Loading...
Lowe's ($LOW) shares slid after reporting a 7.3% YoY decline in EPS, an 11% YoY drop in revenue, and a lower full-year revenue forecast. The company attributed these results to a greater-than-expected pullback in DIY discretionary spending and a shift away from big home-renovation projects. Best Buy ($BBY) experienced a drop in same-store sales and lowered its annual revenue outlook due to uneven consumer demand and weakened big ticket spending, causing its shares to fall. Kohl's sales missed estimates, marking a seventh-straight drop in comparable sales, reflecting a broader shift away from consumer spending on discretionary goods. Abercrombie & Fitch bucked the trend with a 20% surge in quarterly sales, leading to an increased outlook.
Kohl's sales miss estimates as shoppers trim spending on non-essentials https://t.co/nPxTfscmfB https://t.co/HyGjQ1OGl4
Best Buy flags 'more uneven' consumer demand as Black Friday looms https://t.co/7Ei1XsdYCp https://t.co/GiNkI0OWhU
Abercrombie boosted its forecast on the back of stronger-than-expected third-quarter sales as the brand’s comeback continues to resonate with teens and young millennials https://t.co/aLJDhsS1c1
$BBY: November comp sales down 7%, comp sales were down 6.9% during quarter Expects 6-7.5% comp sales decline for the year, worse than precious guidance of down 4.5-6%
$BBY (-4.5% pre) Best Buy flags 'more uneven' consumer demand as Black Friday looms - Reuters https://t.co/QtybwIgsTB
$ANF (-4.9% pre) Abercrombie & Fitch earnings top estimates and retailer raises guidance, but stock still falls - MW https://t.co/U9RrobuWE7
*BEST BUY CEO: CONSUMER DEMAND WEAKENED THROUGH 3Q
$BBY misses on outlook While 3Q EPS beat $1.29 vs $1.19 exp, sales missed at 9.76bn vs 9.9bn exp Sales have fallen for 8 quarters in a row CEO says consumer behavior more difficult to predict given focus on deals and lower savings rates https://t.co/9uPzNbIIEc
Abercrombie & Fitch Had a Stellar Quarter. Here’s Why the Stock Is Lower. https://t.co/zQ3jqY0hWL
Abercrombie & Fitch raises outlook after quarterly sales surge 20% https://t.co/kebfh2DXUY
CEO on Best Buy conference call (going on now): "We saw sales trends soften as we moved through the quarter." Cited "sustained inflationary expectations," higher interest rates, falling excess savings for continuing wkness. Possible return to growth "in the back half of next yr."
Lowe's Shares Drop On Do-It-Yourself Weakness https://t.co/GhCw11Yqva
Best Buy stock drops as it posts broad sales decline for Q3 https://t.co/VwdhF5rhGi by @BrookeDiPalma
Best Buy’s same-store sales fell by more than expected in the third quarter after what the retailer called “uneven consumer demand” https://t.co/c8xzDQ2WQ8
$BBY Best Buy beats on eps, miss on rev and lowers guidance. US Comps -7.3%; expects Q4 comps -3 to -7% Stock -5.2% pre market https://t.co/9HqWYEJUne
Best Buy cuts sales forecast, as holiday shoppers hunt for deals https://t.co/aa3d5r0dmz
Kohl’s Earnings Look Good, But Sales Are A Different Story. The Stock Is Falling. https://t.co/WfsUnQiH6l
$BBY Best Buy: “In the more recent macro environment, consumer demand has been even more uneven and difficult to predict. Based on the sales trends in Q3 and so far in November, we believe it is prudent to lower our annual revenue outlook." -3.5%
Best Buy’s same-store sales fell by more than expected in the third quarter after what the retailer called “uneven consumer demand” https://t.co/86mQIH4XTZ
Kohl’s reports a seventh-straight drop in comparable sales, pointing to an ongoing decline in foot traffic and a broader shift away from consumer spending on discretionary goods https://t.co/q6QzFjWzdv
Lowe’s reduced its full-year revenue forecast again, underscoring the shift away from big home-renovation projects after the pandemic boom https://t.co/ixyib2SCVA
Lowe's cuts sales outlook as homeowners take on fewer projects; shares slide https://t.co/B2hg4v3bQt
Lowe's tumbles as retailer echoes Home Depot warning on big ticket spending https://t.co/reuTxUFdoV
$LOW Lowes beats on eps, misses on rev. Comps -7.4% given 'greater-than-expected pullback in DIY discretionary spending.' "Given our 75% DIY mix, the DIY pressure disproportionately impacted our third quarter comp performance." Also lowers FY guidance on DIY disappointment. -6% https://t.co/KkmEgzdpXk
Lowe’s reduced its full-year revenue forecast again, underscoring the shift away from big home-renovation projects after the pandemic boom https://t.co/OjJrfWnFK2
Lowe’s reduced its full-year revenue forecast again, underscoring the shift away from big home-renovation projects after the pandemic boom https://t.co/riMFvHL5mq
$LOW Lowes: "In the third quarter, the company delivered strong operating performance and improved customer service despite a greater-than-expected pullback in DIY discretionary spending, particularly in bigger ticket categories. "
Lowe's $LOW reports earnings tomorrow before the markets open, Wall ST is expecting numbers of EPS of $3.03 down 7.3% YoY Revenue of $20.9B down 11% YoY