Unlike large retailers such as Walmart, which seem to be somewhat optimistic on the consumer, several smaller consumer-facing names appear to be painting a more troubling picture.
Take a look at some of the companies that have cut or posted disappointing forward guidance this week:
Petco: It slashed its full-year revenue and earnings per share guidance, with both falling way below Street consensus.
Brinker: The Chili's parent reported fiscal year earnings guidance that was well below expectations. The move came as its latest quarterly report showed weak gross and operating margins for the previous quarter.
Nordstrom: The department store drastically slashed its full-year earnings per share guidance, as the company works on "aggressively right-sizing" its inventory.
Advance Auto Parts: The company cut its full-year earnings and revenue guidance, noting that its do-it-yourself business suffered in the latest quarter due to rising fuel prices and broader inflation, and the company expects weakness to continue for the rest of the year.
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