Chewy Q1 sales beat channel expectations, says Cleveland Research » 10:1606/0506/05/20
Cleveland Research analyst Scott Bender, who does not formally cover Chewy, says research continues to be positive on the company's execution, resulting in "strong" sales growth and customer acquisition. Channel feedback suggests Chewy's Q1 sales trends finished ahead of channel expectations and that the company saw a "meaningful" increase in active consumer growth over the past few months, Bender tells investors in a research note. The analyst's outlook continues to be positive for Chewy.
Zumiez price target raised to $28 from $18 at DA Davidson » 08:3106/0506/05/20
DA Davidson analyst John…
DA Davidson analyst John Morris raised the firm's price target on Zumiez to $28 from $18 but keeps a Neutral rating on the shares. The company's Q1 results were weaker than expected due to temporary store closures, but its preliminary May sales may be benefiting from pent-up demand, as open store comps rose 38.5% and e-commerce comps rose 181.6%, the analyst tells investors in a research note. Morris adds that Zumiez benefited from the company's one channel operating model that fulfills online orders from inventory in stores, which enabled it to clear through some aged inventory in the stores before they re-open.
Zumiez price target raised to $33 from $27 at B. Riley FBR » 08:1806/0506/05/20
B. Riley FBR analyst Jeff…
B. Riley FBR analyst Jeff Van Sinderen raised the firm's price target on Zumiez to $33 from $27 and reiterates a Buy rating on the shares. The company's Q1 metrics were below "placeholder estimates," but as stores reopened, business "came screaming back" in May, Van Sinderen tell investors in a research note. The magnitude of improvement in May, "as pent-up demand was unleashed, is striking," says the analyst. He believes the trough is likely in and that Zumiez is positioned to emerge from the pandemic "even stronger."
Chewy price target raised to $48 from $34 at Barclays » 06:3206/0506/05/20
Barclays analyst Deepak…
Barclays analyst Deepak Mathivanan raised the firm's price target on Chewy to $48 from $34 and keeps an Equal Weight rating on the shares. The company could report fiscal Q1 revenue ahead of consensus estimates given the strong demand for pet e-commerce offerings over the past few months, Mathivanan tells investors in a research note. Recent data points on e-commerce from peers appear to indicate accelerating growth in May versus April, adds the analyst. Mathivanan thinks the consensus estimate of 34% revenue growth for Q2 is achievable, but notes Chewy could choose to guide conservatively given uncertainties in customer behavior.
Fly Intel: After-Hours Movers » 19:0506/0406/04/20
DOMO, MTN, DOCU, RH, AVGO, IMUX, VECO, WORK, GPS, YEXT, COO, PD, CAL, MDB, ZUMZ, MNLO, GME
Check out this evening's…
More than half of American retailers skipped on rent in April, May, BI says » 17:1706/0406/04/20
BBBY, GPS, AMC
According to Business…
According to Business Insider, citing an earlier story from the Washington Post's Heather Long, "Bed Bath & Beyond (BBBY), Famous Footwear, H&M, and the Gap (GPS), AMC (AMC) and Regal movie theaters, and 24 Hour Fitness gyms have all missed payments, jeopardizing the stability of their property management companies and municipal governments that rely on property taxes." Reference Link
Zumiez reports May sales decrease of 8.6% » 16:1206/0406/04/20
The company's total…
The company's total net sales decreased 8.6% for the four-week period ended May 30, compared to an increase of 2.6% for the four-week period ended June 1, 2019 primarily based on closures continuing into May with some areas not expected to open until June, offset by better than expected results in stores open and e-commerce demand. Comparable store sales for locations opened in May as well as e-commerce traffic increased 79.6%. By channel, open store comparable sales were 38.5% and e-commerce sales were 181.6% in May.
Zumiez not providing Q2, FY20 outlook at this time » 16:1006/0406/04/20
Due to the fast-moving…
Due to the fast-moving nature of this situation and the uncertainty of impacts on revenue and costs, the company previously withdrew its FY20 guidance. The company is not providing an updated outlook at this time for Q2 or the year.
Zumiez ends quarter with $217M in cash, securities » 16:0906/0406/04/20
At May 2, Zumiez's…
At May 2, Zumiez's cash and current marketable securities increased $49.2M or 29.3% to $217.2M, compared to cash and current marketable securities of $168.0M at May 4, 2019. The increase in cash and current marketable securities was driven by cash generated through operations throughout 2019 partially offset by capital expenditures and $13.4M of share repurchases through the company's stock buyback program prior to stores closing due to COVID-19. The company ended the quarter with no debt.
Zumiez reports Q1 EPS (84c), consensus (41c) » 16:0806/0406/04/20
Reports Q1 revenue…
Reports Q1 revenue $137.8M, consensus $152.12M.