With Wall Street facing a holiday-shortened schedule, next week sees a sparse list of corporate earnings. Still, a number of international names will come into the spotlight, including reports from one of the UK’s largest grocery chains and one of Asia’s largest retailers.
Later in the week, a smattering of retail, industrial and chemical companies are due to report as well. Clothing maker Levi Strauss & Co. ( NYSE: LEVI ) will provide one of the highlights. Discount retailer PriceSmart ( NASDAQ: PSMT ) and chemical product maker WD-40 ( NASDAQ: WDFC ) are also among the bigger names slated to announce their results.
Below is a curated list of companies due to update investors on their financial figures during the week:
Monday July 4
Markets are closed for the July 4 holiday in the US.
Tuesday, July 5
J. Sainsbury plc ( OTCQX:JSNSF )
British grocery chain J. Sainsbury ( OTCQX:JSNSF ) will offer its first quarter trading statement on Tuesday, two days ahead of its annual shareholder meeting. The earnings report comes shortly after warnings about shifting consumer spending offered by the CEO of rival Tesco.
"We are seeing higher frequency shopping trips, so there's an elevation in the number of shopping trips, we are seeing basket sizes coming down a little bit," Tesco’s chief told reporters on June 29.
The second-largest grocer in the UK by sales, Sainsbury’s management recently made the counter-trend move to cut prices on 150 of the most-purchased products while raising wages for employees. The earnings report on Tuesday will be the first for the company since its late April price-cut announcement.
Also Reporting: Azz Inc. ( AZZ )
Wednesday, July 6
Aeon ( OTCPK:AONNY )
Asia’s second largest retailer by sales, behind only JD.com ( JD ), Aeon ( OTCPK:AONNY ) continues the string of international companies to report in the holiday shortened week for US firms. The nearly 96-year-old Japanese conglomerate’s stock has declined sharply in 2022, falling nearly 30% since the start of the year amid persistent issues with global supply chains and lingering high levels of COVID infection .
Meanwhile, macro factors in Japan have raised concerns about the company’s results as well.. A recent Bloomberg consensus projects the Japanese economy will contract by over 1%, although recent data have shown a more mild pullback, with activity bolstered by consumer spending.
PriceSmart ( PSMT )
Discount retailer PriceSmart ( PSMT ) is tentatively forecast to report on Wednesday, per Nasdaq data.
The earnings release expected from the San Diego-based warehouse club follows strong results from discount peers in both Dollar General ( DG ) and Dollar Tree ( DLTR ) as well as positive prints from warehouse club contemporaries Costco ( COST ) and BJ’s Wholesale Club ( BJ ). Thus far in 2022, PriceSmart ( PSMT ) stock’s performance has been in the middle of the pack for low-cost retailers. While shares have fallen just over 3%, that showing has dramatically outperformed the broader market.
? Consensus EPS Estimates: $0.82
? Consensus Revenue Estimates: $951.87M
? Earnings Insight: PriceSmart ( PSMT ) has beaten EPS estimates in 6 of the past 8 quarters while surpassing revenue expectations in 7 of those quarters.
Also reporting: Simulations Plus ( SLP )
Thursday, July 7
Levi Strauss & Co. ( LEVI )
After Thursday’s close, storied denim-wear maker Levi Strauss & Co. ( LEVI ) will update investors with its fiscal second quarter report. Shares of the nearly 170-year-old San Francisco-based jeans giant have fallen over 33% since the start of 2022, touching a 52-week-low shortly prior to its earnings release.
Still, options markets are anticipating a significant move on earnings day. According to Bloomberg data, derivatives market action implies a 6.7% move post-earnings. Meanwhile, Bank of America advised clients it expects upside for the stock.
"LEVI benefits from a strong management team (CEO/CFO have been with the company for roughly a decade and have navigated other challenging consumer environments),” the note read . “LEVI also has a diversified supply chain, a benefit when navigating challenges such as the recent COVID related issues in Vietnam and China."
- Consensus EPS Estimates: $0.23
- Consensus Revenue Estimates : $1.43B
- Earnings Insight: Levi’s has beat revenue expectations in each of the past 8 quarters, while missing EPS estimates only once in that period.
WD-40 Company ( WDFC )
WD-40 ( WDFC ) is also set to report after Thursday’s market close, issuing its fiscal third quarter results. Shares of the manufacturer of the eponymous mechanical lubricant have slightly outperformed the market thus far in 2022, with a 17% decline compared to an over 20% drawdown for the index. Lately, however, the stock has seen strength, with a recent 7% rebound in the month of June.
Going into its earnings report, short interest has risen sharply for WDFC. According to Bloomberg data, WD-40’s ( WDFC ) short-interest ratio rose to 23% in the week prior to the print. Meanwhile, analyst Deep Value Ideas has taken a bearish view ahead of its quarterly report, questioning whether the firm might have “rust beneath the surface.”
- Consensus EPS Estimates: $1.28
- Consensus Revenue Estimates: $142.80M
- Earnings Insight: WD-40 ( WDFC ) has a checkered past in terms of meeting earnings estimates, beating EPS estimates in 5 of the past 8 quarters with revenue coming in above consensus in 5 of 8 quarters as well.
Also reporting: Helen of Troy ( HELE ) and The Greenbrier Companies ( GBX )
Friday:
No earnings of note
For further details see:
Earnings Week Ahead: Levi’s, WD-40, and more