Earnings Preview: Affirm, Gap, Marvell, Nordstrom

After U.S. markets closed on Tuesday, Toll Brothers beat earnings per share (EPS) and revenue estimates. The homebuilder topped the EPS estimate by 31% and revenue rose year over year by 7.7%. Guidance for the company’s full-year deliveries was increased to 9,500 to 9,600 units. Shares traded up about 1.1% shortly after Wednesday’s opening bell.

Urban Outfitters beat the EPS estimate by nearly 24% and the revenue estimate by 1.8%. Revenue was up 7.5% year over year. Same-store sales rose 4.9%. The stock traded up 1.8%.

Before markets opened on Wednesday, Bath & Body Works essentially matched the consensus estimate for revenue and beat the EPS estimate by 30%. Sales fell 3.6% year over year. Shares traded down about 2% early Wednesday.

Foot Locker met Wall Street’s consensus EPS estimate but missed on revenue by about 1%. Sales fell 9.9% year over year, and the company issued downside guidance for fiscal year EPS and revenue. Worse, Foot Locker suspended its dividend payment. The stock was hammered early Wednesday, trading down by about 35%.

Kohl’s posted a quarterly per-share profit that was more than double the consensus estimate, but it missed the revenue estimate by about 2.2%. Sales fell 4.8% year over year. Shares traded up 0.8%.

Peloton reported a per-share loss 70% worse than expected while posting slightly better-than-expected revenue. The company also issued downside guidance for the first quarter of its 2024 fiscal year, citing a decline in its subscription fitness program. Shares traded down more than 21%.

Autodesk, Dollar Tree, Nvidia and Petco are expected to report quarterly results after markets close Wednesday or before they open again on Thursday.

Here is a look at what analysts expect from four firms reporting quarterly results later on Thursday. No notable reports are due out Friday morning.

Affirm

Since posting a 12-month low in late December, shares of payment processor Affirm Holdings Inc. (NASDAQ: AFRM) have risen by more than 55.4%. Even that sharp increase was not enough to overcome the decline the stock suffered last year. Shares still trade down nearly 52% for the past year.

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