Citi 2Q10 Broadlines Earnings Preview: Retailers Survive Dog Days of Summer
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Rating Summary:
6 Buy, 27 Hold, 6 Sell
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 27 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Citi 2Q10 Broadlines Earnings Preview: Retailers Survive Dog Days of Summer; Expect Cautious 2H10 Outlook
Citi analyst says, "We expect retailers to deliver mixed 2Q10 results. Our 2Q10 EPS estimates are above consensus for Nordstrom (NYSE: JWN), Kohl's (NYSE: KSS), Macy's (NYSE: M), Saks (NYSE: SKS), Target (NYSE: TGT), and Wal-Mart (NYSE: WMT), and below for BJ's (NYSE: BJ), Home Depot (NYSE: HD), JCPenney (NYSE: JCP), and Lowe's (NYSE: LOW. With much uncertainty about the health of the consumer, we expect investors to be focused on retailers' back-half outlooks. We note that the tone from retailers following July retail sales was more cautious than in recent months, and we see near-term downside for our stocks as we believe that retailers could lower earnings guidance for 2H10."
"Potential Near-Term Weakness into EPS: HD/LOW — HD: Our $0.69 est. for 2Q is below cons. of $0.71. We believe HD could lower its 2010 guidance. LOW: Our 2Q est. of $0.56 is below cons. of $0.60. LOW may lower 2010 guidance."
Citi analyst says, "We expect retailers to deliver mixed 2Q10 results. Our 2Q10 EPS estimates are above consensus for Nordstrom (NYSE: JWN), Kohl's (NYSE: KSS), Macy's (NYSE: M), Saks (NYSE: SKS), Target (NYSE: TGT), and Wal-Mart (NYSE: WMT), and below for BJ's (NYSE: BJ), Home Depot (NYSE: HD), JCPenney (NYSE: JCP), and Lowe's (NYSE: LOW. With much uncertainty about the health of the consumer, we expect investors to be focused on retailers' back-half outlooks. We note that the tone from retailers following July retail sales was more cautious than in recent months, and we see near-term downside for our stocks as we believe that retailers could lower earnings guidance for 2H10."
"Potential Near-Term Weakness into EPS: HD/LOW — HD: Our $0.69 est. for 2Q is below cons. of $0.71. We believe HD could lower its 2010 guidance. LOW: Our 2Q est. of $0.56 is below cons. of $0.60. LOW may lower 2010 guidance."
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