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L Brands' first-quarter results revealed that Victoria's Secret and Pink continue to see negative declines despite deep promotions. Management blames restructuring but Jefferies sees competition and high inventory as larger problems at the company.
Kohl's first-quarter earnings, revenue and comp sales beat was overshadowed by the news that the company's calendar shift will weigh on comp sales for the second half of the year. Pre-market gains were quickly erased once the earnings call started and shares continued to fall during the day.
Kohl's surges more than 5% in pre-market trading after reporting its first-quarter earnings report. The American retailer beat earnings and comp sales estimates, proving once again that it is one of the most e-commerce and retail apocalypse resistant stores.
Victoria's Secret and PINK suffer from declining sales but this isn't a symptom of the retail apocalypse that took down stores like Toys 'R' Us. Rather, Nomura Instinet suggests the sister-stores have grown too large and are hitting their ceiling.
J.C. Penney misses on sales estimates, a result of this year's longer winter. Shares tumble more than 14% in pre-market trading as a result. The company met its loss of $0.22 a share estimate, but guidance for next quarter came in conservative.