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January 15, 2013
07:08 EDTSAFM, JCP, FL, KMB, MCD, PGRetailers concerned about consumer buying as payroll tax hits, WSJ reports
American workers are opening their first paychecks of the year and finding an unpleasant surprise: The government's take has gone up. That consumers remain tentative threatens to put a drag on economic growth. The effect for companies is that this will likely cement a frugal attitude that led consumers to cut back on eating out and shift to less-expensive store brands, reports the Wall Street Journal.Reference Link
News For PG;KMB;JCP;MCD;FL;SAFM From The Last 14 Days
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November 20, 2015
09:09 EDTFLFoot Locker says remodeled stores are doing 'quite well'
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06:46 EDTFLFoot Locker reports Q3 EPS $1.00, consensus 95c
Reports Q3 revenue $1.79M, consensus $1.78B. Reports Q3 SSS up 8.7%
06:16 EDTMCDMcDonald's to pay $355K in penalties to settle immigration discrimination suit
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November 19, 2015
15:37 EDTFLFoot Locker volatility elevated into Q3 and outlook
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15:24 EDTFLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Foot Locker (FL), consensus 94c... Sirona Dental (SIRO), consensus $1.10... Abercrombie & Fitch (ANF), consensus 22c... Hibbett Sport (HIBB), consensus 68c.
10:00 EDTFLOn The Fly: Analyst Initiation Summary
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08:50 EDTFLFoot Locker pullback leads to more favorable risk/reward, says Baird
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07:44 EDTFLFoot Locker trends appear mixed quarter to date, says UBS
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November 18, 2015
19:27 EDTFLFoot Locker initiated with an Outperform at Wells Fargo
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09:09 EDTPGProcter & Gamble says 'not averse' to looking at any option that creates value
Says "not averse" to looking at any option that creates value for shareholders.
08:57 EDTPGProcter & Gamble CFO sees organic sales topline growth resuming in Q2
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08:46 EDTPGProcter & Gamble repeats FY16 guidance in presentation slides
Sees FY16 core EPS growth down slightly to up mid single digits, all-in EPS growth up 53%-63%. Sees FY16 core operating profit up mid to high single digits. Sees FY16 organic sales growth in line to up low single digits, all-in sales growth down high single digits. Sees currency down 5%-6%, Venezuela and minor brand divestitures down 2%-3%. Sees FY16 share retirement/repurchases $8B-$9B, dividends over $7B, cash returned to shareholders $15B-$16B. Comments from slides being presented at the Morgan Stanley Global Consumer and Retail Conference.
November 17, 2015
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
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10:01 EDTFLUnder Armour, Nike slide after Dick's outlook misses expectations
Shares of Under Armour (UA) and Nike (NKE) slipped after Dick's Sporting Goods (DKS) provided guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. WHAT'S NEW: Dick's Sporting Goods reported Q3 adjusted earnings per share of 45c on revenue of $1.64B, mostly in-line with analyst estimates of 47c on revenues of $1.64B. The company guided for Q4 EPS of $1.10-$1.25, short of the consensus estimate of $1.43. Dick's also said it anticipates FY15 adjusted EPS of $2.85-$3.00, lower than current analyst expectations of $3.19. STREET RESEARCH: Following the report, Baird analyst Justin Kleber said that Dick's Sporting Goods is the "strongest player" in its segment, which should enable the company to grow its sector-leading 10% market share at the expense of smaller competitors. The analyst added that profitability for the company should improve as volumes increase and as the company leverages its store base to fulfill further orders. Kleber said that Dick's Sporting Goods' e-commerce business will be more profitable than its brick-and-mortar business by 2017. The analyst maintained a Neutral rating and $48 price target on Dick's Sporting Goods' stock. PRICE ACTION: In morning trading, Dick's Sporting Goods dropped 17.5% to $33.67, while supplier Under Armour fell 5.6% to $84.95 and Nike was down 2% to $121.08. Dick's peers fell as well, with Finish Line (FINL) dropping 1%, Foot Locker (FL) slid 1.3% and Cabela's (CAB) dipping marginally in morning trading.
07:52 EDTPGMorgan Stanley to hold a conference
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06:12 EDTMCDMcDonald's to launch "McPick 2" menu on January 4, WSJ says
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November 16, 2015
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
11:35 EDTJCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).
07:41 EDTFLFoot Locker weakness a buying opportunity, says Canaccord
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06:11 EDTMCDTaco Bell to stop using eggs laid by caged hens by 2017, Reuters reports
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