Retailers again are the headliners on Wednesday. There is a clear difference between companies that are experiencing successful e-commerce sales and those
Retailers again are the headliners on Wednesday. There is a clear difference between companies that are experiencing successful e-commerce sales and those who are not.
Best Buy (BBY) is scheduled to release financial results on Wednesday, May 20. The electronic retail giant is expected to report earnings of $0.60 per share on 8.35 billion in revenue. This compares to 2,75 per share in the quarter prior. Earnings forecasts have declined more than 50% over the last 30-days, which could make it easy for Bestbuy to beat. Growth estimates are expected to contract by 41.2%.
The stock price has recaptured most of the losses that it experienced in March, and is poised to test the highs near $91 per share. On a positive earnings result, if prices close at a fresh 52-week high, the trend is likely to persist, making BBY a buy.
Macy’s (M) the retail company is facing heavy losses and has lost more than 70% of its value since February. The company is scheduled to release financial results on Wednesday, May 20. The company is expected to lose -1.22 per share on $3.29 billion in revenue. This compares to $1.96 in earnings in the quarter prior. Analyst forecasts of earnings have declined $0.52 during the past 30-days. Growth estimates are for a decline of 377%.
The stock price broke down in March and has not rebounded as the company considers bankruptcy. Any investment is likely to be a long slog.
TJX Companies (TJX) is expected to release financial results on Wednesday, May 20. The company is expected to earn -$0.15 per share on $5.17 billion in revenues. This compares to $.77 in earning in the prior quarter. Earnings forecasts have declined by more than $.39 per share over the last 30-days.
Most of the TXJ stores were closed during the US quarantine. Its customers are generally middle-income customers, that have lost jobs over the past 8-weeks. The shares are unlikely to see a positive upside until a vaccine is released.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.