Dillard’s Stock Posted Weak Q1 Results, Still Rose 9%
Dillard’s (NYSE:DDS) stock gained around 9% in after-hours trading on Thursday following its lower-than-expected first-quarter results.
David Einhorn’s Greenlight Capital: Analyzing Its 13F
On November 14, Greenlight Capital filed its 13F. In the third quarter, the company bought a fresh stake in NeuBase Therapeutics.
What’s the Next Big Move for David Einhorn?
Billionaire David Einhorn is prominent in the hedge fund industry for his bold investment strategies.
What Drove Einhorn’s Greenlight Capital’s Gains in Q2?
In contrast to last year, Greenlight Capital’s performance this year has been improving. In 2018, GLRE fell 34%, vastly underperforming the markets.
Einhorn’s New Stakes and Exits in Q1
David Einhorn’s Greenlight Capital (GLRE) initiated a new stake in Teekay LNG Partners (TGP) during the first quarter of 2019.
How Kohl’s PE Multiple Compares with Peers’
On January 16, Kohl’s (KSS) 12-month forward PE ratio was 12.1x. Meanwhile, Nordstrom (JWN), Macy’s (M), and Dillard’s (DDS) have PE ratios of 12.1x, 7.3x, and 11.2x, respectively.
Kohl’s Tanks 9.2%—Even with Strong Third-Quarter Results
On November 20, Kohl’s Corporation (KSS) posted its third-quarter results. Net sales of $4.37 billion and adjusted EPS of $0.98 beat the consensus estimates.
A Look at Kohl’s Capital Allocation Plans
On September 17, Kohl’s was trading at a 12-month forward PE multiple of ~14.0x.
How Does Kohl’s Price-to-Earnings Multiple Stack Up with Peers?
On May 14, Kohl’s (KSS) was trading at a 12-month forward PE (price-to-earnings) multiple of 11.4x.
Retail Stocks Tick Higher as Tax Reform Bill Gains Momentum
Retail stocks closed higher on Monday, December 4, 2017, probably in reaction to the Senate’s passing its tax reform bill early Saturday morning.
Efforts to Improve Macy’s Same-Store Sales Growth
At the Goldman Sachs Global Retailing Conference, Macy’s senior management discussed the company’s initiatives to improve Macy’s same-store sales.
Kohl’s Valuation Surges after Fiscal 2Q16 Results
As of August 15, Kohl’s was trading at a 12-month forward PE (price-to-earnings) ratio of 11.7x.
Insight into Nordstrom’s Sales-Driving Strategies
Nordstrom (JWN) has been aggressively investing in its growth initiatives, including expansion into Canada and the strengthening of its online business.
Can JCPenney Get Its Sales Back on Track?
JCPenney (JCP) has been implementing several initiatives to improve its sales growth.
JCPenney Looks for Growth beyond Apparel
JCPenney’s (JCP) same-store sales declined by 0.4% in 1Q16 ended April 30, 2016.
Kohl’s 1Q16 Sales Fell amid Challenging Retail Environment
Kohl’s (KSS) disappointed its investors with lower-than-expected sales of about $4.0 billion in 1Q16.
Why Did Macy’s 1Q16 Earnings Drop Sharply?
The 28.6% decline in Macy’s 1Q16 adjusted EPS was higher compared to a 14.2% decline in 4Q15 adjusted EPS and a 6.7% decline in 1Q15 adjusted EPS.
Why Macy’s Margins Might Be under Pressure in Fiscal 1Q16
Macy’s (M) gross margin in fiscal 4Q15 declined by 290 basis points on a year-over-year basis. Weak holiday sales and higher markdowns impacted Macy’s gross margin.
How Kohl’s Plans to Boost Its Sales in Fiscal 2016
In 4Q15, Kohl’s reported sales growth of 0.8% in comparison to 1.2% in 3Q15 and 3.9% in 4Q14.
JCPenney: What Does the Company Expect for Its Gross Margin?
JCPenney’s (JCP) gross margin expanded to 34.1% in 4Q15 ended January 30, 2016, compared with 33.8% in 4Q15.
