Looking for something exciting to watch this week? Check out the upcoming quarterly earnings reports from some of your favorite publicly traded companies! Get ready to find out how they performed during the quarter.
Here are the companies to watch this week
- Dollar Tree
Target had a fantastic fourth quarter, proving to be an outperformer with its earnings beating market expectations. However, the CEO is taking stock of shifting consumer spending habits and taking a prudent approach towards future investments!
Target shoppers have had to stretch their dollar a little further this year, investing in much-needed staples like food and drink rather than splurging on luxury items such as electronics or clothes.
Target defied expectations this Tuesday by posting earnings results that exceeded estimates despite the shift in consumer spending away from discretionary items. Not only did same-store sales increase an unexpected 0.7%, Target shares rose 3.5% as well!
CEO Brian Cornell was pleased with his team’s efforts during a difficult time/ He noted the increased demand for essential goods such as food, explaining why those categories managed to perform comparatively better than electronics, home décor and apparel items at Target locations across America.
Sales revenues exceeded expectations, and adjusted earnings per share blew them away. Even better – same-store sales were up compared to what was expected, with brick & mortar showing an impressive 1.9% increase.
Cornell revealed that the retailer experienced a successful quarter by diversifying their offerings – from food & beverage, to beauty and household items.
This multi-category strategy enabled them to attract customers in any market condition, resulting in growing traffic for all four quarters of last year!
Target ended Q4 with a bang as its same-store sales exceeded expectations, and revenue for the full fiscal year grew by $30 billion compared to 2019.
Physical store traffic got an additional boost of 1.9%, counteracted only slightly by a 3.6% dip in digital sales revenues meanwhile inventory was down overall, but saw higher numbers in frequency categories like electronics and apparel to partially offset it! Big things are happening. Talk about hitting your goals head on!
Dollar Tree’s fourth quarter numbers are looking bright! Analysts expect DLTR (opens in new tab) to report earnings of $2.02 per share – up a cent from Q4 2021, and thanks to an anticipated 7.4% year-over-year jump in revenue, they’re on track for success when the figures come out ahead of March 1st open.
Consumer spending shows signs of strain in the face of rising inflation, with shoppers focusing their attention on what and where they buy. Deutsche Bank analyst Krisztina Katai is one expert who believes this could benefit DLTR stock – just one of her top picks for a volatile retail sector!
Her opinion seems to be reflected by S&P Global Market Intelligence’s data; out of 27 analysts following the company, nine recommend it as a Strong Buy while another four say ‘Buy’.
If you’re looking towards investing in The Dollar Tree Stores Inc., now may well be an excellent time to do so.
The tech sector is set to be in the spotlight next week with results from Broadcom, one of its high-performing stocks.
The semiconductor giant has been crushing it lately and has increased by 10.4% over the last six months – good news for investors looking to beat a down market!
Results will come out after Thursday’s close, so make sure you stay tuned if AVGO stock is on your radar.
AVGO’s quarterly report could be a big factor in determining the stock’s price momentum. According to Oppenheimer analyst Rick Schafer, AVGO is well-positioned as it dominates cloud and infrastructure markets, which are expected to lead growth this year.
What’s more? Broadcom has done an excellent job of aligning shipments with end consumption! On average, analysts anticipate that fourth-quarter earnings will increase 20.5% YoY while revenue jumps 15.5% YoY – if these projections hold true then investors should certainly stay tuned for further details from the upcoming report!
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