Streetbeat News

Revenues

BBY

Best Buy has observed that consumer demand has become more uneven and difficult to predict in the current macro environment. This statement suggests potential challenges for the company in forecasting sales and adjusting inventory levels, which could impact its financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:27 pm

MNSO

MINISO Group Holding Limited (NYSE:MNSO) reported a 36.7% increase in Q1 FY24 revenue, reaching RMB3.79 billion. Revenue from China rose 34.7% Y/Y to RMB2.49 billion. Gross profit surged 60.2% Y/Y with a gross margin of 41.8%. Operating income and adjusted EBITDA also saw significant increases of 54.7% and 52.8%, respectively. MINISO surpassed 6,000 stores, totaling 6,115, and beat earnings per ADS estimates at $0.28. The company has $875 million in cash and expects continued sales growth and margin optimization.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 12:20 pm

KSS

Kohl's reported a 5.5% decline in Q3 comparable sales, indicating a potential challenge in the retail sector and possibly reflecting a decrease in consumer spending or increased competition.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:04 pm

KSS

Kohl's has updated its FY23 sales forecast, now expecting a decline of (2.8%) to (4%), compared to its previous projection of (2%) to (4%). This revision indicates a slightly more pessimistic outlook for the company's sales performance in the fiscal year 2023.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:04 pm

CAL

Caleres has updated its FY23 adjusted EPS guidance to $4.10-$4.20, slightly narrowing the range from the previous $4.10-$4.30. This new guidance is in line with the $4.19 consensus estimate. Additionally, the company expects its consolidated net sales to decrease by 4.5% to 5.5%.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:58 am

BURL

Burlington Stores has reaffirmed its Q4 guidance, expecting total sales to rise by 5%-7%. Comparable store sales are projected to range from -2% to 0%, while adjusted EPS, excluding expenses, is forecasted to be between $3.10 and $3.25.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:57 am

MDT

Medtronic has raised its FY24 organic revenue growth guidance from 4.5% to 4.75%, signaling confidence in its growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:50 am

BURL

Burlington Stores reported a significant increase in Q3 adjusted earnings per share (EPS) to $1.10, up 155.81% from $0.43 YoY. Sales also rose to $2.29B, a 12.15% increase from $2.04B YoY.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:47 am

GLNG

Golar LNG (NASDAQ:GLNG) reported Q3 sales of $67.25M, missing the consensus estimate of $73.81M by 8.88% and marking a 1.73% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:34 am

TCOM

Trip.com Group Ltd (NASDAQ:TCOM) reported a 99% Y/Y increase in Q3 FY23 revenues, reaching RMB13.7 billion, driven by a strong recovery in the travel market. Accommodation reservations rose 92% Y/Y, transportation ticketing increased 105% Y/Y, and packaged-tour revenue jumped 243% Y/Y. Domestic hotel bookings grew 90% Y/Y, and outbound hotel and air reservations recovered to around 80% of pre-COVID levels. Adjusted EBITDA was RMB4.6 billion with a 34% margin, and adjusted EPS per ADS was RMB7.26. In USD, revenue was $1.885 billion, and adjusted earnings per ADS were $1.00. The company also repurchased 3.6 million ADSs for $120 million. Despite the positive report, TCOM shares are down 3.27% in premarket trading.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 11:20 am