Wall Street seems to rest on its oars as earnings season winds down with a small flurry of earnings reports this week. Retail stocks continue to dominate the earnings proceedings, with quarterly results from Pacific Sunwear of California, TJX Companies, Home Depot, and most importantly Target due out in the unfolding week.
Retail earnings released thus far in the reporting season showed strength and promise, as an improving global economy, benevolent fiscal stimulus measures and aggressive pricing action propelled individual's purchasing power. Though overall retail spending in the U.S. dropped 1.5% in September, discretionary spending on food & beverages grew 0.7%, with demand for clothing & clothing accessories rising 0.5% in September, the U.S. Census Bureau reported.
November 16
Teen-clothing retailer Pacific Sunwear of California Inc. (PSUN) expects to incur a third-quarter loss between $0.16 and $0.13 per share, assuming a same-store sales percentage decline in the high-teens to low twenties, and assuming non-cash, pre-tax store asset impairment charges of about $10 million. In the year-ago period, the company posted a loss of $0.05 per share and net sales of $323.6 million. Analysts polled by Thomson Reuters expect the company to post a loss of $0.20 per share on revenues of $260.08 million for the third quarter. The quarterly results are scheduled to be released at 4:00 pm ET Monday.
For solar products maker ReneSola Ltd.'s (SOL) third quarter, the consensus forecast is for a loss of $0.07 per share and revenues of $136.82 million. In mid-September, the company said it projects third quarter revenue in the range of $130 million - $140 million versus a 60% - 70% sequential increase announced earlier. Third-quarter results are slated to be announced before the market opens Monday. The company earned $0.23 per share on net revenues of $215.8 million in the prior-year period.
For fiscal 2009, ReneSola expects revenue to range between $470 million and $500 million, compared to its prior outlook range of $500 million - $550 million. Six analysts polled by Thomson Reuters currently expect the company to report revenue of $478.03 million for fiscal 2009. ReneSola maintained its prior product shipment outlook for 2009 of 450 MW - 500 MW.
Home improvement retailer Lowe's Companies Inc. (LOW) is slated to report its third-quarter results on November 13, with analysts projecting earnings of $0.24 per share on revenues of $11.28 billion. While releasing second-quarter numbers, the company said it expects third-quarter earnings to range between $0.21 and $0.25 per share. Third-quarter sales are estimated to decline 2% - 5%, while comparable sales are projected to drop 6% - 10%.
Lowe's, in mid-September, reiterated its earnings and sales guidance for fiscal year ending January 29, 2010, expecting earnings in a range of $1.13 - $1.21 per share. Total sales are expected to decline about 3% from the previous year, while comparable store sales are estimated to decrease 7% - 9%.
Specialty financial services company Assured Guaranty (AGO), clinical trials manager Encorium Group Inc. (ENCO), software solutions and IT service provider Longtop Financial Technologies Ltd. (LFT) are also slated to report their quarterly results Monday.
November 17
Home Depot Inc. (HD), the world's largest home improvement retailer, is set to publish its third-quarter results before the market opens Tuesday, as analysts are projecting earnings of $0.36 per share on revenues of $16.27 billion. In the year-earlier quarter, the company reported earnings of $0.45 per share and sales of $17.8 billion. While reporting second-quarter numbers, the company lifted its fiscal 2009 outlook of earnings per share from continuing operations to a range of flat to up 7% from last year, versus its earlier guidance of flat to down 7% from last year. Adjusted earnings per share from continuing operations for 2009 are now projected to decline by 15% - 20%, versus prior forecast of 20% - 26% decline. Home Depot also confirmed that it believes fiscal 2009 sales to be down about 9% from the prior year.
Design software maker Autodesk Inc. (ADSK) expects third-quarter GAAP earnings to range between $0.04 and $0.09 per share and non-GAAP earnings of $0.18 - $0.23 per share, with revenues in a range of $400 million - $420 million. The third-quarter results are set to be reported after the market closes Tuesday, with analysts forecasting earnings of $0.23 per share on revenues of $415.33 million. In the year-ago period, the company earned $0.56 per share on non-GAAP basis and revenue of $607 million. For fiscal 2009, Autodesk now expects nearly $300 million in pre-tax cost savings versus prior year.
