June 16, 2021

Politics & News

Politics and Commentary News Aggregator

Retail earnings and consumer spending

5 min read

Investors will get to learn more about the pandemic’s ongoing impact on the consumer economy as retailers prepare to issue quarterly earnings reports, CNBC’s Jim Cramer said Friday.

The industry will have its time in the spotlight on Wall Street after the Commerce Department on Friday said that retail sales were unchanged in the month of April coming off a 10.7% increase in March.

“Next week’s about the consumer spending, whether at home, outside, or in the mall,” the “Mad Money” host said. “Before you bet on which retailer’s doing the best, you need to account where their stocks are coming from, because some of them have run too much while others still have room to play catch up.”

Cramer gave his game plan for the week ahead. Earnings-per-share projections are based on FactSet estimates:

Monday: Lordstown Motor, Fisker earnings

Tuesday: Walmart, Home Depot, Macy’s, Take-Two Interactive earnings

Wednesday: Lowe’s, Target, TJX, Analog Devices, Cisco earnings

Thursday: Kohl’s, Ralph Lauren, Petco, Hormel, Applied Materials, Palo Alto Networks earnings

Kohl’s

  • Q1 2021 earnings release: before market; conference call: 9 a.m.
  • Projected EPS: 8 cents
  • Projected revenue: $3.35 billion

“It’s too daunting after that huge rally,” Cramer said. “I’ve been not the best on Kohl’s. … Suffice it to say that other people know Kohl’s better than I do.”

Ralph Lauren

  • Q4 2021 earnings release: 8 a.m.; conference call: 9 a.m.
  • Projected losses per share: 72 cents
  • Projected revenue: $1.21 billion

“Ralph Lauren’s going more youthful and upscale,” he said. “It’s a good move, and I predict upgrades into the quarter.”

Petco

  • Q1 2021 earnings release: 7:15 a.m.; conference call: 8:30 a.m.
  • Projected losses per share: 9 cents
  • Projected revenue: $1.27 billion

“I think they’ll be able to capitalize on the pandemic pet boom,” the host said. “The stock jumped nearly 9% today, so it could, again, get away before the quarter.”

Hormel Foods

  • Q2 2021 earnings release: before market.; conference call: 9 a.m.
  • Projected EPS: 41 cents
  • Projected revenue: $2.42 billion

“They recently bought one of the most undermanned, underspent brands in the history of the supermarket, Planters nuts, and I bet they tell a great story about how the acquisition’s already paying off,” he said.

Applied Materials

  • Q2 2021 earnings release: after market; conference call: 4:30 p.m.
  • Projected EPS: $1.51
  • Projected revenue: $5.4 billion

“They’ll have to deal with analyst hecklers tearing apart every sentence, if not every word, because of a sudden plunge in some of those semiconductors,” Cramer said. “I think that’s a total exaggeration, but it won’t stop the analysts from being skeptical.”

Palo Alto Networks

  • Q3 2021 earnings release: after market; conference call: 5 p.m.
  • Projected EPS: $1.29
  • Projected revenue: $1.06 billion

“Who doesn’t want a cyber-security play when a bunch of hackers just shut off the supply of gasoline to the east coast? I bet they have excellent numbers,” he said.

Friday: Deere, VF Corp, Foot Locker earnings

2021-05-14 18:56:00

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