EVENTS TO WATCH OVER THE NEXT 24 HOURS
COST - Earnings Call: Wednesday 12/11 11:00 am
LULU - Earnings Call: Thursday 12/12 9:00 am
MW - Earnings Call: Thursday 12/12 9:00 am
China’s Retail Sales Accelerate as Factory Output Slows
- "China’s retail sales unexpectedly accelerated in November while industrial output rose less than estimated, giving a mixed picture of growth as leaders gather in Beijing to set economic policies for the coming year."
- "Factory production rose 10 percent from a year earlier, the National Bureau of Statistics said in Beijing yesterday, compared with analysts’ median projection of 10.1 percent in a Bloomberg survey. Retail sales advanced 13.7 percent"
HD - The Home Depot Updates Strategic Priorities; Confirms Fiscal Year 2013 Sales And Diluted Earnings Per Share Guidance; Provides Fiscal Year 2014 Financial Outlook And Updates 2015 Financial Targets
- "The Company reaffirmed its sales and diluted earnings-per-share guidance for fiscal 2013. The Company expects sales to be up approximately 5.6 percent for the year and diluted earnings-per- share to be up approximately 24 percent to $3.72 for the year. Comparable store sales, on a 52-week like for like basis, are expected to be up approximately 7.0 percent for the year. The Company's fiscal 2013 sales and diluted earnings-per-share guidance is based on a 52-week year compared to fiscal 2012, a 53-week year."
DTLR - DTLR Scraps Plans for IPO
- "DTLR Holding, Inc. announced that due to a unspecified 'business development' the company has determined to not proceed with its planned initial public offering."
- "The company declined to comment beyond its one-sentence statement."
ADS - Reebok Opens First Fithub in Paris
- "Like the Reebok flagship opened a year ago in New York on 5th Avenue, Reebok is opening its first concept store (Fithub) and CrossFit Box at 31 Avenue de l'Opera, its first Fithub in Paris. The combined store and gym measures 8,600 square feet."
JWN - Jeffrey Kalinsky Shifting Role at Nordstrom
- "Jeffrey Kalinsky is taking a step back at Nordstrom Inc., where he has been executive vice president of designer merchandising for the last eight-and-a-half years."
- "Kalinsky, who wants to flex his creative muscles, is planning to focus part of his time on projects outside Nordstrom. He’ll also continue to operate his two namesake stores, Jeffrey New York and Jeffrey in Atlanta, which Nordstrom bought in 2005, naming Kalinsky director of designer merchandising while he remained president and chief executive officer of Jeffrey Inc."
Moncler - Moncler Said Likely to Price IPO at Top of Range on High Demand
- "Moncler...plans to price its initial public offering at 10.20 euros a share, the top of an indicated range, according to two people familiar with the transaction."
- "The sale was fully covered on the first day of the offer, said the people, who asked not to be named because the details aren’t public. The order book closes today and is more than 20 times subscribed, one person said."
RSH - RadioShack Closes New Five-Year Financing Totaling $835 Million
- "RadioShack Corporation announced today that it has completed a new financing totaling $835 million including a $585 million senior secured ABL credit facility led by GE Capital, Corporate Retail Finance and a $250 million secured term loan led by Salus Capital Partners, LLC. This comprehensive new financing will be used to refinance existing debt and provide approximately $200 million of incremental liquidity, all of which will further strengthen the Company's balance sheet as it continues to move forward with its operational turnaround."
- "The new $250 million secured term loan was led by Salus Capital. The terms of this loan include a five-year duration and a rate of LIBOR plus 11%. This term loan was drawn and funded at closing and is secured by a second lien on the assets securing the new ABL credit facility and a first lien on certain other assets of the Company."
Facebook Ranks as Top Platform in Social Media Survey
- "When it comes to product and service recommendations, Facebook scored highest as the most trusted platform, according to a new survey conducted by Social Media Link, an advocacy activation company.
- The survey found that 68 percent said they trusted Facebook over blogs (63 percent); retail Web sites (63 percent); Pinterest (56 percent); YouTube (51 percent); Twitter (41 percent), and Google+ (41 percent)."
- "According to the study, reviews by friends and family have the biggest impact (86 percent), followed by professionals (58 percent); Web site reviews (54 percent); acquaintances (42 percent); bloggers (39 percent), and celebrities (11 percent)."