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In This List

Alibaba Q1'20 EPS grows 56% YOY; Walmart raises FY'20 outlook

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Alibaba Q1'20 EPS grows 56% YOY; Walmart raises FY'20 outlook


* Alibaba Group Holding Ltd. reported fiscal first-quarter adjusted diluted EPS of 12.55 yuan, up 56% year over year and ahead of the S&P Global Market Intelligence consensus mean estimate for normalized EPS of 10.46 yuan. In the three months to June 30, revenue grew 42% year over year to 114.92 billion yuan, above the Market Intelligence consensus mean estimate of 111.65 billion, as the Chinese e-commerce company grew its annual active user base by 20 million to 674 million customers.

* Walmart Inc.'s shares rose 5.6% in premarket trading as the company raised its full-year guidance after reporting adjusted EPS of $1.27 for the second quarter of fiscal 2020, above the S&P Global Market Intelligence mean consensus estimate for normalized EPS of $1.22. It now expects full-year comparable sales growth at the upper end of its previously stated 2.5% to 3% range and a slight decrease to slight increase in adjusted EPS and consolidated operating income, compared to the previous forecast of low-single-digit percentage declines for both.


* Canada Goose Holdings Inc. posted first-quarter adjusted net loss of 21 cents per share, versus a loss of 15 cents per share in the year-ago period and the S&P Global Market Intelligence consensus normalized loss estimate of 24 cents per share. Total revenue rose 59.1% year over year, or 58.6% at constant currency, to $71.1 million. MarketWatch reported that talk show host Bill Maher, an honorary director of People for the Ethical Treatment of Animals, or PETA, will attend the outdoor apparel company's annual meeting to ask Canada Goose to stop using coyote fur and down feathers in its coats.

* Bankrupt retailer Barneys New York Inc. received court approval to borrow the remaining $142 million of its $217 million debtor-in-possession financing, Women's Wear Daily reported, citing a judge's decision at a hearing in Manhattan. "The proceeds will go toward paying off the remaining pre-petition secured debt," Chad Husnick, Barneys' legal counsel from Kirkland & Ellis LLP, reportedly said. Unsecured creditors will meet Aug. 15 to form a committee under the direction of the U.S. Trustee, which will select seven parties whose interests are representative of the group.

* Gap Inc. declared a third-quarter dividend of 24.25 cents per share, payable Oct. 30 to shareholders of record Oct. 9.

* Pandora A/S partnered with Warner Bros. Consumer Products Inc. to launch a Harry Potter-themed jewelry collection Nov. 28.

* Moss Bros Group PLC named Avis Darzins as a nonexecutive director, effective Sept. 1. Maurice Helfgott will step down as the company's senior independent nonexecutive director, effective Oct. 1, when Alex Gersh takes over the role, but will stay on Moss Bros' board until its annual general meeting in May 2020.


* Macy's Inc. lowered its fiscal 2019 adjusted diluted EPS guidance to a range of $2.85 to $3.05 from its previous outlook of $3.05 to $3.25 but continues to expect net sales for the year to be approximately flat. For the quarter ended Aug. 3, adjusted diluted EPS fell to 28 cents from 70 cents in the year-earlier quarter, missing the mean consensus estimate for normalized EPS of 45 cents according to data compiled by S&P Global Market Intelligence.


* Inc. is rolling out a new program under which excess and returned items from third-party sellers who use Fulfillment by Amazon, or FBA, will be donated to charitable institutions. The program, called FBA Donations, will begin accepting items from merchants in the U.S. and the U.K. from Sept. 1.

* Shares of Inc. have dropped 36% since Aug. 12, when CEO Patrick Byrne said he was involved in the investigations regarding Hillary Clinton and Russia. Byrne released the statement to address two stories published by investigative reporter Sara Carter. "I will speak no more on the subject. ... I plan on sitting back and watching the United States Department of Justice re-establish Rule of Law in our country," the executive said. Overstock shares closed at $15.97 on Aug. 14, compared to $24.97 on Aug. 12.


* Natura Cosméticos SA's second-quarter net income jumped 76% to 55.9 million Brazilian reais from 31.8 million reais from the year-ago period. Net revenue grew 9.8% year over year to 3.40 billion reais.


* X5 Retail Group NV said second-quarter net profit rose 55.5% to 13.51 billion Russian rubles from 8.69 billion rubles in the year-ago period while operating profit margin came in at 5.1%. Revenue increased 14.3% year over year to 437.31 billion rubles, on the back of a 5% growth in like-for-like sales.


* Rent-A-Center Inc. completed its acquisition of online rent-to-own service provider C/C Financial Corp., which does business as Merchants Preferred Lease-Purchase Services. The cash-and-stock deal is worth about $47.5 million.

* Home improvement retailer Homebase Group Ltd. named Ian Penney, former group category director of kitchens at Kingfisher PLC, as a Ltd. director, Retail Gazette reported, citing a company statement. Homebase bought Bathstore shops out of administration in July.


* GVC Holdings PLC's half-year adjusted diluted EPS was 31.3 pence, versus 32.2 pence in the year-ago period, as profit after tax fell year over year to £2.1 million from £113.8 million. Net gaming revenue increased to £1.81 billion from £1.13 billion. The company raised its half-year dividend to 17.6 pence from 16 pence in the year-ago period.

* Travellers International Hotel Group Inc. plans to delist from the Philippine Stock Exchange on Oct. 15, after reporting a 52% year-over-year decline in net income to 599 million pesos for the second quarter of 2019. The casino operator will conduct a tender offer for up to 1,582,867,900 of its shares at 5.50 pesos each in order to take the company private and "address evolving market demands and rapidly changing customer needs."


* Retail sales in the U.K. rose 3.9% year over year in July as sales volume climbed 3.3%, according to the Office for National Statistics. Compared with the previous month, retail sales grew 0.2% in value and 0.2% in volume.

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The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.76% to 25,495.46, while the Nikkei 225 fell 1.21% to 20,405.65.

In Europe, around midday, the FTSE 100 fell 1.54% to 7,037.60, and the Euronext 100 dropped 1.36% to 1,010.86.

On the macro front

The jobless claims report, the Philadelphia Fed Business Outlook survey, the retail sales report, the Empire State manufacturing survey, the productivity and costs report, the industrial production report, the business inventories report, the housing market index, the EIA natural gas report, the treasury international capital report, the Fed balance sheet and the money supply report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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