With most of major retailers reporting earnings within the next two weeks, expectations have shifted downward following big
retail sales misses from December.
Nordstrom, Inc. (NYSE: JWN) and
Macy’s Inc (NYSE: M) are preparing to report
fourth-quarter results later this month amid uncertainty surrounding the department store sector and news of a weak holiday
season.
TD Ameritrade senior trading specialist Shawn Cruz predicts that both companies will be more volatile.
"Investors have been hearing a lot about how these companies are trying to improve e-commerce [and] it will be interesting to
see if other areas of the business can prop up a drop in e-commerce," Cruz told Benzinga.
Earnings Dates
Macy's cut its full-year 2018 comps guidance in early January from 2.3-2.5
percent to 2 percent.
A few days later, Nordstrom reported holiday comps were up 1.3 percent
year-over-year but said it sees full-year 2018 adjusted earnings at the low end of its $3.55-$3.65 range.
Nordstrom is scheduled to report fourth-quarter earnings Feb. 28, and analysts are expecting the company to deliver earnings of
$1.43 per share. The Seattle-based retailer is expected to report sales of $4.6 billion.
Macy's is set to report fourth-quarter earnings Feb. 26, and analysts are expecting the company to deliver earnings of $2.53 per
share. Sales are expected to come in at $8.45 billion.
Related Links:
Wedbush
Upgrades Nordstrom, Says 2018 An 'Inflection Point For Profitable Growth'
Macy's
Receives Mixed Analyst Reaction After Q3 Earnings Beat, Sales Miss
Spencer Israel contributed to this report.
Photo by Andy
C/Wikimedia.
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