Tuesday Tipsheet: Comps: H.Depot +3.3%, Dick’s +1.5%, Staples -4% | Wmart MBA’s | Target’s Parachute
“Home Depot US Comp Sales +3.3% in Q1” “The Home Depo reported first quarter of fiscal 2014 net earnings of $1.4 billion, or $1.00 per diluted share, compared with net earnings of $1.2 billion, or $0.83 per diluted share, in the same period of fiscal 2013. For the first quarter of fiscal 2014, diluted earnings per share increased 20.5 percent from the same period in the prior year.” Read more
“Home Depot Sales, Profit Grow, but Miss Views” by Michael Calia at WSJ. “The first quarter was impacted by a slow start to the spring selling season,” Chairman and Chief Executive Frank Blake said. “But we had solid results in non-weather impacted markets and expect our sales for the year to grow in line with the guidance we previously provided.” Read more
“Home Depot Q1 Earnings Call at 9am EST” Listen to the Webcast
“Dick’s Sporting Goods Reports Q1 Comp Sales Up 1.5%” ” Same store sales in the first quarter of 2014 for DICK’S Sporting Goods increased 2.3%, while Golf Galaxy decreased 10.4%. “Our difficulties this quarter were isolated to two categories: golf and hunting,” said Edward W. Stack, Chairman and CEO. “After a very challenging first quarter in golf last year, we expected some further headwinds and only modest improvement, but instead we saw a continued significant decline. In the case of hunting, we planned the business down based on last year’s catalysts, but it was even weaker than expected.” Read the release
“Dick’s Sporting Goods Q1 Earnings Call at 10am EST” Listen to the Webcast
“Target discloses ex-CEO’s golden parachute” by Nick Halter by Minneapolis/St. Paul Bus. Journal. “Steinhafel will get $21.3 million from the company, but will have to give back $5.4 million in enhanced early retirement benefits under a supplemental pension plan.” Read more
“Walmart plans to hire hundreds for big expansion of digital operations in CA” by George Avalos at Oakland Tribune via San Jose Mercury News. “The retail giant’s eCommerce unit has struck a deal to lease about 107,000 square feet on West California Avenue near the corner of Central Expressway and Mathilda Avenue. “We are planning to expand to about 1,000 employees in Sunnyvale,” said Bao Nguyen, a spokesman with Walmart Global eCommerce, whose operations are headquartered in San Bruno. At present, the eCommerce unit has about 550 employees in Sunnyvale at 600 W. California, Nguyen said.” Read more
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“Wal-Mart scours business schools for summer interns, top talent” by Kim Souza at The City Wire. “This year’s crop of finance and strategy interns were chosen from 300 candidates and are set to begin their 12-week stint in Bentonville on May 28. The MBA interns selected hail from prestigious business schools including, Northwestern University, Harvard, Massachusetts Institute of Technology, University of North Carolina, Dartmouth, University of Texas and Duke.” Read more
“How Target is Helping Cultivate Tomorrow’s Great Designers” at A Bullseye View. “Only 10 designers — or “incubators,” as they’re called — are chosen to participate in the prestigious program every few years, so if you’re name is on that list, you’re one to watch!” Read more
“Staples profit falls 44 percent on stronger dollar, store closures” “Comparable store sales, which exclude sales in Staples.com, decreased four percent, reflecting a four percent decline in traffic and flat average order size versus the prior year.” Read the release
“Office Depot, Inc. Launches Combined Weekly Ad for Office Depot, OfficeMax Stores” “Office Depot and OfficeMax retail customers saw something new in their newspapers Sunday: a single, combined insert representing great savings on products and services being offered at both brands’ retail stores.” Read the release
“Deloitte 2014 American Pantry Study: 86% of Consumers Have a Set of Brands They Consider & Purchase Whichever One is on Sale” See the report
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