This week's biggest % winners & losers: May 17 - 21, 2021 (wk 20)

This week's biggest % gainers/losers The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: RETA (110.5 +41.03%), TRXC (2.19 +28.53%), QTNT (4.43 +21.04%), ODT (3.47 +20.49%), ABEO (1.64 +18.48%), KZR (6.16 +17.46%), TXMD (1.23 +16.67%), SLDB (4.07 +16.62%), STIM (14.89 +16.51%)
• Industrials: ENPH (143.72 +19.99%), DSX (4.36 +16.58%)
• Consumer Discretionary: UXIN (3.56 +30.4%), PLCE (92.13 +18.66%)
• Information Technology: DDD (27.29 +22.21%)
• Energy: LPI (52.77 +26.61%), CRC (29.56 +22.48%), OAS (85.87 +20.07%), TELL (2.62 +18.55%)
• Consumer Staples: BRFS (5.03 +25.94%)

This week's top % losers

• Healthcare: IOVA (17.95 -30.48%), OMER (14.97 -17.75%), CHRS (13.56 -10.41%), CLVS (5.26 -10.39%)
• Materials: SQM (42.69 -18.39%), CENX (12.96 -14.23%)
• Consumer Discretionary: CWH (40.37 -11.8%), HZO (53.6 -11.3%), KSS (54.42 -11.26%), TAL (43.41 -10.94%), RL (121.66 -10.86%), SNBR (99.31 -10.75%), BKE (40.45 -10.63%), AEO (32.88 -10.07%)
• Financials: BSAC (19.69 -15.33%)
• Energy: RES (5.07 -12.74%)
• Utilities: ENIC (2.99 -18.31%)

=Ralph Lauren (RL) reported earnings on Thur 20 May 21 (b/o)

 

Ralph Lauren beats by $1.09, beats on revs; co reinstates its regular quarterly cash dividend of $0.6875/share; North America comps +3%

Reports Q4 (Mar) earnings of $0.38 per share, excluding non-recurring items, $1.09 better than the S&P Capital IQ Consensus of ($0.71); revenues rose 1.0% year/year to $1.29 bln vs the $1.21 bln S&P Capital IQ Consensus.

In retail, comparable store sales in North America were up 3%, including a 25% increase in digital commerce partly offset by a 2% decline in brick and mortar stores.

The Company continues to note the ongoing uncertainty and evolving situation surrounding COVID-19 impacting the timing and path of recovery in each market, including the potential for further resurgences of the pandemic across various markets. The full year Fiscal 2022 and first quarter guidance excludes restructuring-related and other charges, as described in the "Non-U.S. GAAP Financial Measures" section of this press release.

For Fiscal 2022, the Company expects constant currency revenues to increase approximately 20% to 25% to last year on a 52-week comparable basis. The 53rd week is expected to contribute approximately 140 basis points to revenue growth. Foreign currency is expected to negatively impact revenue growth by approximately 50 to 70 basis points in Fiscal 2022.

For the first quarter, revenues are expected to increase approximately 140% to 150% in constant currency to last year. Foreign currency is expected to positively impact revenue growth by approximately 250 basis points. This outlook reflects confirmed government-mandated lockdowns and other COVID-related restrictions across several key markets, notably in Europe and Japan. The Company's current outlook could be negatively impacted if government-mandated lockdowns or restrictions are extended or more severe measures are applied. First quarter results include the operating performance of Club Monaco, with the sale expected to be completed by the end of the quarter.

Previously announced actions related to the Fiscal 2021 Strategic Realignment Plan included a reduction of the Company's global workforce in Fiscal 2021, transitioning the Chaps brand to a fully licensed business model, plans to further right-size and consolidate corporate offices and distribution centers and identifying up to 10 stores subject to potential closures through Fiscal 2022. The Company concluded the final stage of the plan with its brand portfolio review. On May 13th, the Company announced a definitive agreement to sell Club Monaco to Regent, L.P. The move will better position Ralph Lauren to focus its resources on its core brands as part of its Next Great Chapter elevation strategy. Club Monaco revenues were approximately $100 million in Fiscal 2021 and $210 million in Fiscal 2020, prior to the pandemic.

The Company also announced that its Board of Directors approved to reinstate its regular quarterly cash dividend on the Company's Common Stock, previously suspended due to the COVID-19 pandemic. The quarterly cash dividend is $0.6875 per share for a total annual dividend amount of $2.75 per share. The next quarterly dividend is payable on July 9, 2021 to shareholders of record at the close of business on June 25, 2021.

