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Stock Market & Financial Investment News

News Breaks
March 23, 2012
10:15 EDTDG, TGT, KR, CVS, WMT, SWY, FDO, COST, WAG, SVUCitigroup's food and staples retailing research team holds a conference call
Food & Staples Retailing Research Team, along with Richard Volpe, Research Economist, USDA-Economic Research Service, provide outlook for U.S. Retail Food Prices and Inflation on an Analyst/Industry conference call. Relevant covered companies COST, CVS, DG, FDO, KR, SVU, SWY, TGT, WAG and WMT may be discussed on the Analyst/Industry conference call to be held on March 23 at 11 am.
News For COST;CVS;DG;FDO;KR;SVU;SWY;TGT;WAG;WMT From The Last 14 Days
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April 11, 2014
10:49 EDTFDOOptions with decreasing implied volatility: STZ EPB FDO YONG
09:08 EDTWAGWalgreens has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Greg Wasson on April 17 at 2 pm.
07:49 EDTCOSTCostco earnings can accelerate 'dramatically,' says Janney Capital
Janney Capital says Costco's price investments continue to drive share and build loyalty and have helped its traffic remain robust. The firm expects strong traffic to continue and for gas and forex headwinds to subside, which could lead to Costco's earnings accelerating "dramatically" in 2014. Janney keeps a Buy rating on Costco shares.
07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
16:09 EDTSWYSafeway announces receipt of second request from FTC
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13:14 EDTWMT, DG, FDOFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
11:28 EDTWAGWalgreens management to meet with BB&T
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11:23 EDTCVS, WAGRite Aid hits 52-week high after results, sales view top estimates
Shares of retail drugstore Rite Aid (RAD) are rallying after the company's fourth quarter results and fiscal 2015 revenue outlook topped analysts' consensus estimates. WHAT'S NEW: This morning, Rite Aid reported fourth quarter adjusted earnings per share of 10c and revenue of $6.6B, compared to expectations of 4c and $6.54B, respectively. Q4 same store sales increased 2.1%. Rite Aid forecast FY15 EPS of 31c-42c, compared to the consensus of 35c. FY15 revenue was seen at $26B-$26.5B, ahead of the consensus $25.75B. FY15 same-store sales are expected by the company to be up 2.5%-4.5%. WHAT'S NOTABLE: Rite Aid also announced it has acquired RediClinic, which currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Rite Aid CEO John Standley said, “Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail healthcare company.” PRICE ACTION: In late morning trading, Rite Aid rose 71c, or about 11%, to $7.11 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $7.39. Including today's advance, the stock is up approximately 300% over the past twelve months. OTHERS TO WATCH: Other retail drugstore operators include Walgreen Company (WAG) and CVS Caremark (CVS).
11:15 EDTFDOOptions with decreasing implied volatility: YONG STZ BBBY FDO EPB
10:46 EDTFDOFamily Dollar says continues to be opportunistic with share repurchases
10:27 EDTFDOFamily Dollar says search for president, COO is 'under way'
Says last few quarters have been "challenging." Says holiday season was challenged by a more promotional environment and a more financially constrained consumer. Sees opportunities to improve execution, increase relevance. Plans to slow square footage growth in the beginning of FY15. The company says it is on track to open approximately 525 stores this year, 350-400 stores next year. Says 18 storms resulted in 60 days negatively impacted by winter weather in Q2. Sees gross margin for Q3 to be similar to Q2. Sees charge in Q3 of about $4M related to employee severance costs. Sees SG&A expense to be develeraged in Q3. Sees gross margin to decline in FY14. Expects SG&A will deleverage for FY14. Expects tax rate for FY14 to be 36%-36.5%.
10:21 EDTFDOFamily Dollar says recently cut about 10% of corporate workforce
Sees charge in Q3 of about $4M related to employee severance costs. Comments made on the Q2 earnings conference call.
09:48 EDTCOSTCostco sees 1.5%-2% effect on April comps from 1 less shopping day
This April to include 27 selling days, compared to 28 days in same period last year. Costco says average transaction flat year-over-year in March, including forex impact. Comments from March sales results call.
07:11 EDTFDOFamily Dollar says winter weather had at least 5c negative impact to Q2 EPS
Family Dollar Stores CEO Howard Levine said, “Our second quarter results did not meet our expectations. The 2013 holiday season was challenged by a more promotional competitive environment and a more financially constrained consumer. In addition, like many retailers, our second quarter results were significantly impacted by severe winter weather, which resulted in numerous store closings, disrupted merchandise deliveries and higher than expected utility and store maintenance expenses. Notwithstanding the macro-economic pressure, competitive environment and severe weather, we are not satisfied with our results, and we hold ourselves accountable for improving our performance. To that end, we have initiated an in-depth business review to identify opportunities to strengthen our value proposition, increase operational efficiencies and improve financial performance.” The company estimates that the negative financial impact in Q2 from the adverse winter weather was at least 5c of earnings per diluted share.
07:09 EDTFDOFamily Dollar sees FY14 EPS ex-items $3.05-$3.25, consensus $3.38
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07:07 EDTFDOFamily Dollar sees Q3 EPS ex-items 85c-95c, consensus 98c
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07:05 EDTFDOFamily Dollar to close about 370 stores, take other actions to reduce costs
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07:03 EDTFDOFamily Dollar reports Q2 EPS 80c, consensus 90c
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06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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05:47 EDTCOSTCostco reports March total company SSS up 5%
Reports March revenue up 8% to $10.43B vs. $9.67B last year. Reports March total company SSS, excluding negative impacts from gasoline price deflation and foreign exchange, up 7%.
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