Financialbuzz.com

'Market Recap' Week Ending August 23rd, 2019 - Seite 3

Lowe's Companies, Inc. (NYSE: LOW) reported its second quarter financials during pre-market hours on Wednesday. The home improvement retailer topped analysts' estimates, sending shares 10% higher. For the second quarter, Lowe's reported earnings of USD 2.15 per share on revenues of USD 20.99 Billion. Analysts expected earnings of USD 2.01 per share on revenues of USD 20.94 Billion. Lowe's reported same store sales of 2.3%, beating estimates of 1.9%. Revenue increased marginally by 0.5% compared to the second quarter of last year. Lowe's mentioned that its financials were impacted by lumber deflation and difficult weather. Nonetheless, the Company was able to report positive comparable sales in all of its 15 regions across the U.S. As for the rest of fiscal 2019, Lowe's expects revenue to increase by 2%, while comparable sales is projected to rise by 3% compared to fiscal 2018. Lowe's also expects earnings between USD 5.45 to USD 5.65 per share. 

Target Corporation (NYSE: TGT) reported its second quarter financial results before the opening bell on Wednesday. The retailer reported better-than-expected results and provided an upbeat guidance, sending shares surging by over 17.7% to USD 100.77 per share. For the second quarter, Target reported earnings of USD 1.82 per share on revenues of USD 18.42 Billion. Analysts expected earnings of USD 1.62 per share on revenues of USD 18.34 Billion. Second quarter comparable sales grew by 3.4%, driven primarily by a 2.4% traffic growth during the quarter. For both the third quarter and second half of fiscal 2019, Target expects comparable sales growth to fall in-line with 3.4% growth in the second quarter. For the third quarter, the Company expects to report adjusted earnings between USD 1.04 to USD 1.24 per share. And as for the full year, Target now expects earnings of USD 5.90 to USD 6.20 per share, compared to its previous forecast of USD 5.75 to USD 6.05 per share. 

Nordstrom, Inc. (NYSE: JWN) reported its second quarter financial results during extended trading hours on Wednesday. The retailer crushed analysts' earnings estimates but fell short of revenue projections. For the second quarter, Nordstrom reported earnings of USD 0.90 per share on revenues of USD 3.87 Billion. Analysts expected earnings of USD 0.75 per share on revenues of USD 3.93 Billion. In Full-Price, revenue decreased by 6.5% compared to the same period last year. Off-Price revenue declined by 1.9%. Nordstrom reported total company digital sales grew by 4%, accounting for 30% of the business. For the full-year, Nordstrom is expecting net sales to either decrease by 2% or remain flat. Additionally, the Company lowered the higher-end of its guidance and now expects earnings between USD 3.25 to USD 3.50 compared to its previous outlook of USD 3.25 to USD 3.65 per share.