NEWSFEED HIGHLIGHTS
- Comp Sales +4% (est +3.21%)
- Net Sales $15.28 (est $15.12B)
- Sees Q3 Comp Sales +2% to +3% (est 3.16%)
- Still Sees Fy Comp Sales +3% To +4% (est +3.84%)
- Sees FY EPS $5.31 To $5.36, Saw $5.08 To $5.15
- Plans To Boost Store Growth To 4% Beginning In FY28
- During Q2 Received Aggregate Refunds Of $331M For A Portion Of The IEEPA Tariffs It Previously Paid
- In Q3, Expects To Receive Additional IEEPA Tariff Refunds, Which It Expects To Benefit Q3 Fiscal 2027 Cost Of Sales
- Rev $4.02B (est $3.92B)
- Adj EPS $3.45 (est $3.35)
- Sees Q4 Adj EPS $3.71 To $4.01 (est $3.55)
- Sees Q4 Rev $4.20B To $4.40B (est $4.09B)
- Retail Sales (M/M): -0.6% (est 0.0%; prev 0.1%)
- 30 Year Mortgage Rate: 6.77% (prev 6.77%)
- Comp Sales +3.8% (est +2.43%)
- Net Sales $26.54B (est $26.11B)
- Sees FY Adj EPS $9.90 To $10.90
- Results Include $994 Mln Of Pretax Tariff Refund Benefits Within Gross Margin And Operating Income
- Excluding Tariff Refunds, Midpoint Of FY Adj EPS Guidance Range Reflects $0.75 Increase VS Prior Guidance
FEATURED STORIES
UK inflation rose for the first time on an annual basis since March in July, but there was little in Wednesday’s data to materially alter the outlook for Bank of England policy. While higher energy costs pushed the headline rate up, underlying price pressures remained relatively contained.
Headline CPI inflation rose in line with expectations to 2.9% y/y in July, three tenths above June. Prices increased 0.3% m/m, also matching forecasts and accelerating from 0.1%...
Inflation data from the Bureau of Labor Statistics appeared to offer some solace for the doves on the FOMC.
Headline CPI rose an in-line 0.1% m/m in July, rebounding from the 0.4% decline seen last month. On the year, the index slipped a tenth to 3.4%, also matching estimates. Core CPI increased 0.2% m/m, following a flat June reading, while the annual rate eased to 2.5% from 2.6%. Both figures were in line with forecasts.
The BLS said shelter costs rose 0.1% in...
Fed officials who backed a rate hike at July’s FOMC meeting argued that monetary policy was not restrictive enough to bring inflation back under control. Wednesday’s report from the Bureau of Labor Statistics may offer some indication of whether they were right.
Headline CPI is forecast to rebound 0.1% m/m in July following a 0.4% decline in June, while the annual rate is expected to ease a tenth to 3.4%. Core CPI is seen rising 0.2% m/m, with the year-on-year rate...
The euro area economy appears to be weathering the energy shock better than expected, according to the first estimate of second-quarter GDP from Eurostat.
Preliminary figures showed the economy expanded 0.4% q/q in the three months to June, double the consensus forecast and rebounding from an upwardly revised flat reading in Q1 (previously reported as a 0.2% contraction).
On an annual basis, GDP grew 1.0% y/y, three-tenths above expectations and well ahead of the...
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