September 11, 2020

Q2 2020 U.S. Retail Scorecard – Update September 11, 2020

by Jharonne Martis.

Ninety eight percent of companies in our Retail/Restaurant Index have reported Q2 2020 EPS. Of the 203 companies in the index that have reported earnings to date, 79% have reported earnings above analyst expectations, and 21% reported earnings below analyst expectations. The Q2 2020 blended earnings growth estimate is -42.9%.

The Q2 2020 blended revenue growth estimate is -3.7%. Seventy-one percent have reported revenue above analyst expectations, and 29% reported revenue below analyst expectations.

Exhibit 1: Refinitiv Earnings Dashboard

Source: I/B/E/S data from Refinitiv

Find out more about our estimates with the deepest global views – Refinitiv I/B/E/S Estimates.

Retail earnings this week

As the second-quarter earnings season comes to an end, over 70% of retailers beat earnings and revenue expectations. The Refinitiv Retail and Restaurant Earnings Index showed that while overall Q2 growth was anemic, it could’ve been a lot worse. Still, there are some names that stood out. Below is a list of the strongest Q2 2020 earnings growth rates so far.

It is evident from Q2 earnings results that health and safety are a top priority for consumers as they bought workout and outdoor equipment. Hibbett Sports, Vista Outdoor and Dick’s Sporting Goods all saw a spike in their e-commerce sales and posted eye-popping earnings growth rates.

The top results show that consumers continue to order online, are buying robot vacuums such as those sold by iRobot, and are going to the discounters for everyday essentials. Moreover, in order to avoid public transportation, consumers purchased cars during the pandemic. Murphy USA is already benefiting as new car owners fill up their gas tanks. The gasoline retailer is also likely to continue benefiting from Walmart’s new Plus membership.

 Exhibit 2: Strongest Earnings Growth Rates – Q2 2020

Source: I/B/E/S data from Refinitiv

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