Q1 2022 U.S. Retail Scorecard – Update May 16, 2022

So far, 134 of the companies in our Retail/Restaurant Index have reported their EPS results for Q1 2022, or 66% of the total members in the index. Of the group that has reported its earnings to date, 71% announced earnings that beat analysts’ expectations, while 4% delivered on-target results and 25% reported earnings that fell below estimates. The Q1 2022 blended earnings growth estimate is -17.8%.

The Q1 2022 blended revenue growth estimate for this index is 10.1%. Of those companies to have reported their quarterly results so far, 73% announced revenue that exceeded analyst expectations and the remaining 27% reported that their revenue fell below analysts’ forecasts.

Exhibit 1: Refinitiv Earnings Dashboard

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

This week: Q1 2022 earnings

The chart below shows B this week’s Q1 digital sales growth estimates. The data suggest that business volume is holding up in spite of the very difficult comparisons that many businesses face from year-ago growth rates.

Exhibit 2: E-commerce Sales Estimates/Results –Q1 2022

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

In this next chart, you can see estimates of earnings and same store sales expectations for retailers that are scheduled to release their Q1 2022 results this week.

Exhibit 3: Same Store Sales and Earnings Estimates–Q1 2022

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