The Zacks Consensus Estimate for American Eagle’s earnings has moved up by a penny to 17 cents per share in the past seven days. You can see the complete list of today’s Zacks #1 Rank stocks here. The consensus mark for AEO’s quarterly revenues is pegged at $1.06 billion, which suggests growth of 0.9% from the figure reported in the prior-year quarter. The company is likely to register top and bottom-line growth when it reports first-quarter fiscal 2023 results. Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:Īmerican Eagle Outfitters ( AEO Quick Quote AEO - Free Report) currently has an Earnings ESP of +7.46% and a Zacks Rank of 3. Ross Stores has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Our proven model does not conclusively predict an earnings beat for Ross Stores this time around. Unfavorable timing of pack-away-related expenses and deleverage from its new distribution center are expected to have resulted in higher distribution costs. For first-quarter fiscal 2023, the company expects comps to be relatively flat on a 52 weeks basis, whereas it reported 7% comps growth in the prior-year quarter.įurther, Ross Stores’ cost of goods sold is likely to have witnessed continued impacts of lower merchandise margins, unfavorable timing of pack-away-related costs and increased markdowns. On its last reported quarter’s earnings call, Ross Stores noted that its comp performance in the first quarter of fiscal 2023 will reflect the continued impacts of elevated inflation on its low-to-moderate income customers. On the last reported quarter's earnings call, the company anticipated the escalating inflationary pressures that are affecting dd's lower-income customer base and increased promotions to hurt its comps in the to-be-reported quarter. However, Ross Stores has been witnessing the effects of the ongoing financial pressures on dd’s DISCOUNTS’ lower-income customer base and increased markdowns. Earnings per share are envisioned between 99 cents and $1.05 for the fiscal first quarter. The company expects sales growth of 1-4% year over year in the fiscal first quarter. On its last reported quarter’s earnings call, Ross Stores was optimistic about its first-quarter fiscal 2023 performance. Gains from new stores are expected to get reflected in ROST’s sales for the fiscal first quarter. The first-quarter fiscal 2023 performance is anticipated to have gained from the company’s return to normal store opening targets. The company's store-expansion efforts have been focused on continually increasing penetration in existing and new markets. Ross Stores has been consistent with the execution of its store expansion plans, which are likely to have aided the top line. Gains at the core business, driven by consumers' continued focus on value and the company’s ability to deliver value bargains to customers, bode well. Sales are also expected to have gained from robust trends at the dd's DISCOUNTS business. Sales in the fiscal first quarter are likely to have benefited from broad-based growth across merchandise categories and regions, as well as robust comparable store sales. Ross Stores has been benefiting from robust customer demand and improved traffic trends in the retail industry.
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