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December 5, 2012
10:56 EDTPVH, LULU, OXM, VFCOxford Industries tumbles after results miss expectations
Apparel maker Oxford Industries (OXM) is plunging after the company last night reported earnings per share and revenue for the third quarter of its fiscal 2012 that were below analysts' consensus estimates. Moreover, the company's fourth quarter earnings per share and revenue guidance were well below the consensus estimate. Oxford cited a disappointing performance by its Ben Sherman sportswear brand, delays of store openings in Hong Kong and Chicago, and Hurricane Sandy as factors that dragged down its guidance. In a note to investors earlier today, however, Brean Capital analyst Eric Beder recommended buying the stock on weakness. Oxford remains poised to beat expectations, as the company's Tommy Bahama and Lilly Pulitzer brands are well-positioned to generate double digit revenue growth during the company's fiscal 2014, Beder believes. Moreover, Oxford has a good opportunity to stabilize Ben Sherman during fiscal 2014 added the analyst, who reiterated his $60 price target on the stock. In mid-morning trading, Oxford dropped $6.71, or 12.71%, to $46.07. Other apparel makers also retreated significantly, with PVH Corp (PVH) losing 2.38% to $11.02, V.F. Corporation (VFC) giving back 1.56% to $153.75, and Lululemon (LULU) sliding 3.19% to $68.39.
News For OXM;PVH;VFC;LULU From The Last 14 Days
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December 11, 2014
05:36 EDTLULUlululemon sees Q4 EPS 65c-69c, consensus 72c
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05:34 EDTLULUlululemon reports Q3 EPS 42c, consensus 38c
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December 10, 2014
16:08 EDTOXMOxford Industries sees FY14 EPS $2.85-$2.95, consensus $3.09
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16:06 EDTOXMOxford Industries sees Q4 adjusted EPS 96c-$1.06, consensus $1.18
Sees Q4 revenue $267M-$277M, consensus $280.74M.
16:05 EDTOXMOxford Industries reports Q3 adjusted EPS 1c, consensus 2c
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15:25 EDTLULUNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Lululemon (LULU), consensus 38c; RadioShack (RSH), consensus ($1.04); Ciena (CIEN), consensus 13c; Methode Electronics (MEI), consensus 55c.
15:25 EDTOXMNotable companies reporting after market close
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14:12 EDTLULULululemon December weekly 48 straddle priced for 10% move into Q3
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14:06 EDTLULUEarnings Preview: Lululemon Q3 could be positive turning point, analyst says
Lululemon Athletica (LULU) is scheduled to report third quarter earnings before the market open on Thursday, December 11, with a conference call scheduled for 9:00 am ET. Lululemon is a designer and retailer of yoga-inspired apparel operating primarily in North America and Australia. EXPECTATIONS: Analysts are looking for earnings per share of 38c on revenue of $424.68, according to First Call. The consensus range for EPS is 37c-41c on revenue of $420M-$430.54M. LAST QUARTER: Lululemon reported second quarter EPS of 33c on revenue of $390.7M, beating estimates for 29c and $367.8M, respectively. Total same-store sales were flat in Q2 on a constant dollar basis; Comparable store sales for Q2 decreased by 5% on a constant dollar basis and direct to consumer revenue increased 30% on a constant dollar basis. Looking ahead, the company raised its fiscal year 2014 normalized EPS view to $1.72-$1.77 from $1.71-$1.76 and narrowed its revenue view to $1.78B-$1.8B from $1.77B-$1.8B against estimates at that time for $1.74 and $1.78B, respectively. Third quarter EPS was forecast at 36c-38c on revenue of $420M-$425M. Q3 guidance was based on a total combined comparable sales increase in the low single digits on a constant dollar basis. The retailer forecast Q3 and FY14 gross margin of approximately 51%. NEWS: During its Q2 earnings conference call, lululemon said it was "happy" to have Advent back as a shareholder and is "looking forward" to having Advent's guidance going forward. STREET RESEARCH: Yesterday, Wells Fargo upgraded the stock to Outperform from Market Perform. Lululemon should benefit from the strength of the athletic apparel category, as well as the annual growth of over 10% in the total square footage of its stores, Wells Fargo believes. Meanwhile, the firm said its merchandise margins should increase in 2015, as it is offering smaller discounts than in the past. Barclays, which has an Overweight rating and $55 target, also wrote yesterday that the company's Q3 results could be a positive turning point for shares. Although Barclays analyst Matthew McClintock expects the company to report Q3 earnings per share of 38c, in-line with the consensus estimate, he believes that the company's comparative sales rose 1.8% last quarter, versus the same period a year earlier. If lululemon reports a 1.8% comp increase, it would mark the first time since the second quarter of 2013 that its comparative sales growth accelerated compared with the previous quarter, the analyst noted. In November, Sterne Agee downgraded lululemon to Neutral from Buy, as it believes that the company's brand has been damaged, causing many customers to leave, while its competition has become stronger. At the time of its downgrade on November 14, Sterne Agee had a price target of $39 on the stock. PRICE ACTION: Over the last three months, lululemon shares are up almost 25%. Year-to-date, shares are down nearly 20%. In afternoon trading ahead of tomorrow's earnings report, shares are down 1.25% to $47.13.
10:20 EDTPVHOptions with decreasing implied volatility
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06:03 EDTPVHPVH Corp. enters into worldwide partnership with Save the Children
PVH announced a worldwide partnership with Save the Children, supporting their programming with a $5M commitment.
December 9, 2014
11:43 EDTLULUlululemon advances after Wells upgrade, upbeat Barclays note
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10:28 EDTLULUlululemon trades up in down tape, levels to watch
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10:23 EDTLULUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
07:44 EDTLULULululemon Athletica volatility elevated into Q3 and outlook
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07:30 EDTLULUWells Fargo sees fewer distractions for lululemon, upgrades shares
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07:09 EDTLULUlululemon's Q3 results could mark an inflection point, says Barclays
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05:41 EDTLULUlululemon upgraded to Outperform from Market Perform at Wells Fargo
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December 8, 2014
08:12 EDTVFCVF Corp., IFC distribute financing to Bangladeshi factories
VF Corporation and IFC, a member of the World Bank Group, announced they have provided loans to three Bangladeshi garment factories under a new program for funding fire and building safety improvements. Through the financing arrangement, VF provides a full corporate guarantee for up to $10M that the IFC and its partner BRAC Bank lend to VFs contract suppliers. VFs guarantee to back the loans makes it possible for IFC to lend at lower interest rates. This initiative helps VF suppliers in Bangladesh overcome financial obstacles to improving workplace safety conditions.
06:12 EDTLULUStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
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