Retail Roundup: Walmart, Target, Home Depot Beat, Will Ross Stores Follow Down The Aisle?
Portfolio Pulse from Melanie Schaffer
Retail stocks in the consumer discretionary sector reported better-than-expected earnings this week, with Home Depot, Target, and Walmart beating estimates. Ross Stores is set to report its Q1 earnings after the bell on Thursday.
May 18, 2023 | 6:20 pm
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POSITIVE IMPACT
Home Depot reported Q1 earnings of $3.82 per share, beating estimates, but missed on sales with $37.257 billion.
Home Depot's better-than-expected earnings show strength in the retail sector, which could lead to a positive short-term impact on its stock price. However, the missed sales target may temper gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Target reported Q1 sales of $25.322 billion and earnings of $2.05 per share, both beating analyst estimates.
Target's better-than-expected sales and earnings results indicate strength in the retail sector, which could lead to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Walmart reported Q1 earnings of $1.47 per share and sales of $152.301 billion, both beating analyst estimates.
Walmart's better-than-expected earnings and sales results indicate strength in the retail sector, which could lead to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ross Stores is set to report Q1 earnings after the bell on Thursday, with analysts expecting earnings of $1.06 per share on revenues of $4.5 billion.
As Ross Stores has not yet reported its earnings, it is difficult to predict the short-term impact on its stock price. However, the positive results from other retailers may indicate a favorable environment for Ross Stores.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100