Jacobs Engineering Group Inc. (JEC), a provider of technical, professional, and construction services, will issue forth its fourth-quarter results before the market opens Tuesday, as analysts are looking for earnings of $0.68 per share and revenues $2.64 billion. This compares to the prior-year's earnings of $0.92 per share and revenues of $3.19 billion. While releasing third-quarter figures, the company narrowed its fiscal 2009 earnings guidance to a range of $3.10 - $3.35 per share, from its prior outlook range of $3.10 - $3.50 per share. Twenty one Street analysts expect the company to report earnings of $3.25 per share for fiscal 2009.
Customer relationship management and services provider Salesforce.com Inc. (CRM) is scheduled to publish third-quarter results after the market closes Tuesday. The company projects third-quarter earnings to range between $0.15 and $0.16 per share and revenue in the range of $323 million - $324 million, while analysts forecast earnings of $0.16 per share on revenues of $324.20 million. In the year-ago quarter, the company earned $0.08 per share on revenues of $276 million. Early in August, Salesforce boosted its fiscal 2010 forecast, now expecting earnings in the range of $0.60 - $0.61 per share, and revenue between $1.27 billion and $1.28 billion, up from the prior forecast range of $0.59 - $0.60 per share, and revenue of $1.25 billion - $1.27 billion.
Analysts expects discount-store retailer Target Corp. (TGT) to report third-quarter earnings of $0.50 per share. The results are slated to be issued before the market opens on November 17. While announcing October monthly sales, the company reported third-quarter total sales of $14.79 billion, up 1.4% from last year. In the prior-year period, the company reported earnings of $0.49 per share and sales of $14.6 billion.
Off-price retailer TJX Companies Inc. (TJX) recently revised its third-quarter outlook expecting earnings from continuing operations to be at or slightly above its recently raised earnings view of $0.77 - $0.79 per share. Previously, the company projected earnings between $0.71 and $0.74 per share. For the third quarter, analysts are expecting earnings of $0.80 per share on revenues of $5.25 billion. This compares to the prior-year's adjusted earnings of $0.54 per share and net sales of $4.8 billion. The results are slated to be issued before the market opens Tuesday.
Solar module products maker Canadian Solar Inc. (CSIQ), healthcare products firm Covidien Plc (COV), luxury retailer Saks Inc. (SKS) will be among others to issue earnings reports Tuesday.
November 18
Specialty retailer Limited Brands Inc. (LTD), which reported third-quarter net sales of $1.78 billion, down from the prior-year's $1.84 billion, will publish financial results for its third quarter after the market closes Wednesday. On October 26, the company raised its third quarter earnings outlook, and said it now expects third quarter results to range between breakeven and a loss of $0.04 per share, compared to its prior expectations of a loss of $0.07 - $0.12 per share. Analysts are projecting a loss of $0.01 per share. The company earned $0.01 per share on net sales of $1.84 billion in the year-ago period.
Analysts expect data storage equipment maker NetApp Inc. (NTAP) to report second-quarter earnings of $0.30 per share on revenues of $880.30 million. The results are scheduled to be released after the market closes Wednesday. The company posted non-GAAP earnings of $0.28 per share and revenues of $912 million in the year-earlier period. In mid-August, NetApp said it expects second-quarter non-GAAP gross margins of 62.5% - 63.0%, and non-GAAP other income to remain at similar levels to those reported in the first quarter. NetApp estimates non-GAAP operating expense levels for the second quarter of fiscal year 2010 to be in a range around $425 million.
Warehouse chain BJ's Wholesale Club (BJ), women's specialty retailer Chico's FAS (CHS), mall- and web-based specialty retailer Hot Topic (HOTT), apparel maker Phillips-Van Heusen (PVH) are also set to report their quarterly results Wednesday.
