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Millennials’ Lust for Makeup Is the Lipstick on Retail’s Pig
Young shoppers influenced by videos and social media are spending their money on eye shadow and lipstick, and brands like Ulta and Sephora are thriving.
BRIEF-Bloomin' Brands says to consider "perspectives" in Jana Partners' SEC filing
Bloomin' Brands Inc(BLMN): * Confirmed that Jana Partners Llc has filed a schedule 13D with Securities and Exchange Commission. * Board, management "will consider the perspectives" reflected in schedule 13d filed by Jana Partners Llc Source text for Eikon: Further company coverage:
Hormel Foods beats profit and sales expectations
Shares of Hormel Foods Corp. were indicated up over 1% in premarket trade Tuesday, after the branded food company, which brands include Skippy, Hormel and Spam, beat fiscal fourth-quarter profit and revenue expectations. Net income for the quarter to Oct. 29 fell to $218.2 million, or 41 cents a share, from $243.9 million, or 45 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 40 cents. Revenue declined to $2.49 billion from $2.63 billion, but was above the FactSet consensus of $2.42 billion. Refrigerated foods revenue fell 5.7% to $1.17 billion, just shy of the FactSet consensus of $1.18 billion, while grocery products revenue declined 0.5% to $489.2 million, but beat expectations of $429.3 million. Jennie-O Turkey Store sales declined 10.4% to $484.9 million, beating the FactSet consensus of $408.4 million. The company said it has merged its grocery products business with its specialty foods business. Looking ahead, Hormel expects 2018 EPS of $1.60 to $1.70, which surrounds expectations of $1.63, and revenue of $9.40 billion to $9.80 billion, compared with the FactSet consensus of $9.65 billion. The stock has lost 4.1% year to date through Monday, while the S&P 500 has gained 15%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shares of Outback Steakhouse parent surge after Jana discloses large stake
Activist investor may push for changes, including sale. Shares of Outback Steakhouse owner Bloomin' Brands (BLMN) shot up on Monday after activist hedge fund Jana Partners LLC disclosed a large stake and plans to push for change, including a possible sale. The stock surged 12% to close Monday at $20.54, its biggest one-day gain in nearly four years.
Urban Outfitters shares jump 10% on record sales for retailer
Shares of Urban Outfitters Inc. jumped more than 10% late Monday after the parent company of Anthropologie and other retail brands reported third-quarter sales and earnings above Wall Street expectations. Urban Outfitters said it earned $45 million, or 41 cents a share, in the quarter, compared with $47 million, or 40 cents a share, in the year-ago period. Sales were up 3.5% to $893 million, compared with $862 million a year ago, and a record for the company, Urban Outfitters said. Analysts polled by FactSet had expected per-share earnings of 33 cents a share on sales of $861 million. Comparable-store sales, which include the comparable direct-to-consumer channel, rose 1%. The analysts surveyed by FactSet had expected a decline in same-store sales of 2.2%. "Comparable Retail segment sales were driven by strong, double-digit growth in the direct-to-consumer channel, partially offset by negative retail store sales," the company said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Abercrombie & Fitch beat the unseasonably warm weather with clothes that can be layered
Abercrombie& Fitch shares soar more than 24% after earnings and sales beat. While many retail brands have lamented the unseasonably warm temperatures that hurt quarterly results, there wasn't a mention of the weather at Abercrombie& Fitch Inc. where selling merchandise that can be layered triumphed over Mother Nature. Abercrombie& Fitch, which has been in the midst of a turnaround at the namesake brand, reported better-than- expected third-quarter results, with adjusted...
