Benzinga
Published Aug 15, 2022 13:40
Updated Aug 15, 2022 14:41
Q2 Retail Earnings Preview: Walmart, Home Depot, Lowe's, Target, BJ's, Kohl's And More
The second-quarter reporting season is entering its final leg.
The past week’s earnings were largely skewed to the negative side. Out of the S&P 500 companies that have reported earnings thus far, roughly 62.3% have beat earnings estimates, 1.4% posted in-line results and 36.3% missed expectations, according to Benzinga Pro data.
The likes of Coinbase (NASDAQ:COIN) Global Inc. (NASDAQ: COIN), Roblox Inc. (NYSE: RBLX) and Palantir Technologies Inc . (NYSE: NYSE:PLTR) all reported disappointing earnings.
Meanwhile, Disney (NYSE: DIS) supported the market with a forecast-beating quarterly performance, with strong domestic park attendance lending support.
Here are the key earnings scheduled for the unfolding week:
Retail Earnings On Tap Retailer earnings reports help gauge the pulse of consumer spending, which is an important component of economic growth. After all, consumer spending accounts for about two-thirds of the U.S. gross domestic product (GDP).
Consumers remained cash-strapped as inflationary pressure ruled high in the second quarter and ate into nominal income. Headline inflation was hitting fresh 40-year highs in each of the three months of the quarter before cooling off in July.
Investors received a foretaste of what is to come when retail giant Walmart, Inc. (NYSE: NYSE:WMT) preannounced second-quarter and full-year shortfall, citing food and fuel inflation.
Home improvement retailers such as Home Depot Inc. (NYSE: NYSE:HD) could have been insulated from some of the weaknesses. Given higher home prices, more dollars are likely to funnel through for home improvement and remodeling.
Home Depot
Lowe's Companies, Inc. (NYSE: LOW)
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Written By: Benzinga
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