Citi 2Q10 Broadlines Earnings Preview: Retailers Survive Dog Days of Summer
Tweet
Share
E-mailGet Alerts JWN Hot Sheet
Price: $24.66 --0%
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
- Cummins (CMI) PT Lowered to $675 at Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Retail SalesRelated Entities
CitiSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
