Costco Wholesale (COST) reported late Wednesday net sales of $19.64 billion for the four weeks ended June 2, up from $18.16 billion a year earlier. Net sales for the first 39 weeks were $186.07 billion, up from $174.07 billion last year, the retailer said.
Costco May Sales Rise Year Over Year Read Post »
By Sabela Ojea Lululemon Athletica said revenue rose in the latest quarter boosted by its presence in the Chinese market amid a slowdown in growth in the Americas. The yoga pants maker on Wednesday posted a profit of $321.4 million, or $2.54 a share, compared with $290.4 million, or $2.28 a share, for the same period a year earlier. Analysts surveyed by FactSet had forecast earnings per share of $2.41. Revenue rose to $2.21 billion from $2 billion, slightly beating the $2.2 billion expected by Wall Street, according to FactSet. In the Americas region, Lululemon saw revenue growth of 3%, down from a 9% increase in the fourth quarter. “Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment,” Chief Executive Calvin McDonald said. Lululemon’s international revenue jumped 35%, mainly boosted by its performance in
Lululemon Posts Higher 1Q Rev After China Gains Offset Slowdown in Americas Read Post »
Lululemon Athletica (LULU) late Wednesday reported stronger-than-expected fiscal first-quarter results while the athletic apparel and footwear company lifted its full-year earnings outlook. Earnings advanced to $2.54 a share during the quarter through April 28 from $2.28 the year before, surpassing the Capital IQ-polled GAAP consensus of $2.42. Revenue increased 10% to $2.21 billion, just above analysts’ $2.2 billion estimate. Lululemon’s Nasdaq-listed stock was rallying 13% in after-hours trade. Comparable sales increased 6%, driven by a 25% jump in international operations. The consensus was for a 6.5% headline rise. Lululemon expects full-year EPS of $14.27 to $14.47, compared with $14 to $14.20 previously projected. The company continues to expect revenue of $10.7 billion to $10.8 billion. Analysts are forecasting GAAP EPS of $14.18 and sales of $10.76 billion. For the fiscal second quarter, the company expects EPS of $2.92 to $2.97 on revenue between $2.4 billion to $2.42 billion. The Street
Lululemon Athletica Exec – Expect to Be in a More Optimal Inventory Position in Second Half of 2024
Lululemon Athletica Exec – Expect Transaction for Mexico Ops to Have an Immaterial Impact on Financial Results for FY2024
Costco Wholesale’s revenue growth continued to climb, up 8.1% in May from last year to $19.6 billion. That’s also an increase from April, when the company’s net sales rose 7.1% to $19.8 billion. E-commerce continues to show success, with online same-store sales up 15.3% year-over-year for May. In April, they rose 14.6%. Total company same-store sales rose 6.4% from a year ago. In April, they rose 5.6%. The stock was down 0.04% to $834 in after-hours trading. Shares are up 26.4% so far this year. On May 30, the wholesale retailer reported fiscal third quarter revenue of $57.4 billion, a 9.1% year-over-year rise. The company narrowly missed estimates calling for $58 billion. U.S. same-store sales rose by 6%, in line with expectations. Earnings for the quarter beat expectations, at $3.78 a share versus FactSet’s estimate of $3.70 a share. Costco is one of the only retailers to still report monthly
Costco’s May Sales Jump. E-Commerce Continues to Climb. Read Post »
By Heard Editors Another $3 trillion Big Tech company just got minted. On Wednesday it became Nvidia’s turn to join that rarefied club, which includes Apple and Microsoft, as its stock gained 5.2%. The chipmaker, which is set to execute a stock split after markets close on Friday, is up 147% so far this year. Big Tech companies keep blowing past enormous market capitalizations to power the stock market’s gains. The Nasdaq Composite hit another record Wednesday, advancing 1.96%, thanks to the tech giants. Besides Nvidia, shares of Meta Platforms, Microsoft, Alphabet, Apple and Amazon.com also advanced. The S&P 500 also rallied to a new high, adding 1.2%, while the Dow industrials edged up 0.3%, gaining 96 points. Easing borrowing conditions may have something to do with the recent stock market gains. The yield on the 10-year Treasury note fell for a fifth straight day to 4.289%. Treasury yields have
Nvidia Joins the $3 Trillion Club — WSJ Read Post »
Lululemon’s performance in the U.S. dragged down the yoga maker’s results in the latest quarter, leading to what CEO Calvin McDonald calls a slower start to the year. Several internal factors hit Lululemon’s results, including a missed opportunity in women’s and bags, which the company’s actively addressing, McDonald says. Operating in a choppy U.S. consumer environment didn’t help, McDonald says. When looking at women’s, the company should have stopped focusing as much in leggings. These comments come as competitors Alo Yoga and Vuori focus on wide-leg bottoms that come with pockets. Shares rise 11% to $341.52 after hours.
