Tiffany Struggles But Its Outlook Isn’t That Grim
Tiffany reported weak results for its fiscal second quarter. The company’s outlook wasn’t as bad as expected, but we aren’t fans of the jeweler.
SKS
Strong Results Across the Retail Spectrum: Michael Kors, TJ Maxx and Saks
Brand names continue to drive results in the retail sector.
July Retail Same-Store Sales Trends Look Positive
With the exception of Abercrombie, July same-store sales were pretty good.
June Same Store Sales Actually Weren’t Bad
Though a few companies fell short of expectations, we thought June same-store sales numbers were mostly positive. We think lower energy prices may have reinvigorated the US consumer during the month.
DSW’s Second Quarter Might Not Be Great But Full-Year Outlook Remains
Following recent trends from companies such as the Men’s Wearhouse, DSW’s second-quarter outlook points to more clearance and off-priced sales than originally thought.
Michael Kors Underscores Strength in High-End Retail
The shift to luxury continues as Michael Kors reports a fantastic quarter and raises forward guidance.
How Would a Double Dip Impact Retailers?
Though we don’t think a double-dip recession in the US is around the corner, we outline our views on how the general economy and employment trends impact same-store-sales performance across the consumer spectrum.
Luxury Continues Positive Momentum as Nordstrom and Saks Post Strong Results
In the midst of luxury earnings season, we were not at all surprised to see Nordstrom (JWN) and Saks (SKS) post excellent results. Nordstrom ended the quarter with revenues up 12.4% and consolidated same store sales up 7.3%. Breaking its downward trend, Nordstrom Rack posted a 4.8% comp, which we think is impressive given the current success of the full-price Nordstrom store. During 2009 and early 2010, Nordstrom Rack posted terrific growth as it served as the means to deleveraging the massive inventory build that took place in 2007 and 2008. However, the discounter struggled in the first half, likely due to less fashionable items hitting their shelves. In spite of an excellent quarter, we think shares of Nordstrom are … Read more
Big 5 Sporting Goods Looks Extremely Undervalued, But Proceed With Caution
This article appeared on Seeking Alpha. Please view disclosures: https://seekingalpha.com/article/277117-big-5-sporting-goods-looks-extremely-undervalued-but-proceed-with-caution If you read nothing else, consider these 3 points: Big 5 is disproportionately affected by unemployment in its key home states The company continues to grow slowly and conservatively Big 5 finds homes in niche markets that Dick’s (DKS) and The Sports Authority aren’t interested in What Big 5 does Big 5 is a small sporting goods retailer with 396 stores in 12 western states. The vast majority of its shops are concentrated in California and Nevada. They sell shoes, apparel, athletic gear, and accessories. For shoppers in bigger cities, one might find The Sports Authority or Dick’s Sporting Goods, as Big 5’s stores operate on a much smaller scale. The … Read more