Earnings this week : May 17 - 21, 2021 (wk 20)

Monday (May 17)

• Morning:  TWNK RIDE PRPL
• Afternoon: DM DNMR FSR GAN  ONTX TME  XONE 

Tuesday (May 18)

• Morning: AGFY BIDU BZUN DOYU HD HUYA IQ KC M MBT  NTES SE WMT
• Afternoon:  AGYS STE TTWO TCOM

Wednesday (May 19)

• Morning:  ADI CAE EXP DAVA JD LOW TGT TJX VIPS
• Afternoon:  CSCO CPRT GDS BEKE KEYS KNBE LB SCVL SQM SNPS ZTO

Thursday (May 20)

• Morning: WMS BJ BRC CSIQ HRL KSS LSPD MNRO WOOF RL PLCE TGI
• Afternoon:  AINV AMAT DECK FLO PANW ROST

Friday (May 21)  

• Morning:  BAH BKE DE FL ROLL VFC

=Ralph Lauren (RL) reported earnings on Thur 7 Nov 19 (b/o)

Ralph Lauren beats by $0.16, reports revs in-line; guides Q3 revs below consensus; reaffirms FY20 revs guidance

Reports Q2 (Sep) earnings of $2.55 per share, excluding non-recurring items, $0.16 better than the S&P Capital IQ Consensus of $2.39; revenues rose 0.9% year/year to $1.71 bln vs the $1.69 bln S&P Capital IQ Consensus.

• Adjusted operating income was $254 million and adjusted operating margin was 14.9%, 100 basis points above the prior year, excluding restructuring-related and other charges from both periods.
• North America revenue in the second quarter decreased 1% to $881 million. In retail, comparable store sales in North America were up 2%, driven by a 2% comp increase in brick and mortar stores and 2% increase at ralphlauren.com. North America wholesale revenue decreased 6%.
• Asia revenue in the second quarter increased 4% to $255 million on a reported basis and 5% in constant currency, driven by solid growth in retail. Comparable store sales in Asia increased 1%, reflecting growth in both brick and mortar and digital commerce operations, partly offset by declines in Hong Kong.

Co issues downside guidance for Q3, sees Q3 revs of about flat to $1.726 in 3Q19 vs. $1.75 bln S&P Capital IQ Consensus.

• Foreign currency is expected to pressure revenue growth by approximately 70 to 90 basis points in the third quarter of Fiscal 2020.
• Operating margin for the third quarter of Fiscal 2020 is expected to be flat to down about 20 basis points in constant currency.

Co reaffirms guidance for FY20, continues to expect net revenue growth of 2% to 3% (implying $6.46-6.53 bln) on a constant currency basis but now expects results at the low end of this range, primarily based on intensifying headwinds in Hong Kong vs. $6.4 bln S&P Capital IQ Consensus.

• The Company continues to expect operating margin for Fiscal 2020 to increase 40 to 60 basis points in constant currency.

=Ralph Lauren (RL) reported earnings on Wed 23 May 18 (b/o)

Ralph Lauren beats by $0.07, beats on revs; Q4 comps +4%; provides Q1 and FY19 revenue guidance(116.61 )

• Reports Q4 (Mar) earnings of $0.90 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $0.83; revenues fell 2.3% year/year to $1.53 bln vs the $1.49 bln Capital IQ Consensus.
• Co reports Q1 comparable store sales of +4%.
• For Fiscal 2019, net revenue is expected to decrease low single-digits in constant currency.Foreign currency is expected to have minimal impact on revenue growth in Fiscal 2019. In the first quarter of Fiscal 2019, the Company expects net revenue to be flat to down slightly in constant currency. Foreign currency is expected to benefit revenue growth by approximately 150-200 basis points in the first quarter of Fiscal 2019. Operating margin for the first quarter of Fiscal 2019 is expected to be up slightly in constant currency. Foreign currency is estimated to benefit operating margin by 20-40 basis points in the first quarter.

=Ralph Lauren (RL) reported earnings on Thur 2 Nov 2017 (b/o)

Ralph Lauren beats by $0.10, beats on revs; guides Q3 rev above ests; reaffirms FY18 sales ex-FX; raises margin gudiance

