Here's a SIGMA review of every retailer that reported earnings this week. As a reminder, the analysis triangulates sales, inventories and margins. The vertical axis is the spread between sales and inventories -- the higher on the scale, the better. The horizontal axis is the y/y change in EBIT margin. In effect, you want to be either in the upper right hand quadrant, or headed there. The opposite holds true for the lower left.
There are 16 charts in total. The group overall carried on the trends we started to see with department stores last week, where inventory positions are improving across the board. The exception report had been made up of the winners that stood out amongst the list of dogs. But this time, we're seeing the opposite. Target, Dollar Tree ,Sears, Staples and Hibbett are leading the charge for those that are tuning the wrong way. No major surprises there. URBN and GPS are two of the more notable positive turns to us.
DICK'S SPORTING GOODS
HD - The Home Depot Names Craig Menear CEO, Effective November 1, 2014
- "The Home Depot®, the world's largest home improvement retailer, announced that Craig Menear, currently president, U.S. retail, has been named CEO and president, effective November 1, 2014, and has been elected to the company's board of directors, effectively immediately. Current chairman and CEO Frank Blake will remain chairman."
DG, FDO, DLTR - Family Dollar Board of Directors Rejects Proposal from Dollar General Based on Antitrust Issues
- "Family Dollar Stores, Inc. announced today that its Board of Directors has unanimously rejected the non-binding proposal made by Dollar General Corporation on the basis of antitrust regulatory considerations. In addition, the Family Dollar Board unanimously reaffirmed its recommendation in support of the merger agreement with Dollar Tree, Inc."
UPS - UPS confirms malware breach at 51 stores
- "UPS Stores, a subsidiary of United Parcel Service, said that a security breach may have led to the theft of customer credit and debit data at 51 UPS stores in the United States."
- "In a statement, the company said that customers who had used their debit or credit cards at affected locations (which are listed on the UPS site) from Jan. 20 to Aug. 11 may have been exposed to the malware. However, the company noted, exposure began after March 26 in most cases."
LUX - Luxottica to Discuss CEO's Possible Departure at Next Board Meeting
- "The world's largest eyewear maker, Luxottica Group SpA, said Thursday that it will discuss the possible departure of Chief Executive Andrea Guerra at its next board meeting."
BRBY - Burberry chief executive sells more than £5m of luxury brand's shares
- "Burberry chief executive Christopher Bailey has sold £5.2m of shares in the luxury fashion company, four months after taking over from predecessor Angela Ahrendts."
- "Bailey has offloaded 68,667 shares and nearly three quarters of two sets of performance related shares granted in 2011 and 2009 when he was the company's chief creative officer and which recently vested. It is understood that nearly half of the shares granted under the performance related schemes were sold to cover taxes. Of the remainder, half were retained and half were cashed out."
DDS - Dillard's Announces CFO Departure
- "On August 22, 2014, Dillard’s, Inc. announced that James I. Freeman, Senior Vice President and Chief Financial Officer of the Company and a director, informed the Board of Directors of his intent to retire as an executive officer of the Company effective February 1, 2015. Mr. Freeman will remain on the Board of Directors."