Why Macy’s Valuation Has Risen in 2016
Macy’s (M) 12-month forward PE (price-to-earnings) ratio increased by 2.5% to 11.0x on February 23, the day the company announced its fiscal 4Q15 and fiscal 2015 results.
Did Macy’s Fiscal 4Q15 Earnings Beat Analysts’ Estimates?
Macy’s fiscal 4Q15 adjusted EPS (earnings per share) came in at $2.10, exceeding the consensus Wall Street estimate of $1.70, which excluded the impact of one-time items.
Macy’s Fiscal 4Q15 Margins Fall in Heavy Promotional Environment
In Macy’s fiscal 4Q15, which ended January 30, 2016, the company’s gross margin declined to 37.4% from 40.3% in fiscal 4Q14.
Did Macy’s Beat Fiscal 4Q15 Sales Estimates?
Macy’s reported fiscal 4Q15 net sales of $8.9 billion, exceeding the consensus Wall Street estimate of $8.8 billion.
Can Kohl’s Growth Strategy Boost Its Valuation?
As of February 19, 2016, Kohl’s was trading at a 12-month forward PE ratio of 10.4x. Its valuation multiple has fallen by 0.8% since the start of 2016.
How Do Most Analysts Currently Rate Kohl’s?
13 out of 24 analysts have “hold” recommendations on Kohl’s. Eight analysts have “buy” recommendations, and three analysts have “sell” recommendations.
Kohl’s Fiscal 4Q15 Earnings May Suffer on Lower Sales
Kohl’s is scheduled to report its fiscal 4Q15 and 2015 results on February 25, 2016. On February 4, the company provided an update on its fiscal 4Q15 sales.
Why Might Macy’s Margins Come Down in Fiscal 4Q15?
Aside from expected markdowns on merchandise, Macy’s margins in fiscal 4Q15 are likely to have been impacted by investments in several growth initiatives.
Macy’s Closes Brooklyn Real Estate Transaction
On January 29, 2016, Macy’s (M) announced the completion of its transaction with Tishman Speyer for the redevelopment of its Brooklyn, New York, store on Fulton Street.
Can JCPenney’s Turnaround Efforts Boost Its Stock Price in 2016?
JCPenney’s stock was trading at $6.79—down 2.6% since the beginning of 2016. The S&P 500 Index and the SPDR S&P Retail ETF (XRT) have fallen 5.4% and 5.7%.
JCPenney Brings Appliances Back to Stores after Over 3 Decades
JCPenney (JCP) will be bringing a leading assortment of major appliances to 22 pilot stores effective February 1, 2016.
Can Nordstrom’s 4Q15 Results Boost Its Stock Price?
Analysts’ 12-month price target for Nordstrom’s stock is $56.60.
Is Nordstrom’s Rack Business Losing Ground?
Nordstrom’s same-store sales at both its full-line stores and off-price Nordstrom Rack stores fell in 3Q15.
Business Inventories and Sales Decline with Sluggish Demand
The November business inventories to sales ratio stood at 1.4, compared with 1.3 in November 2014.
Macy’s Announces Productivity Measures, Massive Job Cuts
On January 6, 2016, Macy’s (M) announced measures to enhance productivity and improve performance. It aims to bring down selling, general, and administrative expenses by $400 million.
Macy’s Investors Disappointed in 2015: Stock Falls More Than 46%
Macy’s (M) stock price has fallen a whopping 46.7% this year. On December 21, 2015, Macy’s share price fell to $35.02. It touched its 52-week low of $34.50 on December 17.
Sizing up Kohl’s Relative Valuation versus Its Peer Group
As of December 15, Kohl’s was trading at a forward PE multiple of 10.2x. Kohl’s is trading at a premium valuation compared to Macy’s and Dillard’s.
Has Kohl’s Been Able to Deliver an Improved Performance so Far?
After disappointing investors in 2Q15, Kohl’s bounced back in 3Q15, beating the consensus Wall Street analyst earnings and sales estimates in 3Q15.
