Retail stocks punished after holiday updates
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 13 January 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
Show Notes
Strong chance the Fed hikes this year (if you can't get a reservation)
Moderna slides after slashing sales outlook for 2025
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:10.0 | Good afternoon. Today is Monday, January 13th, and I'm your host Kim Khan. Our top story so far, it's the retailer rush. |
| 0:17.6 | The ICR retailer conference starting today has already led to a flood of holiday sales |
| 0:21.9 | and guidance updates. One of the highest profile retail conferences of the year, ICR will include |
| 0:27.4 | participation from management teams for more than 250 premier public and private growth companies. |
| 0:33.4 | Here's a sample, sale, of what's hit the wires so far. Macy says net sales are anticipated to be at to slightly below the low end of the previously issued range of $7.8 to $8 billion versus $7.8 billion consensus. |
| 0:48.2 | Shake Shack is under pressure, despite saying preliminary unaudited results indicated, |
| 0:52.9 | same shack sales rose by 4.3% in Q4, |
| 0:56.0 | and total revenue by 14.8% to top consensus expectations. |
| 1:00.9 | Abercrombie and Fitch is plunging despite boosting its guidance for the holiday quarter and full year. |
| 1:06.0 | Traders appear to be punishing ANF for only matching consensus expectations, |
| 1:10.2 | but Jeffrey's analyst Corey Tarla |
| 1:11.9 | sees the sell-off as an opportunity for investors, saying with strong holiday period sales |
| 1:16.8 | and updated expectations to significantly outpaced long-term guidance, we see ANF as one of our |
| 1:22.5 | top picks of 2025. Chairs of iRobot are also tumbling after it said it now expects sales of 171 million |
| 1:29.5 | versus the initial outlook of $175 to $200 million and a loss of $47 million in operating income |
| 1:36.2 | exceeding its prior forecast for loss between $22 million and $31 million. And Lululemon now expects |
| 1:42.2 | Q4 revenue will be in the range of 3.56 billion to 3.58 billion, |
| 1:46.8 | which is above its prior range of 3.475 billion to 3.51 billion, and the consensus |
| 1:52.1 | estimate of 3.47 billion. The expected range represents growth of 11 to 12 percent for the |
| 1:57.9 | crucial holiday quarter. In today's trading, crude oil prices are at their highest |
| 2:02.5 | levels in nearly five months, driven by wider U.S. sanctions on Russian oil that threatened |
... |
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