Several retailers made pre-announcements ahead of the 2023 ICR Conference this week. Looking at the results presented by management, it looks like a trend is taking shape.
Things You Need to Know: Macy’s Inc M. We expect fourth-quarter earnings to be in the lower to middle range of the company’s previously issued guidance range of $8.161 billion to $8.41 billion, versus an average estimate of $83. 110 million dollars. The New York-based company expects adjusted earnings of $1.47 to $1.67 per share against estimates of $1.60 per share.
Macy’s noted that discretionary spending was squeezed during the holiday season.
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casual apparel retailers Tilly’s Co., Ltd. TLYS Sales were down approximately 13% year-over-year.
“We believe this year’s inflationary environment has had a negative impact on customer spending and our performance during the 2022 holiday period, especially compared to the record holiday period following the 2021 pandemic,” the company said. Stated.
These companies seem to indicate that consumers are facing inflationary pressures and are holding back on discretionary spending. At the very least, consumers seem to be turning to discount retailers.
Five Below Co., Ltd. five Previously, fourth quarter revenue was expected to be between $1.085 billion and $1.11 billion. Ahead of the ICR conference, the company said it expects results to be near the high end of previously provided guidance ranges.
Five Below looks to be doing great, with holiday sales up 11.2% year-over-year.
“As we enter fiscal 2023 with momentum, we are excited to execute on our triple-double strategy, including opening over 200 new stores for the first time in history and converting over 400 stores to the new Five Beyond format. I’m here.
Related Link: Five Below’s strong holiday sales push analyst to raise price target by 6%
food is? You must eat: The trend seems to be similar to consumers looking for cheaper options.
shake shack ink shak expects fourth-quarter revenue to be $237.56 million, compared with $238.5 million. The company expects him to make $905 million in revenue for the full year, compared to estimates that he’s $899.39 million. He expects fourth-quarter same-store sales to increase by more than 5%.
Shake Shack said it will open 36 new stores in 2022. Twenty-two of those stores opened in the fourth quarter.
potberry company PBPB The company said it saw strong momentum towards the end of the year, which lasted through 2023. The company expects fourth-quarter earnings to rise from previous guidance of $114 million to $119 million and from $119 million to $120 million.
jack in the box company Jack No advance announcement was made, but the fast food chain reportedly raised its outlook during the conference. Goldman Sachs reportedly said Jack in the Box is in the early stages of an accelerated growth story.
Price action: All of the aforementioned names traded higher on Wednesday, with the exception of Jack in the Box, which was down 0.92% at the time of writing, according to Benzinga Pro.
Photo: Jonathan Harford on Flickr.
