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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:50 EDTGPS, M, LULU, VFClululemon plummets to 52-week low after outlook cut, CFO retires
Shares of athletic apparel retailer lululemon (LULU) are sinking after the company's second quarter view missed analysts' consensus estimates and it lowered its fiscal 2014 outlook. The company's CFO, John Currie, also announced his retirement. WHAT'S NEW: This morning, lululemon reported Q1 adjusted earnings per share of 34c and revenue of $384.6M, topping estimates of 32c and $381.24M, respectively. Q1 SSS on a combined basis increased 1% on a constant dollar basis. Comparable corporate-store sales for Q1 decreased by 4% on a constant dollar basis and direct to consumer revenue increased 25% on a constant dollar basis. For Q2, the company forecast EPS of 28c-30c and revenue of $375M-$380M, falling short of consensus of 36c and $387.19M, respectively. The company lowered its FY14 normalized EPS view to $1.71-$1.76 from $1.80-$1.90, compared to consensus of $1.89. It also narrowed its FY14 revenue guidance to $1.77B-$1.8B from $1.77B-$1.82B, versus consensus of $1.8B. The company's CFO, John Currie, also announced his intention to retire by the end of the fiscal year. WHAT'S NOTABLE: On its earnings conference call, the company said Q2 sales have started off behind plan and that comps have been "more impacted than originally anticipated." ANALYST REACTION: Following the company's quarterly report, the stock was downgraded to Market Perform from Outperform at William Blair and was downgraded to Hold from Buy at Stifel. OTHERS TO WATCH: lululemon has been facing increased competition from rival yoga-wear retailers and department stores such as Gap's (GPS) Athleta brand, VF Corp's (VFC) lucy, Macy's (M), and others who are selling athletic-wear at lower prices and across more locations, according to a Reuters report. PRICE ACTION: In late morning trading, lululemon fell about 15% to $37.87 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $37.00. Including today's pull back, the stock is down approximately 41% over the past 12 months.
News For LULU;GPS;VFC;M From The Last 14 Days
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November 12, 2014
12:38 EDTMOn The Fly: Midday Wrap
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10:57 EDTMMacy's says "not counting on a lot of help from the economy" for holiday season
10:48 EDTMMacy's sees Q4 EPS $2.30-$2.40, consensus $2.54
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09:21 EDTMOn The Fly: Pre-market Movers
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08:09 EDTMMacy's sees Q4 SSS with licensed businesses up 2%-3%
Macy's said Q4 comparable sales together with comparable sales of departments licensed to third parties are expected to grow by approximately 2%-3%, or 1.8%-2.8% on a comparable sales basis exclusive of licensed businesses.
08:07 EDTMMacy's, Citi Retail Services renew card agreement
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08:05 EDTMMacy's CEO says optimistic for Q4
Macy's chairman and CEO Terry Lundgren said, "Going forward, we remain optimistic for the fourth quarter based on several factors. First, we have developed an outstanding merchandise assortment for holiday gift-giving and self-purchase rooted in great style, exclusive offerings and outstanding value during this key shopping period. Second, we have enhanced our transition to fresh post-holiday vacation and resort assortments. Third, we have new store, omnichannel and marketing strategies in place that we believe will drive incremental business throughout the fourth quarter. This includes Buy Online Pickup in Store now rolled out to all full-line Macy’s and Bloomingdale’s locations, Same Day Delivery pilots up and running in eight major Macy’s markets and four Bloomingdale’s markets, and improved functionality and usability in upgraded mobile apps. And fourth, we are poised to capitalize on a return to more normalized weather patterns after the unusually severe snowstorms in the fourth quarter last year."
08:04 EDTMMacy's says Q3 sales performance fell short of expectations
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08:03 EDTMMacy's lowers FY14 EPS view to $4.25-$4.35 from $4.40-$4.50
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08:01 EDTMMacy's reports Q3 EPS 61c, consensus 50c
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November 11, 2014
15:25 EDTMNotable companies reporting before tomorrow's open
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15:06 EDTMMacy's technical comments before earnings
The shares have been largely trading in a range of $55 at the low and $62 at the high in the year-to-date period. Ahead of results the shares are trading nearly in the middle of that range. Whether the news maintains the range or breaks it is the key. A move below $55 would be longer-term bearish, with the year-to-date price action becoming a clear topping pattern when viewed on a 5-year chart basis. Additional support levels below would be at $52.54 and $50.05. A move above $62 would be equally bullish, with the life high at $63.10 as next resistance. It would take a move above that life high to keep the shares on a bullish path. It is possible that the news won't be sufficiently strong to break the shares out, in which case the existing sideways trend channel would remain intact.
14:52 EDTMMacy's November 57.5 straddle priced for 5.8% move into Q3
12:09 EDTMEarnings Preview: Analyst says Macy's trends decelerated at back-end of Q3
Macy's (M) is scheduled to report third quarter earnings before the market open on Wednesday, November 12, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 50c on revenue of $6.34B, according to First Call. The consensus range for EPS is 46c-55c on revenue of $6.24B-$6.46B. LAST QUARTER: Macy's reported second quarter EPS of 80c on revenue of $6.23B, below estimates for 86c and $6.3B, respectively. Same-store sales, together with comparable sales of departments licensed to third parties, were up 4% from the prior year. Q2 comparable sales were up 3.4% vs. 2Q13. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS at that time was $4.47. The retailer said its expectations for the second half of 2014 were "on track," with guidance for comparable store growth of 2%-3%. However, Macy's predicted FY14 SSS up 1.5%-2%, with FY14 comparable sales together with comparable sales of departments licensed to third parties up 2%-2.5%; previous guidance was for FY SSS up 2.5%-3%. NEWS: On its last earnings conference call, Macy's forecast fall season EPS of $3.04-$3.14 and said it expected Q3 SSS would be lower than fourth quarter SSS. The retailer also forecast second half total sales growth approximately 30 basis points lower than comp growth and gross margin rate "flat to down slightly" for the year. During the quarter, Macy's reached a resolution with the New York State Office of the Attorney General related to allegations of racial profiling in its New York stores. The retailer said it will launch same-day delivery this fall and announced plans to hire 86,000 seasonal associates for the 2014 holiday season. CNN said Macy's will open at 6pm on Thanksgiving Day. STREET RESEARCH: Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic. ITG Research said in October that Macy's Q3 revenues were tracking to $6.25B. Northcoast upgraded Macy's to Buy from Neutral on November 5. PRICE ACTION: Over the last three months, Macy's shares are down 2%. The stock is trading down fractionally to $58.92 ahead of tomorrow's report.
08:59 EDTMMacy's trends softened in back-end of Q3, says Cleveland Research
Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic, and to offset the challenging Q3 performance. Shares are Buy rated.
November 10, 2014
15:57 EDTGPSWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
09:46 EDTLULUBB&T remains positive on lululemon following channel checks
BB&T said it remains positive on lululemon following recent channel checks. The firm continues to expect lululemon's results to improve as the company improved product assortment and laps 2013 PR stumbles. BB&T views the hire of Duke Stump as EVP of Community and Brand as a a positive and views the controversy over the donation to the Dalai Lama Center as overblown. Shares are Buy rated with a $50 price target.
07:22 EDTLULU, GPSU.S. Retail Softlines sector downgraded to Negative at Barclays
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07:12 EDTMCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
05:48 EDTGPS, LULUU.S. Retail Softlines industry cut to Negative at Barclays
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