|Bid||16.69 x 3100|
|Ask||16.95 x 2200|
|Day's range||16.53 - 17.20|
|52-week range||15.11 - 31.39|
|Beta (5Y Monthly)||0.71|
|PE ratio (TTM)||7.79|
|Earnings date||26 Feb 2020 - 2 Mar 2020|
|Forward dividend & yield||0.97 (5.70%)|
|1y target est||16.35|
(Bloomberg Opinion) -- Many of the retail industry’s challenges in 2020 will be familiar, such as adapting to the rise of e-commerce and trade-related uncertainty from Washington. But the lineup of CEOs navigating those conditions will include many new faces.There were more CEO exits in the retail industry in 2019 than in any year since at least 2010, according to data from Challenger, Gray & Christmas.(1)The leadership shake-ups in retail don’t appear to fit any particular pattern. There were carefully choreographed, harmonious baton passes, such as Best Buy Co. naming Corie Barry to succeed Hubert Joly. There were bombshells such as Steve Easterbrook’s abrupt ouster from McDonald’s Corp. over an inappropriate relationship with an employee. There were rebukes of poor performance, such as Art Peck’s departure from Gap Inc. And there were some left-field surprises, such as Tractor Supply Co. poaching Hal Lawton from Macy’s Inc.Retail’s recent bout of turbulence at the top is not such an outlier in corporate America; Bloomberg Opinion’s Stephen Mihm recently noted an uptick in CEO departures overall in the past few months. But it adds a certain intrigue about which retailers will end up in the winners’ circle next year.Here are predictions for how some of the more high-profile episodes of C-suite musical chairs will play out.CEO changes that are reason for optimism: By the time activist investor pressure finally led Bed Bath & Beyond Inc. to dump longtime CEO Steven Temares, the move was long overdue. But the board has scored by luring Mark Tritton — the chief merchant at its on-fire competitor, Target Corp. — for the job. Tritton’s experience creating covetable private-label brands and reimagining store displays are exactly what the big-box home goods chain needs. Meanwhile, though Gap has not yet named a permanent successor for the now-departed Peck, the company may be better off without a leader who tried but failed for five years to revive its flagship brand.CEO changes that are reason for pessimism: The biggest headscratcher comes from Nike Inc., which announced that CEO Mark Parker is to be replaced in January by John Donahoe, a former ServiceNow and eBay Inc. executive. Sure, Donahoe knows Nike’s business from serving on its board, but his tech-centric resume is a weird fit for a company that thrives on its marketing savvy and merchandising expertise. There is potential for trouble, too, in the leadership plans of Under Armour Inc., where founder Kevin Plank is set to relinquish the CEO title to COO Patrik Frisk in the new year. Plank is to become chairman and “brand chief,” and Frisk will still report to Plank. This set-up is reminiscent of when Ralph Lauren first tried to step back from the CEO role of his namesake company while staying on in a creative position. The fashion mogul clearly had trouble releasing the reins, and it cost the company a highly capable CEO, Stefan Larsson.(2)Elsewhere in the apparel world, Ascena Retail Group Inc., corporate parent of Ann Taylor, Lane Bryant and other brands, probably will regret tapping an insider, Gary Muto, to replace David Jaffe. This company needs the kind of total overhaul that an outsider would be better equipped to pull off.CEO changes that promise business as usual: Electronics giant Best Buy is in good hands under Barry, a veteran executive of the chain who had served as its CFO and chief strategic growth officer. Thing is, the electronics giant was already in good hands under Joly, who had steered the chain through an improbable comeback. So expect steadiness for the retailer in the year ahead —by no means a bad thing. Same goes for McDonald’s: Even though it said goodbye to a successful CEO under far more soap-operatic circumstances, his replacement, Chris Kempczinski, is a close lieutenant poised to stick to the same playbook that has fueled the fast-food giant’s recent strength.CEO change wild card: It’s understandable that Tapestry Inc.’s board had lost confidence in recently departed CEO Victor Luis. The company that used to be named Coach has been struggling to boost the Kate Spade brand it acquired in 2017, a bad sign for a company intent on transforming into a luxury conglomerate. Luis has been replaced by Jide Zeitlin, a longtime Tapestry board member. He has little experience in the retail or fashion worlds, which is concerning. But his finance industry chops could prove invaluable in future deal-making — an essential ingredient in the company’s quest for growth.(1) The Challenger data in the chart is for the retail sector only. The apparel industry, which includes manufacturers such as Nike, is a separate category that also saw a particularly high number of exits in 2019. So far, apparel has 12 CEO exits, matching the 2015 annual total that was the highest this decade. Restaurants such as McDonald’s are included in the entertainment and leisure category in Challenger’s data.(2) Lauren seems to have settled into his new role alongside current CEO Patrice Louvet, who took that job in 2017 after Larsson’s exit.To contact the author of this story: Sarah Halzack at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Ben Rains dives into Lululemon (LULU) and Nike (NKE) to see if investors should consider buying either stock with the sportswear retailers set to report their quarterly results soon...
Lululemon has historically traded heavily around earnings. So, should investors consider buying LULU stock with the athleisure apparel giant set to report its Q3 fiscal 2019 results on Wednesday, December 11?
Klaus-Themed Post Offices Encourage Shoppers to Spread Joy to Neighbors and Loved Ones
Today, on Giving Tuesday, Jessica Alba helps raise awareness for Janie and Jack’s national donation campaign with Baby2Baby, a non-profit organization where she is a proud ambassador and board member, that provides children, ages 0-12 years, living in poverty with the basic necessities that every child deserves. As a call to action, to give back this holiday season, customers will have the opportunity to donate while checking out at Janie and Jack stores nationwide and online at janieandjack.com through December 31. "As a Baby2Baby Board Member, Ambassador and mom of three, I am committed to helping children living in poverty receive the basic essentials they deserve," said Jessica Alba.
While investing in any of the retail stocks could reward investors throughout Cyber Week, a diverse approach in a basket form can also be a great choice.
Gap (GPS) witnesses soft performance across all brands as well as weak traffic trends. Also, weak comps, strained margins, and higher expenses are added concerns.
Early data into the Yahoo Finance newsroom indicates Black Friday and holiday sales will break records. According to Adobe Analytics online retail sales on Thursday are expected to hit $4.4 billion. That would be up 18.9% year-over-year. But those profits won’t necessarily help those troubled retailers who are expected to close brick and mortar stores.
The Gap, Inc. (NYSE:GPS) shares fell 4.5% to US$16.94 in the week since its latest quarterly results. It looks like a...
Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries. U.S. President Donald Trump told Fox News a trade deal was "potentially very close" following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement.
U.S. stocks rose Friday, recovering after three consecutive session of losses. Comments from Chinese President Xi Jinping underscored Beijing’s hopes of getting a trade deal done with the U.S.
Wall Street rose on Friday with help from positive comments from Washington and Beijing about progress on efforts to reach a U.S.-China trade deal ,and from upbeat domestic economic data. U.S. President Donald Trump told Fox News a trade deal was "potentially very close" following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement.
Gap (GPS) reports better-than-expected sales and earnings results in third-quarter fiscal 2019. It lowers sales and comps outlook for fiscal 2019 but reaffirms earnings view.
Investors will get a pulse on the health of the consumer, and retail stocks like Nordstrom and Gap will be active during Friday’s session following earnings announcements. And, Foot Locker will release its quarterly results ahead of the opening bell Friday.
Gap (GPS) delivered earnings and revenue surprises of 3.92% and 1.20%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Gap Inc. jumped after the company’s interim leader pledged to fix operational issues and stick with plans to spin off its Old Navy discount chain.The company now sees comparable sales, a key metric for retailers, declining in the mid-single digits for fiscal 2019 -- worse than its previous forecast for a low-single digit decline. Gap also sees net sales falling by a few percentage points. See more results here.Key InsightsGap is seeking a reset after the departure of CEO Art Peck after his turnaround efforts failed to reignite sales growth. Robert Fisher, the son of Gap’s co-founders who is taking the reins on an interim basis, said he will “aggressively” look to fix what’s not working, while moving forward with the spinoff of Old Navy.Much like Macy’s Inc., Gap has cleared the table of bad news by earlier pre-announcing poor third-quarter performance across its family of apparel brands. This prompted the company to ratchet down its full-year sales forecast Thursday.The results show Gap is afflicted by the general malaise that’s pummeled the apparel sector and department stores this year. Kohl’s Corp. and Urban Outfitters Inc. posted disappointing results earlier this week, raising concerns about the strength of consumer confidence in the U.S.Market ReactionThe shares rose 1.4% in late trading Thursday. Gap stock has fallen 37% this year, one of the worst performers on the S&P 500 Index.Click here for company statement.To contact the reporters on this story: Jordyn Holman in New York at firstname.lastname@example.org;Matthew Boyle in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.