All eyes are on the retailers this week as many are set to report quarterly results, starting from tomorrow. Here’s a summary of what you can expect from these six notable retailers, according to foot traffic analytics firm Placer.ai.
TJX Companies
- TJX Companies Inc (NYSE: TJX) is the off-price retail leader and parent company of T.J. Maxx, Marshalls and HomeGoods.
- TJX Companies will report second-quarter results Wednesday morning.
- According to Placer.ai, July visits at T.J. Maxx and Marshalls were up 17.2% and 21.1% versus 2019 levels.
- By comparison, the apparel sector grew visits at an average of 3.8%.
- Return customer visits were up 10% at T.J. Maxx and 5.2% at Marshalls between May and July.
Macy’s Inc
- Macy’s Inc (NYSE: M) operates a chain of department stores under its core Macy’s brand and Bloomingdale’s.
- Macy’s will report second quarter results Thursday morning. its earnings report for the fiscal second quarter on Thursday, before the bell.
- According to Placer.ai, visits to Macy’s stores were down 5.7% last month compared to 2019.
- This marks a significant improvement from March when visits were down 32% compared to pre-pandemic levels.
- However, visit durations were still down roughly 16% in July versus the same month of 2019.
Kohl’s Corp
- Kohl’s Corp (NYSE: KSS) is the largest department store retail chain in the United States.
- Kohl’s is scheduled to report second quarter results Thursday morning.
- Similar to competitors, Kohl’s foot traffic in July recovered to about 94% of the levels seen before the pandemic in July 2019.
- In March, visits to Kohl’s stores were still down 16% from 2019 equivalents.
- Visit duration is still 13% lower than July 2019, according to Placer.ai.
Ross Stores
- Ross Stores Inc (NASDAQ: ROST) is a discount department store and a chief rival to TJX.
- Ross Stores will announce second quarter results Thursday afternoon.
- According to Placer.ai, foot traffic last month at Ross Stores topped levels seen in July 2019 by 11.3%.
- Compared to 2019 equivalents, loyal customers were up 5.4% between May and July. These are the customers that visited stores at least twice during the three-month period.
Dick’s Sporting Goods
- Dick’s Sporting Goods Inc (NYSE: DKS) is the largest sports goods retailer in the United States.
- Dick’s will report its results for the fiscal second quarter on Wednesday morning.
- According to Placer.ai, visits to Dick’s stores were up 13.1% in July compared to the 2019 equivalent.
- Except for February, foot traffic at Dick’s stores has topped levels seen before the pandemic in 2019 by at least 4%.
Burlington Stores
- Burlington Stores Inc (NYSE: BURL) is another off-price department store retailer.
- Burlington Stores is set to post second quarter results Thursday morning.
- According to Placer.ai, foot traffic has recovered completely from pandemic levels, with July visits up 23.7% compared to 2019.
- The number of loyal customers rose 23.7% between May and July versus the same stretch in 2019.
The post What to expect from earnings season as these 6 retailers are scheduled to report appeared first on Invezz.
from USA – Invezz https://ift.tt/2VRLTnB
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments