The jury’s still out on the health of the US consumer as investors weigh winners and losers of retail earnings seasonThis next big test of consumer strength will be Friday’s job report
After a couple of decent quarters, BBWI is expected to report flat YoY earnings for Q1, and a revenue decline of 2%, according to FactSet data. Back in March it was announced that Family Dollar, owned by Dollar Tree, would be shuttering nearly 1,000 stores. A consumer pullback has only exacerbated the retailer’s losing battle to competitors such as Walmart and Dollar General . The Dollar Tree brand however announced just last week they were acquiring leases for 170 99 Cent Only outlet locations, while simultaneously announcing layoffs at their headquarters.
It’s been a rough year for Big Lots which has seen its stock plummet 56% YTD. Despite discounters being favored in this high inflation environment, BIG has not been one of the winners in the space. For Q4, EPS missed expectations by five cents, and while revenues beat, they still fell 7% YoY. Fiscal Year 2024 results also fell 14% YoY.9The next big predictor of consumer spending will be May jobs numbers out on Friday.
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