Q2 2022 U.S. Retail Scorecard – Update - Friday, Aug. 26

To date, 182 of the 204 companies in our Retail/Restaurant Index have reported their earnings results for Q2 2022, representing 89% of the index. Of those companies that have reported their quarterly results so far, 74% announced that profits beat analysts’ expectations, while 2% delivered on-target results and 24% reported earnings that fell below estimates. The Q2 2022 blended earnings growth estimate now stands at -5.9%.

The blended revenue growth estimate for the 204 companies in this index is 9.2% for Q2 2022. Of those companies that have reported their quarterly results so far, 61% announced revenue that exceeded analysts’ expectations and the remaining 39% reported that their revenue fell below analysts’ forecasts.

Exhibit 1: Refinitiv Earnings Dashboard

(Click on image to enlarge)

This week: Q2 2022 earnings

As predicted by StarMine, Ulta Beauty and Williams-Sonoma beat their Q2 earnings estimates and posted a positive surprise. Meanwhile, Gap beat its earnings, and revenue estimates and saw an improvement from the previous quarter. The strength came from its Banana Republic division which posted a robust 8.0% SSS growth.

This week’s results also showed that discounters that sell gasoline outperformed the other discount chains.

Exhibit 2: Discounters Same Store Sales Estimates and Actuals – Q2 2022

Source: Refinitiv I/B/E/S

The following chart displays estimates of earnings and same store sales expectations for retailers that are scheduled to release their Q2 2022 results this week.

Exhibit 3: Same Store Sales and Earnings Estimates–Q2 2022

(Click on image to enlarge)

Source: Eikon Workspace

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Disclaimer: These views are not investment advice, and should not be interpreted as such. These views are my own, and do not represent my employer. Trading has risk. Big risk. Make sure that you ...

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