Discount retailers, unsurprisingly, could be the toast of the sector, if the quarterly reports released so far are anything to
judge by. BTIG said in a recent note it expects holiday comps for the dollar stores to land at 2.2 percent.
Dollar Tree, Ross Stores Gain On Earnings
Dollar Tree, Inc. (NASDAQ: DLTR)
reported better-than-expected third quarter earnings and sales Tuesday before the market open, helped by an improvement in
customer traffic and spending. Comps rose 3.3 percent, also ahead of expectations.
After advancing 2.4 percent to $99.46 on Tuesday in reaction to the results, Dollar Tree
shares are up an incremental 0.19 percent at the time of publication.
Ross Stores, Inc. (NASDAQ: ROST)
announced its Q3 results after the
market close Nov. 16. The discount retailer reported
Q3 earnings of 72 cents per share, ahead of the consensus, and sales of $3.3 billion — up 7.8 percent year-over-year — on 4 percent
comps growth.
The company raised its fourth quarter guidance as well as its full year earnings per share guidance.
Ross Stores shares soared close to 10 percent to $72.25 on Nov. 17 in reaction to the results.
Sympathy Moves
Fellow discount retailers have also joined the party, with the sympathy move taking the shares of Casey's General Stores
Inc (NASDAQ: CASY) up by 1 percent on Nov. 17,
although the shares have shown a muted reaction to Dollar Tree's results.
Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) shares rallied 2.5 percent on Nov. 17. The stock added 0.8 percent Tuesday
following Dollar Tree's results.
Five Below Inc (NASDAQ: FIVE) shares
haven't reacted much to earnings from both Dollar Tree and Ross Stores.
Big Lots, Inc. (NYSE: BIG) rose 2.2 percent
on Nov. 17 but lost 1.6 percent Tuesday.
See also: Lowe's
Strong Q3 Builds Excitement For The Coming Quarters
Upoming Discount Retailer Reports
Big Lots
Earnings Date: Nov. 30, 2017 before the market open
Consensus Call:
• EPS: 4 cents vs. 4 cents year-ago
• Revenues: $1.12 billion vs. $1.11 billion last year
Five Below
Earnings Date: Nov. 30, 2017 after the market close
Consensus Call:
• EPS: 13 cents vs. 10 cents Year-ago
• Revenues: $245.57 million vs. $199.47 million last year
Casey's
Earnings Date: Dec. 5, 2017 after the market close
Consensus Call:
• EPS: $1.40 vs. $1.44 year-ago
• Revenues: $2.17 billion vs. $1.92 billion last year
Ollie's Bargain Outlet
Earnings Date: N/A
Consensus Call:
• EPS: 21 cents vs. 17 cents one year ago
• Revenues: $232.80 million vs. $201.99 million last year
Related Link:
Citi:
After Whole Foods, Here's 7 More Retailers Amazon Could Buy
Photo by Mike Kalasnik/Flickr.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.