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News Breaks
June 26, 2014
11:20 EDTPIR, KIRK, WSM, RH, BBBYBed Bath & Beyond sinks after results, outlook miss estimates
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) hit a fresh 52-week low after the company's first quarter results and second quarter profit outlook missed analysts' consensus estimates. WHAT'S NEW: Last night, Bed Bath & Beyond reported Q1 EPS of 93c and revenue of $2.66B, trailing analysts' consensus estimates of 94c and $2.69B, respectively. Q1 comparable sales grew 0.4% versus 3.4% last year. WHAT'S NOTABLE: The company modeled Q2 EPS of $1.08-$1.16, versus consensus of $1.20, while Q2 revenue was seen growing 2%-4%, compared to consensus of $2.92B. Q2 same store sales are seen growing 1%-3%. For fiscal 2014, EPS is seen increasing by a mid-single digit percentage and revenue is expected to grow 4%. FY14 SSS is expected to grow 3%. On the company's earnings conference call, management said it was "cautiously optimistic about the balance of the fiscal year." ANALYST REACTION: This morning, JP Morgan lowered its price target on the shares to $65 from $75 after the company's Q1 comparable sales and gross margin missed expectations. The firm kept a Neutral rating on the stock. Morgan Stanley said Bed Bath & Beyond remains unattractive given margin pressures and slippage as it executes its omni-channel strategy. The firm lowered its price target to $58 from $63 and reiterated its Underweight rating. PRICE ACTION: In late morning trading, Bed Bath & Beyond fell $5.61, or 9.2%, to $55.50 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $54.95. Including today's pull back, the stock is down approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR), Restoration Hardware (RH), and Kirkland's (KIRK).
News For BBBY;WSM;PIR;RH;KIRK From The Last 14 Days
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August 27, 2015
09:26 EDTWSMWilliams-Sonoma shares should be bought on post-earnings dip, says JPMorgan
JPMorgan analyst Christopher Horvers said he sees "numerous credible reasons" giving him confidence that Williams-Sonoma can still drive topline growth and margin improvements and recommends investors "buy the dip" he expects in shares following the company's Q2 report. Horvers trimmed his price target on Williams-Sonoma to $97 from $103 but maintains an Overweight rating on the stock.
08:53 EDTWSMWilliams-Sonoma downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Williams-Sonoma to Neutral with a new $88 price target. The firm downgraded shares based on year-to-date outperformance and said ongoing investments will limit earnings flow through.
08:00 EDTWSMWilliams-Sonoma weakness creates buying opportunity, says SunTrust
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07:51 EDTWSMWilliams-Sonoma weakness creates buying opportunity, says Oppenheimer
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August 26, 2015
20:03 EDTWSMOn The Fly: After Hours Movers
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17:51 EDTWSMWilliams-Sonoma says has 'strong lineup' for 2H15
Says plans to launch three times the amount of new products in Q3 compared to the prior year period. Says expects to open four new locations in Q3. Says has made "good progress" across all brands in 1H15 and expects market share gains in 2H15. Comments from company's Q2 earnings conference call.
16:14 EDTWSMWilliams-Sonoma falls after earnings
The shares were last at $80 in the extended session following earnings, down over 3.5%. At that price next support is at $77.75. Resistance is at $81.
16:14 EDTWSMWilliams-Sonoma sees FY15 EPS $3.35-$3.45, consensus $3.48
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16:13 EDTWSMWilliams-Sonoma sees Q3 EPS 68c-73c, consensus 75c
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16:11 EDTWSMWilliams-Sonoma reports Q2 EPS 58c, consensus 58c
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15:00 EDTWSMNotable companies reporting after market close
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August 21, 2015
08:42 EDTWSMWilliams-Sonoma August weekly volatility elevated into Q2 and outlook
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07:58 EDTKIRKKirkland's weakness overdone, says SunTrust
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August 20, 2015
11:18 EDTKIRKKirkland's says expects to generate positive cash flow in FY15
Sees FY CapEx $29M-$31M.
11:10 EDTKIRKKirkland's says data processing issue 'not a data breach in any way'
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06:37 EDTKIRKKirkland's sees Q3 EPS 2c-5c, consensus 11c
SeesQ3 revenue $130M-$132M, consensus $131.23M. Sees Q3 SSS up 3%-4%.
06:34 EDTKIRKKirkland's sees FY15 adjusted EPS $1.16-$1.23, consensus $1.26
Sees FY15 revenue up 11%-12%. Sees FY15 SSS up 3%-5%.
06:32 EDTKIRKKirkland's reports Q2 SSS up 6.7%
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06:32 EDTKIRKKirkland's reports Q2 EPS (13c), consensus (11c)
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August 13, 2015
18:10 EDTRHRestoration Hardware launches RH Teen
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