The operating environment for our first two quarters in fiscal 2010 is expected to be extremely difficult. – Alan Graf Jr., CFO, Federal Express Federal Express (FDX) reported fiscal 4th quarter earnings this morning. Revenue in their core US Express…
But the bigger issue is sales. Comparable store sales were down 6 percent compared to the same period last year. True, the stimulus checks handed out last year have created difficult comps for retailers this quarter, not to mention the…
Period Tiffany US Same Store Sales 1Q FY 2009 -34% 4Q FY 2008 -33% 3Q FY 2008 -14% 2Q FY 2008 -4% 1Q FY 2008 0% 4Q FY 2007 -1% 3Q FY 2007 +8% 2Q FY 2007 +17% I admit it. …
Here are some same store sales numbers for major retailers reporting yesterday and today: JC Penney (JCP) same store sales down 7.5% in the quarter ended May 2, 2009 (JCP Earnings Release). Nordstrom’s (JWN) same store sales down 13.2% in…
Our customers [in the US, Asia, Europe and Latin America] are beginning to see a steadying, a stabilization, something solid under their feet. – John Chambers, CEO, Cisco Systems, Squawk On The Street this morning John Chambers was pretty optimistic…
The less-worse trade is in the late innings. We’re at valuation levels where things have to start growing in order to maintain momentum in the stock. – Mitchell Speiser (subscription required), Analyst, Buckingham Research, who has a Sell rating on PF…
The quality of this rally is low…. The move is powerful but the underlying raitonale weak. – Greg Feirman, Top Gun FP Client Note: The Facts Are Stubborn, April 27 [The bounce was] in extraordinarily dubious quality names. These were…
Okay, I admit it: this market is now officially annoying me. American Express (AXP) reported 1st quarter earnings after the close yesterday and from the behavior of the stock you’d think it suggested a major turnaround and economic recovery. The…
As a one man shop, I can’t cover every single copy or read every report. So what I try to do is look at bellwethers, company’s that cover a broad swath of an industry and that should give insight into the…
Andrew Ross Sorkin wrote an article in today’s New York Times, “Bank Profits Appear Out Of Thin Air”, confirming my suspicions: This is starting to feel like amateur hour for aspiring magicians. Another day, another attempt by a Wall Street…