Macy’s 2Q17 earnings
Department store Macy’s (M) reported its fiscal 2Q17 results on August 10, 2017. Its earnings fell 11.1% to $0.48 per share compared to $0.54 in fiscal 2Q16. EPS (earnings per share) surpassed the estimate of $0.46 per share. Revenue was $5.6 billion compared to $5.9 billion in 2Q16 and slightly higher than analysts’ estimate. The company also reported a 2.8% fall in comparable sales on an owned basis. The disappointing 2Q17 results pulled down Macy’s stock by 11.5% last week and 42.4% YTD (year-to-date).
Priceline Group (PCLN) announced its fiscal 2Q17 results on August 8, 2017. It posted EPS of $15.10, a 20.2% rise compared to $12.60 in fiscal 2Q16. It was 6.6% higher than the consensus estimate. Revenues were $3.02 billion in fiscal 2Q17, a rise of 18.3% compared to fiscal 2Q16 and higher than the estimate of $3.0 billion. Despite strong earnings results, the stock fell 8.8% last week on the back of weak guidance.
Department store Kohl’s (KSS) announced its fiscal 2Q17 results on August 10, 2017, before the market opened. Revenue was $4.14 billion compared to $4.18 billion in 2Q16. EPS rose to $1.24 in fiscal 2Q17 compared to $1.22 in 2Q16. Both revenue and EPS surpassed estimates of $4.13 billion and $1.19, respectively. Despite the revenue and earnings beat, Kohl’s stock fell 7.8% last week amid a fall in total sales and a 0.40% fall in comparable sales. The stock has fallen 21.7% YTD.