Industry: Aggregate Weekly Visits slowed in this week’s update from -3.5% YY to -5.7% YY. 5Wk avg slightly accelerated from -6.4% to -5.5%, but 2Yr and 3Yr trends both slowed. Redbook Retail Comp Sales came in significantly lower than last week, slowing from +6.1% to +2.5% YY and on a 2Yr Avg from +5.2% to +3.7%. Retail Sales also come out today, missing consensus estimates and slowing significantly. U.S. Retail Ex. Food, Gas, & Auto slowed from +5.2% to +1.1% with the 2Yr also slowing, while other categories like Electronics, Furniture, and Auto all saw major slowdowns as well.
- Notable Industry Callouts: Every category slowed this week except for Hobbies, Gifts, & Crafts and Department Stores
Companies: Numbers below = YoY Rate of Change from week to week
- Notable Accelerations: Kohl’s +19%
- Notable Decelerations: MarineMax -17%, Lovesac -16%, Kay Jewelers -15%, Jared -15%, Bloomindale’s Outlet -15%, Anthro -14%, Aritzia -14%, Bath & Body Works -12%, Big Lots -12%, Pottery Barn -12%, Old Navy -11%, DSW -11%,
Earnings Look Ahead:
- Driven Brands (DRVN—Best Idea Long). Consensus Sales Estimate: +6%
- Floor & Decor (FND—Best Idea Short). Consensus Sales Estimate: -3.7%
- Lowe’s (LOW—Best Idea Short). Consensus Sales Estimate: -18.1%
- Macy’s (M). Consensus Sales Estimate: -2.2%
- Ross Stores (ROST). Consensus Sales Estimate: +10.4%
- Puma (PUM-DE—Short Bias). Consensus Sales Estimate: -6%
- Autozone (AZO). Consensus Sales Estimate: +4.3%
Chart List:
- Industry
- Companies
Source: Placer.ai
