Retailers Report Earnings Ahead Of Black Friday: Best Buy, Kohl's, American Eagle And More Stocks To Watch
Portfolio Pulse from Chris Katje
Ahead of Black Friday, several retailers are set to report earnings, including Best Buy (BBY), which faces lowered price targets due to macro trends affecting consumer demand. Analysts have mixed views, with some seeing long-term strength and others noting near-term challenges. Other retailers reporting earnings include Lowe's (LOW), Kohl's (KSS), Dick's Sporting Goods (DKS), American Eagle Outfitters (AEO), Abercrombie & Fitch (ANF), Burlington Stores (BURL), and Guess? (GES). The reports will provide insights into consumer spending and expectations for the holiday season.
November 20, 2023 | 5:18 pm
News sentiment analysis
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POSITIVE IMPACT
Abercrombie & Fitch's stock hits new highs, up 211% year-to-date, as it prepares to report earnings, signaling strong investor confidence.
The significant year-to-date increase in Abercrombie & Fitch's stock price suggests positive investor sentiment, which could continue in the short term, especially if earnings are favorable.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
American Eagle Outfitters reports earnings as investors look for indicators of performance in the retail sector.
American Eagle's earnings will be indicative of the retail sector's health, but the article does not provide specific information to predict short-term stock movement.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Burlington Stores reports earnings with its stock down year-to-date, which may reflect investor caution towards the company's performance.
Burlington's stock being down year-to-date indicates potential investor caution, but the article lacks specific details to forecast the short-term impact.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Dick's Sporting Goods reports earnings with its stock down year-to-date, potentially reflecting investor concerns about retail performance.
The article notes that Dick's Sporting Goods is down year-to-date, indicating potential concerns, but without specific analyst commentary, the short-term impact remains uncertain.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Guess? Inc. will report earnings after the market closes, providing insights into its performance and the apparel sector.
Guess? Inc.'s earnings will offer insights into the apparel sector, but no specific information in the article suggests a direct short-term impact on the stock.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Kohl's is among the retailers reporting earnings, which will be scrutinized for consumer spending patterns and forward guidance.
Kohl's earnings will be important for market sentiment, but the article does not provide specific details that would suggest a clear short-term direction for the stock.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Lowe's earnings report will be closely watched as an indicator of housing, home improvement, and consumer spending trends.
Lowe's report will provide insights but without specific analyst sentiment or price target changes mentioned, the short-term impact is neutral.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Best Buy faces lowered price targets from analysts due to challenging macro trends and is expected to continue facing pressure on consumer demand. Long-term prospects remain positive with efficient operations and strong management.
The lowered price targets and cautious analyst sentiment suggest potential short-term negative impact on Best Buy's stock price. However, the company's long-term strengths may mitigate some of the negative sentiment.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90