q3 earnings report, set for November 16, is anticipated to exceed estimates, with a Zacks ESP forecasting a 0.8% beat.

The TJX Companies  

Benefiting from its discount pricing strategy, TJX Companies has seen an 18% YTD gain. Operating across 4,900 stores in nine countries, this off-price retailer is set to report earnings on November 15. The Zacks ESP projects a 2.6% earnings beat, reflecting a mixed earnings outlook.

Ross Stores  

With a Zacks Rank #2 (Buy), Ross Stores has capitalized on the discount retail trend, gaining 10% YTD. Expected to report on November 16, the Zacks ESP suggests a 2.08% earnings beat. Ross Stores offers in-season, branded, and designer merchandise at prices 20% to 60% below regular department store rates.

Target  

Facing headwinds this year, Target’s stock has dipped by -23.7% YTD. Target reported on November 15 that it had experienced a significant drop in comparable sales as consumers cut back on discretionary spending. Despite a Zacks Rank #4 (Sell), indicating falling earnings estimates, there’s a glimmer of hope with a Zacks Earnings ESP projecting a 1.97% earnings beat.

While Walmart continues to lead the pack, Target’s dip in valuation raises questions about its future trajectory. Investors are advised to stay vigilant and monitor shifts in earnings estimates for potential investment opportunities in this dynamic retail landscape.

Learn More About:

Ankita Tripathy loves to write about food and the Hallyu Wave in particular. During her free time, she enjoys looking at the sky or reading books while sipping a cup of hot coffee. Her favourite niches are food, music, lifestyle, travel, and Korean Pop music and drama.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

NFL's Roger Goodell Praises Las Vegas Transformation

NFL’s Roger Goodell Praises Las Vegas Transformation 

NFL commissioner Roger Goodell, spoke at a Las Vegas Super Bowl LVIII Host Committee brunch in Tuesday and he praised the city's shift in image in the last few years which has led them to land the league's championship game. Goodell also touched on other topics like the game's global appeal in a 25-minute sit down with Las Vegas Raiders president Sandra Douglass Morgan that also included appearances by other sports executives from premier leagues such as the UFC, the NHL's Golden Knights, the WNBA's Aces, Formula 1 and the NBA. Goodell addressed the crowd and said, "You really have become Sports Town USA. You really have, and that vision was set out, that vision was clear. We wanted to be a part of it, and I think when that happened, everything seemed to change and the stadium obviously is a key component of that. It's one of the reasons we struggled in Oakland is being able to get a long-term stadium that would work for us. Great news is this is home for us, so we're glad to be here." https://twitter.com/stevemcomedy/status/1732161471310901540?s=20 He added, "I'm going to credit this community because I think you've changed the city on a global basis. It is an extraordinary entertainment city and I think people see this city in a different way. Sports may be part of that, but we're all part of, I think every one of the sports that are represented here today would say that you've changed that, you've changed that narrative, you've changed that image, you've changed that platform. And I think, I probably would not have said 10 years ago, that I would see myself sitting here for a Super Bowl. But I'm not surprised." When Douglass Morgan asked whether Las Vegas would be in a "rotation" for the Suoer Bowl, Goodell laughed."We don't have a rotation of Super Bowls," he said, "but I have no doubt this is going to be a successful Super Bowl. We'll be back here a lot for Super Bowls." Read More About: Which Nations Have the Greatest Disconnect Between Their People Sam Altman, The CEO Of OpenAI Joins Microsoft Adding Further To The Controversy

READ MOREDetails
Apple Settles Lawsuit for $25 Million Over Family Sharing

Apple Settles Lawsuit for $25 Million Over Family Sharing Feature Misrepresentation

In a recent development, tech giant Apple has agreed to pay a substantial $25 million to settle a 2019 class-action lawsuit, accusing the company of misrepresenting its Family Sharing feature. Despite Apple denying any wrongdoing, the settlement addresses allegations that the company falsely portrayed the capability to share app subscriptions within family groups. Apple’s settlement case is making headlines following Facebook. The lawsuit contended that a significant portion of subscription-based apps, a growing segment on the Apple platform, couldn't be shared among designated family members, contrary to the representation made by Apple. Court documents revealed that these apps were exclusively available to individual users who downloaded and subscribed to them. The court documents emphasized, "The vast majority of subscription-based apps, which is a growing percentage of Apple Apps, cannot be shared with designated family members." This revelation challenges Apple's previous assertion and sheds light on a potentially misleading practice. Furthermore, the documents highlighted that despite the awareness that subscription-based apps did not support Family Sharing, Apple continued advertising these apps' features. This advertising strategy may have led millions of consumers to download subscription-based apps, assuming they were shareable within family groups, only to discover otherwise after making payments. While settling the lawsuit, Apple maintains its denial of misrepresentation or wrongdoing. The $25 million settlement resolves the class-action suit, concluding the legal dispute over the Family Sharing feature. This development raises questions about the transparency of subscription-based apps on Apple's platform and the need for clearer communication between the tech giant and its users. As the landscape of app usage evolves, consumers may become more vigilant about the representations made by tech companies, ensuring that advertised features align with actual functionalities. This settlement serves as a reminder for consumers and tech companies to maintain transparency and accuracy in representing features and functionalities, fostering trust in the dynamic world of digital platforms. Read Also: Time Magazine Names Taylor Swift The 2023 Person Of The Year This Is Why Taylor Swift Sends Kelly Clarkson Flowers After Every Re-Recording Selena Gomez Gets A Kiss From Bestie Taylor Swift In Latest Birthday Instagram Post