L Brands Just Can’t Seem to Win With Earnings
L Brands shares down 3.5% after earnings as same-store sales fall
Shares of L Brands Inc. fell 3.5% late Wednesday after the parent company of Victoria's Secret and Bath & Body Works reported third-quarter earnings in line with expectations but falling comparable-store sales, including a 4% decline at flagship Victoria's Secret brand in the quarter. L Brands said it earned $86 million, or 30 cents a share, in the quarter, compared with $122 million, or 42 cents a share, in the year-ago period. Sales reached $2.62 billion for the quarter, compared with $2.58 billion a year ago. The company's exit of the swim and apparel categories had a negative impact of about 2 percentage points to both total company and Victoria's Secret comparable sales, it said. Analysts polled by FactSet had expected earnings of 30 cents a share on sales of $2.62 billion. The company said it expects fourth-quarter per-share earnings between $1.95 and $2.10, and between $3.05 to $3.20 for the full year 2017. The analysts surveyed by FactSet expect fourth-quarter earnings of $2.02 a share and EPS of $3.12 for the year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Bill Ackman's Pershing Square builds up major stake in ADP
Bill Ackman's Pershing Square Capital Management built up its position in Automatic Data Processing Inc. to 8.8 million shares at the end of September from 179,394 three months earlier as part of Ackman's failed proxy battle. Earlier this month, shareholders of ADP sided with the management and rejected the hedge-fund manager's attempt to secure three seats on the board. Pershing, however, trimmed its stake in Restaurant Brands International to 26.5 million shares versus 39.2 million at the end of June and cut its holding in Mondelez International Inc. to 13.93 million versus 14.5 million shares previously. The hedge fund's positions in other companies, including Chipotle Mexican Grill Inc. , were mostly unchanged. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Differential Brands qtrly loss per common share $0.01
Differential Brands Group Inc(DFBG): * Differential Brands(DFBG) reports third quarter 2017 results. * Q3 sales rose 3 percent to $42.4 million. * Differential Brands Group Inc (DFBG) qtrly consumer direct sales grew 5% and comparable store sales growth of 6%. * Differential Brands Group Inc (DFBG) qtrly loss per common share $0.01 Source text for Eikon: Further company coverage:
Wal-Mart to sell Lord & Taylor goods on Walmart.com
Wal-Mart Stores Inc. said late Monday that department store Lord & Taylor will sell its goods on Walmart.com next year. The online store is expected to launch in spring of 2018, and "will introduce a specialized online experience offering premium fashion brands directly from the Lord & Taylor flagship," Wal-Mart said. The goal is to create "a premium fashion destination on Walmart.com," as more customers on the company's site are searching for higher-end items, said Denise Incandela, head of fashion at Walmart U.S. eCommerce, in a press release. Lord & Taylor is owned by Canadian retailer HBC , which also owns Hudson's Bay and Saks Fifth Avenue stores. Wal-Mart shares rose 0.3% in after-hours trading after ending the regular session up 0.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Tyson shares rise after earnings and sales beat
Tyson Foods Inc. shares rose 3.9% in Monday premarket trading after the company reported fourth-quarter earnings and sales beat estimates. Net income totaled $394.0 million, or $1.07 per share, up from $391.0 million, or $1.03 per share, for the same period last year. Adjusted EPS was $1.43, beating the $1.35 FactSet consensus. Revenue was $10.1 billion, up from $9.2 billion last year and beating the $9.9 billion FactSet estimate. Tyson brands include Jimmy Dean, Hillshire Farm, Ball Park and its namesake. The company began to divest itself of non-protein businesses during the quarter, part of an effort to focus on protein brands. And the company is integrating AdvancePierre Foods, a recent acquisition, that will provide manufacturing capabilities for sandwiches and prepared foods and increase Tyson's presence at convenience stores, according to a statement from Chief Executive Tom Hayes. The company expects $200 million in savings in fiscal 2018, fiscal year capital expenditures of $1.4 billion, and doesn't plan to repurchase shares until it a net debt of around twice EBITDA (earnings before interest, taxes, depreciation and amortization). Tyson shares are up 13.1% for the last three months, and up 20.2% for the year so far. The S&P 500 index is up 15.3% for 2017 to date.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
3 Things to Watch When Target Reports Q3 2017 Results
Store traffic, digital sales, and new exclusive brands will all feature prominently.
BRIEF-Xcel Brands posts Q3 adj. earnings per share $0.20
Xcel Brands Inc(XELB). * Xcel brands announces third quarter 2017 financial results. * Q3 GAAP earnings per share $0.01. * Q3 revenue fell 5 percent to $7.9 million. * Q3 adjusted non-GAAP earnings per share $0.09 Source text for Eikon: Further company coverage:
BRIEF-DUNKIN' DONUTS ANNOUNCES FOUR NEW RESTAURANTS IN EXPANSION PLAN FOR RALEIGH, NC
Dunkin' Donuts: * DUNKIN' DONUTS ANNOUNCES FOUR NEW RESTAURANTS IN EXPANSION PLAN FOR RALEIGH, NORTH CAROLINA WITH EXISTING FRANCHISEE AWALE NETWORKS, INC. * DUNKIN' BRANDS GROUP INC (DNKN) - FIRST RESTAURANT UNDER MULTI-UNIT STORE DEVELOPMENT AGREEMENT IS PLANNED TO OPEN IN 2018 Source text for Eikon: Further company coverage:
BRIEF-L Brands reports October 2017 sales
L Brands Inc(LB). * L Brands(LB) reports October 2017 sales; updates third quarter earnings guidance and reiterates 2017 earnings guidance. * October sales rose 5 percent to $794.1 million. * Quarterly sales rose 1 percent to $2.618 billion. * October same store sales rose 2 percent.