• Reports Q2 (Sep) adj. earnings of $1.99 per share, $0.10 better than the Capital IQ Consensus of $1.89; revenues fell 8.6% year/year to $1.66 bln vs the $1.64 bln Capital IQ Consensus, driven by initiatives to increase quality of sales, reduce promotional activity, and elevate our distribution, as well as brand exits and lower consumer demand. The second quarter revenue decline is in line with the Company's guidance of a 9%-10% revenue decline, excluding ~40 basis points of negative foreign currency impact. FX benefited revenue growth by ~40 basis points in the second quarter, which is better than guidance, as foreign exchange rates moved favorably during the quarter.
  • North America Revenue. North America revenue in the second quarter decreased 16% to $877 million. The decline was due to lower sales in both the retail and wholesale channels, driven by distribution and brand exits, a strategic reduction in shipments and promotional activity to increase quality of sales, as well as due to lower consumer demand. On a constant currency basis, comparable store sales in North America were down 9%, including a 6% decline in brick and mortar stores and an 18% decrease in e-commerce, primarily due to a planned reduction in promotional activity and lower traffic.
• In the third quarter of Fiscal 2018, the Company expects net revenue to be down 6%-8%, excluding the impact of FX. Foreign currency is expected to have ~160-170 basis points of benefit to revenue growth in the third quarter of Fiscal 2018. Consensus calls for Q3 rev down 6.7% (guide down 6.4-4.3%). Operating margin for the third quarter of Fiscal 2018 is expected to be down 50-70 basis points, excluding the impact of foreign currency. Foreign currency is estimated to benefit operating margin by ~10-20 basis points in the third quarter.
• For Fiscal 2018, the Company continues to expect net revenue to decrease 8% to 9%, excluding the impact of FX. Foreign currency is now expected to have ~80 basis points of benefit to revenue growth in Fiscal 2018 versus previous guidance of minimal impact, given recent movements in foreign exchange rates. Based on the first half performance, the Company now expects operating margin for Fiscal 2018 to be 9.5%-10.5%, excluding the impact of foreign currency, and versus previous guidance of 9.0%-10.5%. Foreign currency is now expected to have minimal impact on operating margin for Fiscal 2018, versus previous guidance of 40-50 basis points of pressure, due to recent movements in foreign exchange rates. 

=Ralph Lauren (RL) reported earnings on Tue 8 Aug 2017 (b/o)

Ralph Lauren beats by $0.17, reports revs in-line; affirms FY18 constant currency outlook, provides Q2 guidance

• Reports Q1 (Jun) earnings of $1.11 per share, excluding non-recurring items, $0.17 better thanthe Capital IQ Consensus of $0.94; revenues fell 13.2% year/year to $1.35 bln vs the $1.34 bln Capital IQ Consensus.
• The first quarter revenue decline is in line with the Company's guidance of down low double-digits excluding 225 basis points of negative foreign currency impact. Foreign currency pressured the first quarter revenue growth by approximately 130 basis points. The foreign currency impact is less than guidance as foreign exchange rates moved favorably during the quarter.
• Gross margin was 63.2% on both a reported and adjusted basis, 210 basis points above the prior year on an adjusted basis. The gross margin increase was driven by initiatives to improve quality of sales through reduced promotional activity, favorable geographic and channel mix shifts, and improved product costs. Gross margin improvement was partially offset by unfavorable foreign currency effects of 50 basis points in the first quarter.
• Inventory at the end of first quarter Fiscal 2018 was $860 million, down 31% to the prior year period, driven by both restructuring actions and improvement in operating processes, including a proactive pullback in receipts and moving towards a demand driven supply chain.
• Guidance:
  • FY18:
    • The Company's full year guidance on a constant currency basis is unchanged. The full year Fiscal 2018 and second quarter guidance excludes restructuring-related and other charges expected to be recorded primarily in connection with the Company's Way Forward plan.
    • For Fiscal 2018, the Company continues to expect net revenue to decrease 8% to 9%, excluding the impact of foreign currency. Based on current exchange rates, foreign currency is expected to have minimal impact on revenue growth in Fiscal 2018; this is more favorable than the previous guidance of 150 basis points of negative impact given recent movements in foreign exchange rates.
    • The Company continues to expect operating margin for Fiscal 2018 to be 9.0%-10.5%, excluding the impact of foreign currency. Based on current exchange rates, foreign currency is expected to pressure operating margin for Fiscal 2018 by approximately 40-50 basis points, less than the previous guidance of 50-75 basis points due to recent movements in foreign exchange rates.
  • Q2:
    • In the second quarter of Fiscal 2018, the Company expects net revenue to be down 9-10%, excluding the impact of foreign currency. Based on current exchange rates, foreign currency is expected to have approximately 40 basis points of negative impact on revenue growth in the second quarter of Fiscal 2018.
    • Operating margin for the second quarter of Fiscal 2018 is expected to be up 40-60 basis points, excluding foreign currency impacts. Foreign currency is estimated to pressure operating margin by approximately 40 basis points in the second quarter.

=Ralph Lauren (RL) reported earnings on Thur 2 Feb 2017 (b/o)

Ralph Lauren beats by $0.22, reports revs in-line; guides MarQ revenue slightly above consensus; CEO Stefan Larsson to step down :

• Reports Q3 (Dec) earnings of $1.86 per share, excluding non-recurring items, $0.22 better than the Capital IQ Consensus of $1.64; revenues fell 11.9% year/year to $1.71 bln vs the $1.71 bln Capital IQ Consensus.
• In terms of guidance for Q4 (Mar), co expects revenue to be down mid-teens vs consensus of a -17% decline.
• Co also announces that CEO Stefan Larsson and the company have mutually agreed to part ways. Stefan Larsson will stay on until May 1, 2017. A search for a new CEO will be conducted. Co will continue to execute the Way Forward plan announced in June 2016, and CFO Jane Nielsen will lead execution of the plan until a new CEO is hired.
• Co says it continued to drive the execution of the Way Forward plan -- refocusing and evolving its iconic product core, cutting lead times, and aligning supply with demand -- to put the foundation in place to drive demand back to the business.
• Specifically, in DecQ, the co re-focused and evolved its iconic core product offering for Fall 2017; continued to drive quality of sales up by moderating discount levels across retail and wholesale; lowered inventory levels by 23% to better match demand; reduced SKUs for Spring 2017 by over 20%; significantly improved its ability to match supply to demand by reducing pre-market commitments to 15% of inventory buys for Fall 2017 from 60% for Fall 2016; platformed all of its core fabrics, accounting for about 50% of unit volume; co remains on track to get halfway to its goal of a 9-month lead time by the end of this fiscal year and 90% there by the end of next fiscal year.
• Co expects its FY17 restructuring activities to result in approximately $180-$220 mln of annualized expense savings related to its initiatives to streamline the organizational structure and right-size its cost structure and real estate portfolio. Co expects to incur restructuring charges of about $400 mln as a result of the FY17 restructuring activities and a $150 mln inventory charge associated with its Way Forward plan. These charges are expected to be substantially realized by the end of FY17.

=Ralph Lauren (RL) reported earnings on Wed 10 Aug 2016 (b/o)

Ralph Lauren beats by $0.17, beats on revs; guides Q2 rev above consensus; reaffirms FY17 outlook :

• Reports Q1 (Jun) earnings of $1.06 per share, excluding non-recurring items, $0.17 better thanthe Capital IQ Consensus of $0.89; revenues fell 4.1% year/year to $1.55 bln vs the $1.53 bln Capital IQ Consensus. The decline in reported net revenues was in line with the guidance provided in June of a mid-single digit revenue decline.
  • On a reported basis, international net revenue rose 10% in the first quarter, offset by an 11% decline in North America.
  • Wholesale Revenue. In the first quarter of Fiscal 2017, wholesale segment revenue decreased 5% on both a reported and constant currency basis to $607 million, driven by a decline in North America as the U.S. department store channel continued to experience challenging traffic trends, partially offset by an increase in Europe.
  • Retail Revenue. Retail segment revenue decreased 3% on both a reported and constant currency basis to $907 million in the first quarter, driven by a comparable store sales decline that was partially offset by non-comparable store sales growth. Consolidated comparable store sales decreased 6% on a reported basis and 7% in constant currency during the first quarter, primarily due to lower traffic trends.
• Co sees Q2 rev down mid to high single digits vs. -10% consensus; Operating margin for the second quarter of Fiscal 2017 is expected to be 200-250 basis points below the comparable prior year period. Initiatives under the Way Forward Plan are expected to have a greater impact in the second half of Fiscal 2017 than the second quarter.

=Ralph Lauren (RL) to cut jobs, shut shops, lower real estate

(Reuters) - Luxury fashion retailer Ralph Lauren Corp (RL) said it would cut jobs, close stores and reduce its real estate as part of a sweeping plan to lower costs and revive sales growth.

The company had about 493 directly operated retail stores and employed about 26,000 people, roughly 15,000 of who work full time as of April 2.

The retailer's sales had fallen in every quarter in fiscal 2016, leading to a full-year sales decline of nearly 3 percent.

Ralph Lauren said it expects net revenue for the current fiscal year to fall in the low-double digit percentage range, hurt in part by store closures, a pullback in inventory receipts and weak traffic.

The company brought in Stefan Larsson late last year in the hope that he could replicate his success of reviving sales at Gap Inc's (GPS) Old Navy.

Ralph Lauren said it expects to record restructuring charges of up to $400 million and an inventory reduction-related charge of up to $150 million, mostly in the current fiscal year.