READ MOREDetails
Quaint Community in Lewes Delaware

The Quaint Community In Lewes, Delaware

You can find great things from the second smallest city in the U.S. Delaware has one of the most beautiful sceneries, from river towns and beachside havens to historic hamlets. Generally, the state has plenty to offer when it comes to bursting with charm. Specifically, Lewes has gained popularity among retirees and job seekers for its fashion-forward boutiques, sophisticated fine dining, and affordable homes. Lewes: What do you need to know about the city? Lewes is a charming coastal community in Sussex County with a population of around 3,000. Lewes was the first settlement for the Dutch settlers in the 17th century and is commonly referred to as The First Town In the First State. The town is nestled between the Great Marsh Preserve wetlands and the beautiful Cape Henlopen State Park beaches. The town’s strategic location centers around the Rehoboth and the Lewes Canal, characterized by ancient picturesque buildings. With some ancient buildings transformed into museums, the structures elicit memories of the Dutch settlement and provide a glimpse of the town’s progress so far. For instance, the Ryves Holt House, located at the heart of the town, is thought to be the oldest structure in the whole of Delaware. Other structures, such as the Cannonball House, show the remains of the 1812 British bombardment during the War. The Economic Landscape Lewes's economic landscape is very important for future homebuyers to know. The city has been facing significant population growth over the last few years. Population: The growth rate has been around 6.6% from the time of 2010 to 2020. This projection suggests that the growth of the economy is upward and is going up to 4.9% by the year 2020. This growth is quite important for making the place an important and profitable place for real estate investments. It’s the factor that drives housing demand in the location (Lewes). Real Estate Market: The current home price in this region is around  $569,990, and the average price of homes is $251 per square foot. This pricing is something that reflects competition in the real estate market, appealing to investors and prospective homeowners. It’s safe to say that the real estate market in Lewes, Delaware, is quite competitive and attractive for both homeowners and estate sellers. Job Market: Lewes also has a robust job market that supports different industries and attracts talents from all over the country. The place employs more than 35000 people working in different job roles across industries. However, it’s important to note that there’s a huge discrepancy in the earnings and how the job market is shaping the community. There’s a potential economic disparity that can potentially affect the local residents. Demographic & Community Composition Lewes's demographic profile reveals a strong and educationally more capable community than other areas surrounding it. It has 52% residents who hold a college degree. Thanks to educational attainment, a huge range of workforce supports local businesses and industries. However, as previously suggested, economic disparities exist among people working at different professional levels. Some of them earn a high income, while others live below the poverty line. The younger individuals are comparatively the lesser earning people in this place. Lewes Delaware Local Businesses There are many local businesses in Delaware. The local business scene includes lots of shops and restaurants thanks to Delaware being one of the tourist attractions. The historic district of the town also reflects rich cultural significance, attracting tourists from different places. However, despite its cultural riches, Delaware small businesses and boutiques have to face larger retail stores and bigger businesses. There’s seasonal fluctuation in different businesses, decreasing and boosting profitability from time to time. It’s important to consider different digital marketing tactics to improve business profitability. Targeting advertising, increasing visibility through Google My Business, and local SEO can help businesses a lot. How has Lewes grown in recent years to become a major city? In the 1960s, Lewes was just a home of fish processing plants but has now been dominated by opulent beach houses, boutiques, and bistros. Besides, Lewes weather is friendly for people of all ages, with the winters being typically mild and perfect summers for a walk on one of the beaches, such as the Cape Henlopen. Lewes is truly a town for everyone where you can explore the charming restaurants and local shops. You’ll appreciate the annual events held at the town involving locals and visitors enjoying and participating in Coast Day, the Christmas parade, the popular Antique Show, the Doo-dah parade and the First Thursdays Summer Concerts-just to name but a few. Can I Find Homes For Sale In Lewes, Delaware? Delaware’s booming real estate market has extended to Lewes, where beautiful homes are established facing the serene beaches. Most of the communities in Lewes occupy homes facing the Rehoboth beach for tranquility and fun. There are plenty of affordable homes for sale in Lewes, Delaware, for you and your family, with the median home value ranging from $388,000. This year, there has been an increase in home selling due to the rise in demand. The increased job opportunities in the numerous offices, restaurants, and shops set up in the town contributed to the demand. The serene environment provides sufficient space for every home, leaving you with ample space to walk around. The Bottom Line: Moving to Lewes would be a dream come true for you whether you are avoiding noisy streets, coming to retire, or having a taste for beautiful scenery and beaches. Lewes provides the best environment for you to settle with your family and live the life you always admired. Take time to choose the best home for you with the help of professional realtors you find around. Choosing the best home in any place requires one to check different parameters like population, real estate market condition and gathering information about the location. If you are considering a home in Lewes, the information added in this article should help you. Thank you for reading. Read Also: Make the Most of a Business Trip to Chicago So Much to See and Do during a Visit to Chicago Construction Plans in Australia Cost of living in Seattle  

READ MOREDetails