Macy’s (M) – The retailer reported adjusted quarterly earnings of $ 1.29 per share, well above the consensus estimate of 19 cents, with revenue also exceeding expectations. Macy’s reported better-than-expected same-store sales growth, raised its annual sales guidance and also announced a share buyback and reinstatement of its dividend. Stocks jumped 3.7% in pre-market.
Kohl’s (KSS) – Kohl’s fell 2.6% pre-release despite quarterly results beating analysts’ forecasts. Kohl’s reported adjusted quarterly earnings of $ 2.48 per share, well above the consensus estimate of $ 1.21.
Tapestry (TPR) – The company behind the Coach and Kate Spade brands topped estimates by 5 cents with adjusted quarterly profit of 74 cents per share and above-estimate revenue as reopening economies around the world boosted demand of luxury goods. Tapestry also restored its dividend, but stocks fell 2.3% in pre-market trading.
Petco (WOOF) – The pet products retailer beat estimates by 5 cents with adjusted quarterly profit of 25 cents per share and earnings that also beat analysts’ expectations. Petco also raised its earnings and revenue outlook for the full year.
BJ’s Wholesale (BJ) – The warehouse retailer beat upper and lower estimates for its most recent quarter, gaining adjusted 82 cents per share for the second quarter, 17 cents above estimate. He also reported unexpected growth in same-store sales.
Robinhood (HOOD) – Robinhood fell 9.9% in the pre-market after the company behind the popular trading app warned of a slowdown in trading activity in the current quarter. In its first report as a state-owned company, Robinhood announced that its quarterly revenue increased 131% from the previous year, due to an increase in cryptocurrency activity.
Cisco Systems (CSCO) – The network equipment and services company beat estimates by 2 cents with adjusted quarterly earnings of 84 cents per share and higher than estimate revenue as well. Cisco gave a profit forecast for the current quarter that is below analysts’ expectations, due to supply chain issues, and the shares lost 1.4% in pre-market trading.
Bath & Body Works (BBWI) – Shares of the personal care retailer rose 2.7% in pre-market trading, after beating Street’s forecast in its first quarterly report since L Brands established Victoria’s Secret and renamed itself Bath & Body Works.
Victoria’s Secret (VSCO) – Shares of the womenswear company plunged 8.6% pre-market, after reporting quarterly sales below analyst expectations. Victoria’s Secret saw improvement in profit margins as it kept inventory tight and ran fewer promotions.
Nvidia (NVDA) – The graphics chip maker topped estimates by 3 cents with adjusted quarterly profit of $ 1.04 per share, while revenue also exceeded estimates. Nvidia shares gained 1.4% pre-market after forecasting better-than-expected earnings for the current quarter.
Toyota Motor (TM) – The automaker’s shares fell 3.1% in pre-market trading, following a report from Japan’s Nikkei News service that said Toyota would cut September production by 40% due to of the global shortage of chips.
Wells Fargo (WFC) – The bank reversed a previous decision to end revolving lines of credit, following complaints from customers. However, Wells Fargo will not offer these lines of credit to any new customers. Shares fell 1.7% in the pre-market.
Red Robin Gourmet Burgers (RRGB) – Shares of the restaurant chain fell 9.4% in pre-market trading after posting an unexpected quarterly loss and below-expectations earnings. Red Robin said a labor shortage resulted in reduced hours of operation for some restaurants during the quarter.