The company expects the restructuring measures to result in about $180-$220 million of annualized expense savings.

=Ralph Lauren (RL) reported earnings on Thur 12 May 2016 (b/o)

Ralph Lauren beats by $0.05, reports revs in-line :

• Reports Q4 (Mar) earnings of $0.88 per share, $0.05 better than the Capital IQ Consensus of $0.83; revenues fell 0.7% year/year to $1.87 bln vs the $1.86 bln Capital IQ Consensus. The decline in reported net revenues was in line with the guidance provided in February of a 0-2% reported revenue decline and included ~110 basis points of negative impact from foreign currency effects. In constant currency, international net revenue rose 3% in the fourth quarter, offset by a 1% decline in the Americas that was due to proactive measures taken in the U.S. to clear end-of-season inventories related to the Fall season.
  • In Q4, wholesale segment sales decreased 5% on a constant currency basis and 6% on a reported basis to $942 million, primarily due to a decline in sales in North America.
  • Retail segment sales increased 7% on a constant currency basis and 6% on a reported basis to $889 million in the fourth quarter, driven by the benefit of a 53rd week of sales, new store expansion and e-commerce growth. On a 13-week to 13-week basis, consolidated comparable store sales decreased 5% in constant currency and 6% as reported during the fourth quarter.

=Ralph Lauren (RL) reported 4Q earnings on Thur 4 Feb 2016 (before open)

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Ralph Lauren beats by $0.16, misses on revs; guides Q4 revs below consensus (lowers FY16 outlook) :

• Reports Q3 (Dec) earnings of $2.27 per share, excluding non-recurring items, $0.16 better than the Capital IQ Consensus of $2.11; revenues fell 4.3% year/year to $1.95 bln vs the $2.03 bln Capital IQ Consensus; -1% ex-FX.
  • This was below the guidance provided in November of 0-2% reported revenue growth. While international net revenue grew 6% in constant currency in the third quarter, North America revenue declined 4% primarily due to above-average temperatures for most of the Fall and Holiday period, a decline in foreign tourist traffic and product assortment challenges in the Lauren brand. The decline in reported net revenues included ~300 basis points of negative impact from FX.
• Co issues downside guidance for Q4, sees Q4 revs of flat to -2% to ~$1.85-1.95 bln vs. $1.96 bln Capital IQ Consensus. Operating margin for the fourth quarter of Fiscal 2016 is expected to be ~400-450 basis points below the comparable prior year period, primarily due to proactive action the Company is taking to clear end-of-season inventories related to the sales challenges the Company faced in the third quarter, as well as infrastructure investments and negative foreign exchange impacts.
• Co expects consolidated net revenues for Fiscal 2016 to be up ~1% in constant currency and down ~3% on a reported basis. This compares to previous guidance of flat on a reported basis and up 3-5% in constant currency. Adj. operating margin for Fiscal 2016 is now expected to be down 290-320 basis points (from down 180-230 bps).

Ralph Lauren (RL) reported earnings on Thur 5 Nov 2015 (before open)

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Ralph Lauren beats by $0.39, reports revs in-line; guides Q3 revs in-line; guides FY16 revs in-line :

• Reports Q2 (Sep) earnings of $2.13 per share, $0.39 better than the Capital IQ Consensus of $1.74; revenues fell 1.2% year/year to $1.97 bln vs the $1.95 bln Capital IQ Consensus; constant FX rev +4% vs. +3-5% guidance.
• Co issues in-line guidance for Q3, sees Q3 revs +0-2% to ~$2.03-2.07 bln vs. $2.04 bln Capital IQ Consensus Estimate.
  • Based on current exchange rates, foreign currency will have an approximate 250 basis point negative impact on revenue growth. Operating margin for the third quarter of Fiscal 2016 is expected to be ~200-250 basis points below the comparable prior year period, primarily due to negative foreign currency effects and infrastructure investments.
• Co issues in-line guidance for FY16, sees FY16 revs of flat YoY from $7.62 bln vs. $7.6 bln Capital IQ Consensus Estimate.
  • Co is maintaining its Fiscal 2016 outlook. The company expects consolidated net revenues for Fiscal 2016 to be ~flat on a reported basis and increase by 3-5% in constant currency (from mid single digit growth). Based on current exchange rates, foreign currency will have an ~400 basis point negative impact on Fiscal 2016 revenue growth. Operating margin for Fiscal 2016 is still expected to be 180-230 basis points below the prior year's level due to negative foreign currency effects. 

©Artremis / Eva Sawicka (11/5/15)