Key facts
- Macy's reported Q1 comparable sales up 3%.
- Macy's raised its full-year adjusted EPS guidance to $2.00-$2.20.
- Macy's raised its full-year net sales guidance to $21.5 billion-$21.75 billion.
- UBS maintains a Sell rating on Macy's stock.
- Kohl's Corp. reported a decline in sales.
- Torrid's stock dropped 21% after issuing weak fiscal 2026 net sales guidance.
- Torrid's fiscal 2026 net sales guidance is $940M-$960M.
- Zumiez forecasts Q2 sales between $210 million and $215 million.
- Zumiez projects fiscal year 2026 operating margin growth of 50 to 100 basis points.
- Medtronic's fiscal year 2027 adjusted EPS guidance is $5.90-$6.00.
- Medtronic announced a 1.4% increase in its quarterly dividend to $0.72 per share.
- ChargePoint reported a 7% increase in Q1 subscription revenue.
Retailers presented a mixed financial picture with varying outlooks. Macy's reported first-quarter results that surpassed analyst expectations, with comparable sales increasing by 3%. The company subsequently raised its full-year guidance, projecting adjusted earnings per share (EPS) between $2.00 and $2.20, and net sales in the range of $21.5 billion to $21.75 billion. Despite these positive results, UBS maintains a Sell rating on Macy's stock, citing persistent concerns about the department store chain's market share and competitive positioning.
In contrast, other retailers faced challenges. Kohl's Corp. reported a decline in sales, with its financial performance negatively impacted by cautious guidance, suggesting ongoing difficulties. Torrid's stock experienced a significant drop of 21% following the issuance of weak fiscal year 2026 net sales guidance, projected between $940 million and $960 million, even though the company beat its first-quarter expectations. Torrid aims to expand its customer base to achieve its outlook. Zumiez announced mixed first-quarter results alongside a soft second-quarter forecast, which led to a decline in its stock price. The company anticipates second-quarter sales between $210 million and $215 million, attributing this projection to consumer pressures, and forecasts fiscal year 2026 operating margin growth of 50 to 100 basis points.
Beyond the retail sector, Medtronic reported strong fourth-quarter results, exceeding revenue and EPS estimates. However, the company's fiscal year 2027 adjusted EPS guidance of $5.90-$6.00 fell short of analyst expectations of $6.06, causing its stock price to decline. Medtronic also announced a 1.4% increase in its quarterly dividend to $0.72 per share. ChargePoint reported a 7% increase in first-quarter subscription revenue, a narrowed loss, and provided a strong outlook for the second quarter. In a separate development, Destination XL Group has mutually agreed with FullBeauty Brands Holdings Corp. to terminate their previously announced merger agreement.
Other companies reported notable financial movements. Clorox announced a 4% year-over-year increase in Q1 net sales to $1.95 billion and an 11% rise in diluted EPS to $1.09, leading the company to raise its full fiscal year 2024 net sales growth forecast to 3-5% and expecting FY24 diluted EPS between $4.53 and $4.83. Caleres beat its first-quarter earnings expectations, resulting in a stock price increase, despite prevailing challenges. GameStop reported higher first-quarter sales and earnings, exceeding analyst expectations. Freedom Broker downgraded Dollar General to a 'hold' rating and raised its price target to $140, following the company's upward revision of its fiscal 2026 profit and same-store sales growth projections. Truist analyst Scot Ciccarelli raised Ollie's Bargain Outlet's price target to $50 from $45, citing margin strength. C3.ai reported a 53% year-over-year revenue decline in Q4 fiscal 2026, yet surpassed analyst estimates with $51.6 million in revenue, and provided a fiscal year 2027 revenue outlook that edged above Wall Street's forecast. Weyerhaeuser Co reviewed its first-quarter business operations, navigating various market dynamics affecting its core segments.