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Good morning friends!
Futures are higher as traders digest more Q3 retail earnings in the light holiday week.
Let’s get right to it!
Dollar Tree (DLTR) shares are falling 2.1% ahead of the open despite beating Q3 expectations.
Here’s how the discount retailer’s results compared to analysts’ estimates:
Same-store sales rose 6.5% year over year.
Traders soured on the stock as Dollar Tree said it expects full-year profits to be in the lower end of its prior outlook due to inflationary cost pressures.
The retailer raised it sales outlook to between $28.14 billion and $28.28 billion and forecast EPS in the lower range of $7.10 to $7.40.
Dick’s Sporting Goods (DKS) shares are up 0.9% in premarket trade after beating Q3 expectations and hiking its outlook.
Here’s how the sporting goods retailer’s results compared to analysts’ expectations:
Comparable store sales were up 6.5% year over year.
Dick’s raised its full-year earnings outlook and is now expecting a smaller decline in comparable sales.
The retailer expects full-year adjusted EPS between $11.50 and $12.10 vs $10 to $12 previously.
Comparable sales are expected to fall 1.5% to 3% for the year vs previous guidance for a 2% to 6% drop.
Best Buy (BBY) shares are rallying 8.2% ahead of the open after beating Q3 expectations.
Here’s how the electronics retailer’s results compared to analysts’ expectations:
Comparable sales fell 10.4% year over year vs analysts’ estimates for a 12.9% decline.
Best Buy reiterated its outlook for the key holiday quarter and improved its full-year outlook.
The retailer expects full-year same-store sales to fall about 10% vs previous guidance for down about 11%.
Zoom Video Communications (ZM) shares are tumbling 7.5% in premarket trade as disappointing sales guidance overshadows a Q3 earnings beat.
Here’s how the company’s results compared to analysts’ expectations:
Revenue was up 5% year over year vs 8% growth in Q2.
But net income plummeted by $291.9 million.
Zoom lowered its full-year revenue guidance, now expecting $4.37 billion to $4.38 billion in sales vs the average $4.4 billion analyst estimate.
The company expects full-year adjusted EPS of $3.91 to $3.94, beating analysts’ expectations and up from its previous forecast.