Lululemon Starts Year Slow in the U.S., Wrong Leggings Focus Read Post »
MongoDB, Inc. (NASDAQ:MDB) 44th Annual William Blair Growth Stock Conference June 5, 2024 5:40 PM ET Company Participants Michael Gordon – CFO & COO Serge Tanjga – SVP Finance Conference Call Participants Jason Ader – William Blair Jason Ader With that said, I’m Jason Ader with William Blair. Very pleased to have Michael Gordon, COO and CFO of MongoDB; and Serge Tanjga, SVP of Finance. Regulars at this conference now. I appreciate it. Michael Gordon Yes. Great to be here. Thanks for having us. Jason Ader Before we begin, I’m required to inform you that a complete list of research disclosures, potential conflicts of interest is available on our website at williamblair.com. And we’re just going to do a fireside chat format here. And hopefully, we’ll have some time at the end for Q&A. But like I said, at 5:10, we’ll cut the webcast, and then, we’ll have a little
MongoDB, Inc. (MDB) 44th Annual William Blair Growth Stock Conference (Transcript) Read Post »
By Aaron Tilley For those who saw them, the demonstrations inside Apple earlier this decade of a revamped Siri offered a showcase of the amazing capabilities a powerful AI voice assistant could have. The famed assistant, one of the last projects Apple co-founder Steve Jobs worked on before his death, had been given a total overhaul. Capable of running on an iPhone and without an internet connection, the new Siri impressed people with its improved speed, conversational capabilities and the accuracy with which it understood user commands. Code-named Project Blackbird, the effort also imagined a Siri with capabilities built by third-party app developers, according to people familiar with the work. Yet a competing project won out in an internal contest ahead of the 10-year anniversary of Siri’s launch. Known as Siri X, the more-modest upgrade involved moving more existing Siri software onto iPhones from remote servers to improve the voice
How Apple Fell Behind in the AI Arms Race — WSJ Read Post »
FactSet Research Systems (FDS) is likely to miss estimates by analysts for annual subscription value in fiscal Q3. potentially leading to lower ASV growth guidance in the full year, Morgan Stanley said Monday in a report. The company “continues to face challenging end market conditions with tight budgets, clients delaying sales and cost pressures leading to decelerating client headcount,” Morgan Stanley said. ASV growth decelerated in the past six quarters and headwinds to fiscal Q3 include the potential impact of the merger of UBS (UBS) and Credit Suisse (CS), the report said. For the full year, Morgan Stanley said its new ASV growth expectation for the company is 13% below consensus and 9% below FactSet’s guidance. FactSet is set to release its fiscal Q3 results on June 21. Morgan Stanley cut its price target on FactSet stock to $350 from $372 and reiterated its underweight rating. FactSet shares fell 2%
CrowdStrike (CRWD) shares were up 7% in premarket activity on Wednesday after the company reported a stronger-than-expected jump in fiscal Q1 earnings as sales surged more than forecast and raised its fiscal 2025 guidance. The company reported fiscal Q1 non-GAAP earnings late Tuesday of $0.93 per diluted share, up from $0.57 a year ago. Analysts polled by Capital IQ expected $0.89. Revenue for the quarter ended April 30 was $921.0 million, up from $692.6 million a year earlier. Analysts surveyed by Capital IQ expected $904.8 million. The company said it expects Q2 non-GAAP EPS of $0.98 to $0.99 and revenue of $958.3 million to $961.2 million. Analysts polled by Capital IQ expect 0.91 and $956.3 million, respectively. The company said it now expects fiscal 2025 non-GAAP EPS to be between $3.93 and $4.03 and revenue to be between $3.98 billion and $4.01 billion. Its previous guidance was for non-GAAP EPS