Luxury auto brands are scrambling to avoid a blue Christmas
DETROIT (Reuters) - When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating.
Luxury auto brands are scrambling to avoid a Blue U.S. Christmas
DETROIT, Nov 1 (Reuters) - When financial markets surge to
new records, sales of luxury cars usually rise, too. Instead,
October U.S. auto sales reports on Wednesday showed that a
collapse in sales of luxury sedans is accelerating.
Estee Lauder shares hit record high on millennial boost
The make-up firm reports growing sales, helped by brands favoured by selfie-loving younger customers.
Oreo maker Mondelez's results beat on gains from Europe, Latin America
(Reuters) - Mondelez International Inc beat Wall Street's profit and revenue estimates in the third quarter as demand for its key brands such as Oreo cookies and Trident gum rose in Europe and Latin America and the company cut costs.
Oreo maker Mondelez's revenue rises 2 pct
Oct 30 (Reuters) - Mondelez International Inc on
Monday reported a 2.1 pct rise in net revenue in the third
quarter as demand for key brands such as Oreos and Trident gum
rose in Latin America and Europe.
UPDATE 4-Constellation hedges bets on pot boom with Canopy stake
Oct 30 (Reuters) - Constellation Brands Inc has
bought a nearly 10 percent stake in Canadian cannabis maker
Canopy Growth Corp for about C$245 million ($191
million), the first major wine, beer and spirits producer to
invest in legal cannabis.
BRIEF-Restaurant brands reports Q3 diluted EPS of $0.37
Restaurant Brands International Inc(QSR). * Restaurant Brands International Inc(QSR) reports third quarter 2017 results.
NAACP: Most complaints about American Airlines. What can brands learn?
Alleged discriminatory episodes on American Airlines that resulted in a NAACP travel advisory could jeopardize a fast-growing market for businesses
Coca-Cola looks to expand new, small brands and booze mixers
Coca-Cola profit rise 38 percent, on higher Sprite demand
Coca-Cola looks to expand new, small brands and booze mixers
Coca-Cola Co. (KO) on Wednesday reported third-quarter earnings of $1.45 billion.
BRIEF-Dunkin' Brands completes securitization refinancing
Dunkin' Brands Group Inc(DNKN). * Dunkin' Brands(DNKN) completes securitization refinancing. * Dunkin' Brands Group-2017 notes also include new $150 million variable funding note facility, which replaces company's existing variable funding note facility Source text for Eikon: Further company coverage:
Whirlpool to stop selling big-name brands at Sears
(Reuters) - Whirlpool Corp said on Tuesday it would continue to supply several of its products to Sears Holdings Corp and discontinue only the supply of brands including Maytag fridges, KitchenAid products and Jenn-Air appliances.
Vans sneakers drive VF Corp.'s better-than-expected earnings
VF Corp.(VFC) shares gain some 5% Monday after the Vans brand logged a 26% revenue increase. VF Corp. Inc. has about two dozen brands beneath its umbrella, including Timberland, The North Face, Wrangler and Dickie's, but it's the Vans brand of sneakers that was the earnings driver for the third quarter. VF Corp. (VFC) shares were up 5.3% in Monday afternoon trading after the company reported adjusted earnings of $1.23 per share and revenue of $3.51 billion, both beating estimates.
Hasbro beats profit and revenue expectations, but gives downbeat sales growth outlook
Shares of Hasbro Inc. were indicated up more than 1% in premarket trade Monday, after the toy maker beat third-quarter profit and revenue expectations, but provided a downbeat outlook. Net income rose to $265.6 million, or $2.09 a share, from $257.8 million, or $2.03 a share, in the same period a year ago. Net EPS included a 4-cent benefit from the adoption of new share-based payment accounting. The FactSet EPS consensus was $1.94. Revenue rose to $1.79 billion from $1.68 billion, topping the FactSet consensus of $1.78 billion, as better-than-expected franchise brands and Hasbro gaming revenue offset a miss in partner brands revenue. The company said it expects fourth-quarter revenue to rise 4% to 7% above year ago levels. The FactSet consensus of $1.82 billion implies growth of 11%. The stock has tumbled 15% over the past three months, while the S&P 500 has gained 4.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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