CG: Department Stores Plunge Across the Board
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 16 May 2017
⏱️ 31 minutes
🧾️ Download transcript
Summary
A flurry of earnings reports from Macy’s, Nordstrom, and other department stores were greeted by bearish investors as shares declined as much as 20%. We drill down into the results before considering the longer term outlook for this industry.
Transcript
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| 0:00.0 | Welcome to Industry Focus, the podcast it dives into a different sector of the stock market every day. |
| 0:06.7 | I'm your host, Vincent Shen. |
| 0:08.7 | It is Tuesday, May 16th, and I am pleased to welcome Senior Fool.com contributor, Adam Levine Weinberg, to the show. |
| 0:15.0 | Adam, really excited to have you in studio today. |
| 0:18.0 | Thanks for being here. |
| 0:19.0 | Yeah, thanks for having me in. |
| 0:21.0 | I'm really looking forward to the show today. So Adam you have been |
| 0:25.4 | covering department stores for some time now and with so many of them |
| 0:29.6 | reporting earnings in the past week I wanted to welcome you know, our resident expert on this space, |
| 0:35.2 | to share your thoughts on some of the specific company results and also the broad trends that |
| 0:39.6 | seem to be playing out for this kind of beaten up corner of the retail world. |
| 0:44.0 | And case in point, I think among the major companies reporting, market reaction to the results |
| 0:49.2 | has been pretty ugly so far. |
| 0:51.0 | I see here Macy's down about 21% since the results came out |
| 0:56.0 | Kohl's 8% for theirs JC Penny 18% Nordstrom 10% Dillard's 18%. |
| 1:02.5 | And just this morning, the latest results from TGS companies |
| 1:05.6 | were greeted by 5% decline so far in just |
| 1:08.3 | the first couple of hours of trading. |
| 1:10.6 | So to kick things off, I asked this of Osset too based on the Coach Kate Spade |
| 1:16.5 | deal, just what his first impressions were in terms of your big some of your |
| 1:20.6 | big picture takeaways your first impressions of this kind of flurry of results that we've seen |
| 1:25.6 | from these various competitors in the space. What are your thoughts? |
... |
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