Key Takeaways
- Both of the big retail companies to report third-quarter results Tuesday morning lifted their full-year outlooks ahead of the busy holiday selling season.
- Walmart issued a third upgrade to its outlook since February, offering up optimism about net-profit growth. Lowe's said same-store sales were seen falling less than previously expected.
- Several other retailers are set to report results and, potentially, update their outlooks later this week.
Some big retailers are feeling better about the♊ end of the year.
Both of the big retail companies to report third-quarter results Tuesday morning—Walmart (WMT) and Lowe’s Cos. (LOW)—lifted their full-year outlooks ahead of the busy holiday selling season. Results due later this week 澳洲幸运5官方开奖结果体彩网:from other retailers, including Target (TGT), TJX Cos. (TJX) and Ross Stores (ROST), will round out today’s reports.
Walmart 澳洲幸运5官方开奖结果体彩网:now expects full-year revenue to rise 4.8% to 5.1% from last year’s levels, marking a third upgrade to its outlook since February. (The implied sales number is a bit below the Visible A🐼lpha consensus, though the midpoint of its new range for adjusted earnings per share indicates optimism about net-profit growth.)
The company said its sales outlook “assumes a generally stable consumer and continued pressure from its mix of products and🎐 formats globally.” The news lifted Walmart’s shares, which earlier touched record levels.
Home-improvement retailer Lowe’s also lifted its outlook for full-year sales, saying same-store sales were now seen falling less than previously anticipated. Its shares were recently lower, weighed down in part by concern about the health of 澳洲幸运5官方开奖结果体彩网:the housing market and 澳洲幸运5官方开奖结果体彩网:big-ticket sales.
Also lower was the SPDR S&P Retail ETF (XRT). One possible concern: Walmart’s ability to keep attracting higher-income customers, notably in the 🔯grocery aisles💯, which may be making investors less optimistic about some of its competitors.