Like last week, on the earnings front, I am once again spoiled for choice this week with names and regions that are currently expected to weigh in with earnings. It’s an easy problem because only a handful of companies can make this week’s cut. Like previous reports, it’s another huge week for energy with petrol companies like Marathon Energy, BP, Marathon Oil, and ConocoPhillips. Other energy names, including Chesapeake, Western Gas and Duke Energy, are also expected to report earnings this week.
Let’s look at some of the retail and consumer names I’m seeing this week, the reason for this and my question.
Simon Property Group-Reporting before the market opens on Tuesday
Why: If you think of the mall, you also have to think of Simon. In his portfolio, as of June 30, 2022, Simon reported ownership or interest in 198 properties in the United States, including 94 malls, 69 premium outlets, 14 mills, six lifestyle centers and 15 other retail properties. 37 states and Puerto Rico. I’ve seen the debate over whether the mall was dead versus long live at the mall for a long time and with such a large stake in whether or not this is true, Simon is a great one to watch. On his most recent call, David Simon, president, chief executive officer and chairman, pointed out that approximately 1,300 leases were signed, representing more than four million square feet in the quarter. “Nearly 40% of our total leasing activity in the first six months of the year has been new deal volume. This is about 25% more than last year,” he said.
my question: Have leases continued to increase this past quarter and if so, by how much?
Underarmor-Reporting Thursday Before Markets Open
Canada Goose-Reporting Wednesday Before Market Open
Croix-Reporting Thursday Before Market Opening
Why: Each of these brands has one thing in common for them: long-standing brand/consumer loyalty. Just last month, Crocs celebrated its 20th anniversary by bringing “Croctober” to its fans. The entire month was a love letter to fans that included gifts and surprises. On October 23, Crocs celebrated Croc Day and released a limited-edition Croc Day Clog. Under Armor has had some struggles lately and has reported revenue beat and EPS misses in the last quarter. Recently, Telsi Advisory Group warned that inventory could be a strain on the company. And finally, Canada Goose reported beats EPS and revenue in its last quarter.
my question: Was the brand loyalty win for all three of them this past quarter?
Clorox-Reporting Tuesday After Market Close
Why: It wasn’t that long ago that cleaning and disinfecting products flew off the shelves and were never seen again. Some things have stabilized in that department, but Clorox has faced some challenges. Most recently, the company had to recall 37 million bottles of its Pine-Sol products due to potential bacterial contamination and last quarter, it reported a down forecast.
Regarding the always elusive supply chain challenges, EVP and CFO Kevin Jacobsen said that despite holding inventory in the past, “we expect the supply chain to still be challenged, but certainly not to the extent we have seen in the past.” Experienced over 12 years. 18 months. As a result, we’re going to be able to pull down our inventory levels broadly across the enterprise. ,
my question: Have the supply chain problems become more stable since the last report, and how did the recall impact the company’s bottom line?
Although the above companies are just a few to name a few, I also have CVS Health, AirBNB, Uber, Estee Lauder and PayPal on my radar this week.
Credit: www.forbes.com /