Reuters Insider - U.S. Day Ahead: American Eagle, Dollar Tree try to keep retail hot streak going

Pacific Ventures

05/03/2019 21:16

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Source: Reuters Insider

Description: American Eagle and Dollar Tree are among the retailers reporting
quarterly results Wednesday. They will try to build on the momentum created by
the strong reports from Target and Kohl's out Tuesday.
Short Link: https://reut.rs/2VDjqMe

Video Transcript:

This is your Day Ahead, I'm Leah Duncan. Strong results from Kohl's and Target
gave retailers a boost on Tuesday. We'll see if Dollar Tree and American Eagle
can help the cause on Wednesday. But we also get the latest on jobs and trade.
The ADP report on private sector hiring in February comes out. Forecasters
looking for growth near 200,000. The estimate is a little higher than the
private payrolls estimate in the government jobs report due out on Friday.
Also, the trade deficit is seen widening to almost $58 billion in December,
that would be the largest shortfall in more than 10 years. Next up, Dollar
Tree reports before the market opens. Analysts looking for the discount
retailer to post a decline in sales and a small gain in profit. Activist
investor Starboard Value disclosed an almost 2% stake in the company in
January and called for a sale of its underperforming Family Dollar business.
Yahoo Finance reported two weeks ago that Dollar Tree has no plans to sell
those stores. Shares have fallen 7% over the past year. American Eagle also
reporting before the opening bell. In January, the apparel retailer reaffirmed
its quarterly profit forecast. It also said comparable store sales were on
track to rise 6%. Analysts are looking for those sales to come in slightly
above 5%. The stock has gained 3% since March of 2018. I'm Leah Duncan and
this is Reuters