November 19
Analysts surveyed by Thomson Reuters are optimistic about Gap Inc. (GPS), a specialty retailer. The company's third-quarter earnings are expected to be $0.44 per share. The results are set to be released at 4:30 pm ET Thursday. Most recently, Gap reported third-quarter net sales of $3.59 billion, up 1% from $3.56 billion a year ago. The company earned $0.35 per share in the year-ago period.
Business and financial management solutions provider Intuit Inc. (INTU), scheduled to report after the market closes Thursday, is expected to incur a loss of $0.16 per share on revenues of $487.69 million for the first quarter, according to consensus estimates of analysts polled by Thomson Reuters. The company reported a non-GAAP loss of $0.09 a share on revenue of $481 million in the year-earlier quarter. In mid-September, the company said it continues to expect a GAAP net loss of $0.28 - $0.24 per share for the first quarter of 2010. Non-GAAP net loss for the quarter is still expected to be in the range of $0.19 - $0.15 per share. Intuit also continues to anticipate first-quarter GAAP operating loss to be between $126 million and $107 million and non-GAAP operating loss in the range of $79 million - $60 million.
For fiscal 2010, Intuit reaffirmed its GAAP earnings outlook in a range of $1.49 - $1.56 per share, and non-GAAP earnings for the year is still expected to be in the range of $1.89 per share - $1.96 per share. The company also continues to expect full-year GAAP operating income between $785 million and $825 million, and non-GAAP operating income in the range of $985 million - $1.025 billion.
Dental and veterinary products distributor Patterson Companies Inc. (PDCO) is scheduled to publish its second-quarter results before the market opens Thursday, with analysts expecting earnings of $0.41 per share on revenues of $788.52 million. This compares to the previous year's earnings of $0.40 per share and sales of $759.5 million. While releasing first-quarter numbers, Patterson reaffirmed its fiscal 2010 earnings guidance of $1.70 - $1.80 per share. Analysts expect the company to report earnings of $1.76 per share, with estimates ranging between $1.72 and $1.78 per share for the full year.
Broad-line retailer Sears Holdings Corp. (SHLD) is set to report third-quarter results before the market opens Thursday, as analysts are forecasting a loss of $1.09 per share on revenues of $9.89 billion. The company posted earnings before items of $0.90 per share on total sales of $10.7 billion for the third quarter of the previous year. In mid-August, Sears Holdings said it expects to record an additional charge of about $5 million during the second half of 2009 as the stores it decided to close in the second quarter complete operations.
Other companies scheduled to release quarterly results on Thursday includes wireless LANs and secure mobility solutions provider Aruba Networks Inc. (ARUN), athletic footwear and apparel retailer Foot Locker Inc. (FL), contract drilling company Helmerich & Payne Inc. (HP), electricity and gas company National Grid (NGG), off-price retail chain Ross Stores Inc. (ROST), professional beauty supplies retailer Sally Beauty Co. (SBH), solar energy company Suntech Power Holdings Co. Ltd. (STP), casual apparel retailer Buckle (BKE), specialty retailer Wet Seal Inc. (WTSLA), solar photovoltaic products maker Trina Solar Ltd. (TSL).
November 20
The largest U.S. homebuilder D.R. Horton Inc. (DHI) is slated to release its fourth-quarter results before the market opens Friday, as analysts are expecting the company to report a loss of $0.24 per share on revenues of $1.10 billion. In the year-ago period, the company reported a loss of $2.53 per share and revenues of $1.75 billion.
Food products maker J. M. Smucker Co. (SJM) is slated to publish its second-quarter results before the market opens Friday, as analysts are looking for earnings of $1.04 per share on revenues of $1.24 billion. In the prior-year quarter, the company earned $0.94 per share on net sales of $843.1 million. While releasing first quarter results, J.M. Smucker reaffirmed its fiscal 2010 outlook, still expecting income, excluding merger and integration costs of $0.17 - $0.19 per share, to range between $3.65 and $3.80 per share, with net sales of about $4.5 billion.
Women's specialty retailer AnnTaylor Stores (ANN), home accessories retailer Kirkland's Inc. (KIRK) will also issue forth their earnings results Friday.
Stay tuned to RTTNews for more updates on companies' quarterly performances that could mirror the glimmer of hope seen in the global market.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.