Kohl’s Has Reasonable Debt Levels Compared to Peers
As of 3Q15, Kohl’s total debt stood at $5.1 billion. Its total debt also declined in fiscal 2014 to $4.8 billion from $4.9 billion in fiscal 2013.
Kohl’s Brings Down its Capital Expenditure on New Stores
Kohl’s is directing its investments more toward revamping its existing stores and in IT rather than in new stores.
Understanding the Key Elements of Kohl’s Greatness Agenda Strategy
Kohl’s aims to achieve $21 billion in sales by 2017 with the help of its new “Greatness Agenda” strategy.
Kohl’s Merchandise Mix and Its Focus on Women’s Apparel
In fiscal 2014 ended January 31, 2015, women’s apparel accounted for 30% of Kohl’s net sales.
Why TJX Companies’ Margins Declined in Fiscal 3Q16
For the full-year fiscal 2016 ending January 30, 2016, TJX Companies expects a gross margin of 28.5%, unchanged from fiscal 2015.
Higher Traffic Helped TJX Deliver a Sales Beat in Fiscal 3Q16
Off-price retailer TJX Companies reported its results for fiscal 3Q16 on November 17, 2015. Its sales of $7.8 billion beat the consensus Wall Street analyst sales estimate of $7.7 billion.
How Has Dillard’s Performed Compared to Its Peers?
Dillard’s peers have outperformed based on PE, PBV, and PS. However, Dillard’s is ahead of its peers based on EPS and net profit margin.
Nordstrom’s Stock Underperformed Other Off-Price Retailers
As of November 4, Nordstrom’s stock price has fallen by 11.3% to $66.42 since the announcement of the company’s 2Q15 results on August 13.
Ross Stores Boasts Lower Debt Level Compared to Its Peers
As at the end of fiscal 2014 ended January 31, 2015, Ross Stores had a total debt level of $398.4 million, compared to $150 million in fiscal 2013.
Why JCPenney’s Strategic Initiatives Boosted Same-Store Sales Growth
JCPenney’s (JCP) turnaround efforts that commenced in 2013 have helped improve its same-store sales.
JCPenney’s Turnaround Strategy: An Attempt to Rise from the Ashes
Mike Ullman implemented several initiatives as part of a turnaround strategy that aimed to bring back JCPenney’s consumers and improve its financial position.
Key Department Store Stocks Underperform in the Market
As of September 4, department store stocks for Macy’s fell by 11.1% since the start of 2015. Despite 1H15 sales growth, Nordstrom’s stock also fell by 7%.
Nordstrom Steals Thunder from Department Store Peers in 1H15
Nordstrom reported a 9.4% rise in total revenue for 1H15. The sales growth was due to growth from full-line stores, online businesses, and off-price stores.
Major US Department Stores Struggle to Attract Consumers in 1H15
The US Census Bureau’s latest report revealed a 0.8% decline in July US department store sales, compared to June 2015. Sales showed YoY declines of 2.7%.
What Do Recent Retail Sales Trends Indicate?
After the June figures not meeting the expectations, investors had a smile on their faces when the July retail sales number increased 0.6% month-over-month, beating the consensus of 0.5%.
JCPenney’s Turnaround Strategy Helps Narrow 2Q15 Loss
JCPenney (JCP) trimmed its adjusted loss per share in fiscal 2Q15 to $0.41 compared to $0.75 in the corresponding quarter last year.
Nordstrom Impresses Investors with Strong Sales Growth in 2Q15
Nordstrom’s (JWN) sales in 2Q15 increased by 9.1% to $3.7 billion from the comparable quarter of the previous year.
What Brought Down Macy’s Margins in 2Q15?
Macy’s margins in 2Q15 were affected by a 150 basis point increase in selling, general, and administrative expenses, or SG&A, as a percentage of sales.
What’s the Easter Bunny Bringing for Retailers?
The unemployment rate in the month of February 2015 moved down to 5.5% from 5.7% in January.
Two Key Retail Sales Indices Lift Hope for Department Stores
The Johnson Redbook Index and the Retail Economist-Goldman Sachs Weekly Chain Store Sales Index are two key retail sales indices that measure same-store sales on a weekly basis.
