A lot of niche retailers reported earnings today — here’s how they fared:
Best Buy ($BBY) | EPS: $1.57 vs. $1.61 expected | Revenue: $10.65 billion vs. $10.41 billion expected | Link to Report
Best Buy reported Q1 earnings today and the company’s stock closed up 1.21%. 💚 Best Buy’s sales declined by 8% compared to Q1 2021, though Wall Street expected a more dramatic fall in sales due to economic conditions. $BBY CEO Corie Barry shared his thoughts on the company’s lower sales figs: “That trend has continued into the beginning of Q2 and it does not appear that it will abate in the near term.” Despite lower sales, Best Buy says that it does not anticipate a full-scale recession.
Petco Health & Wealness ($WOOF) | EPS: $0.17 vs. $0.15 expected | Revenue: $1.48 billion vs. $1.46 billion expected | Link to Report
Petco shares closed the day up 3.7% and continued to rise higher after hours. 🐶 The company posted a +4.3% YoY gain in revenue and +5.1% YoY growth in comparable store sales.
AutoZone ($AZO) | EPS: $29.03 vs. $26.40 expected | Revenue: $3.87 billion vs. $3.71 billion expected | Link to Report
Autozone shares rose 5.82%. The company posted a +5.9% YoY gain in revenue and +2.6% YoY growth in comparable store sales.
Nordstrom ($JWN) | EPS: ($0.06) vs. ($0.05) expected | Revenue: $3.57 billion vs. $3.28 billion expected | Link to Report
Nordstrom shares rallied 10.45% after hours after the company beat expectations and raised its financial outlook for the full year.
CEO Erik Nordstrom said the company has been able to capitalize on demand from people who are shopping for “long-awaited occasions” that were delayed by the pandemic. Also, CFO Anne Bramman noted that the company hasn’t seen inflationary cost pressures result in lower consumer spending just yet.
These comments contrast what we’ve heard from Target and Walmart, whose customers tend to have a lower income profile and thus may be less resilient to the macroeconomic factors hitting the economy right now. 💡
Urban Outfitters ($URBN) | EPS: $0.33 vs. $0.42 expected | Revenue: $1.05 billion vs. $1.068 billion expected | Link to Report
After hours, the stock rallied 4.28%, erasing nearly two-thirds of its regular session loss.
Finally, some Tech names worth noting: 🤖
Intuit ($INTU) | EPS: $7.65 vs. $7.58 expected | Revenue: $5.6 billion vs. $5.51 billion expected | Link to Report
Shares were only up about 2.75% after hours despite the company raising full-year revenue and operating income guidance.
NetEase ($NTES) | EPS: CN¥ 7.08 vs. CN¥ 7.03 expected | Revenue: CN¥ 23.56 billion vs. CN¥ 23.12 billion expected | Link to Report
Want more EPS?? Check out Stocktwits’ earnings calendar! 📅