Macy’s Stock Underperforms Key Department Store Rivals
Macy’s stock has underperformed peers like Dillard’s, Kohl’s, and Nordstrom, which have appreciated by 35%, 30%, and 28.2%, respectively.
What Steps Has Macy’s Taken to Improve Inventory Management?
Department stores like Macy’s (M) are focusing on improving their inventory management so as to maintain the optimal level of inventory, bring down costs, and avoid stock-outs.
How Macy’s Productivity Measures Aim to Improve Operating Margins
Macy’s (M) has been implementing productivity measures to improve its operating margins in order to offset the impact of stagnant sales amid intense competition.
Macy’s Same-Store Sales Growth Slows Down in Fiscal 2014
Macy’s same-store sales growth slowed down to 0.7% in fiscal 2014 compared to 1.9% in fiscal 2013 and 3.70% in fiscal 2012.
Macy’s: The Largest Department Store Sees Sluggish Top Line
Macy’s (M) is a leading department store chain that operates about 823 stores in 45 states, the District of Columbia, Guam, and Puerto Rico.
Nordstrom: Spending aggressively to generate results
On top of technology upgrades and fulfillment centers, Nordstrom has allocated 25% of its future spending to expand Canadian and Manhattan stores.
Nordstrom ramps up retail footprint in North America
In fiscal 2015, it plans to open four full-line stores in the US and two in Canada. Nordstrom also plans to open 27 more Nordstrom Rack stores in the US.
Nordstrom’s Rack stores and online channel are top performers
Nordstrom’s Rack stores sell clearance and end-of-season merchandise at deep discounts. Today there are 167 Nordstrom Rack stores across the US.
Nordstrom’s online business is its fastest-growing channel
Nordstrom’s online business has been registering about 30% growth annually for the past three years.
Nordstrom extends menswear offerings with Trunk Club acquisition
This article discusses Nordstrom’s Trunk Club acquisition.
Nordstrom’s debt levels are improving
Nordstrom’s debt levels have decreased over the past three years.
Nordstrom’s inventory management better than that of its peers
This article discusses Nordstrom’s inventory management in comparison to that of its industry peers.
Nordstrom’s multichannel strategy, customer focus lead to success
Nordstrom’s multichannel strategy and best-in-class customer service have made the company famous.
Nordstrom’s capital expenditure for new stores, technology
Nordstrom’s capital expenditure from fiscal 2009 to fiscal 2013 was $2.2 billion.
Nordstrom’s operating margin impacted by growth initiatives
Nordstrom’s operating margin declined from 11.5% in fiscal 2011 to 11.1% in fiscal 2012 and 10.8% in fiscal 2013.
Big plans for Nordstrom Rack stores
Nordstrom Rack stores sell clearance and end-of-season designer merchandise at a 30% to 70% discount.
Understanding Nordstrom’s revenue streams
In fiscal 2013, the company’s Retail segment contributed 97% of Nordstrom’s revenues of $12.5 billion, while the Credit segment accounted for only 3%.
ETFs with holdings in Nordstrom
This article discusses ETFs with holdings in Nordstrom.
An overview of Nordstrom’s growth story
This article provides a brief overview of Nordstrom’s growth story.
Macy’s works on inventory management: Will it improve sales?
Macy’s is taking measures to improve inventory management, including its My Macy’s program that customizes merchandise according to local preferences.
Selling Channels: How Coach Products Reach Customers
Coach, Inc. (COH) distributes products through wholesale and direct-to-customer channels. It runs wholesale shops-within-shops at major department stores.
TPG-Axon Capital buys CNX, M, OUTR, and DDS and decreases positions in ROC, GNC, and WYN—13F Flash C
In this six-part series, we’ll go through some of the main positions TPG-Axon Capital traded this past quarter. Why buy Outerwall Inc. (OUTR)?
TPG-Axon Capital buys CNX, M, OUTR, and DDS and decreases positions in ROC, GNC, and WYN—13F Flash A
In this six-part series, we’ll go through some of the main positions TPG-Axon Capital traded this past quarter. Why buy CONSOL Energy (CNX)?