Diamonds and Dogs
Back to School season is upon us. Burlington Stores (BURL), a retailer known for their coats, is up 7% following better than expected earnings. The company beat by 21 cents on strong comparable store sales up 3.5% year over year. Going forward the company raised third quarter and full year estimates due to fresh inventories that position them well for Back to School.
Spam and jelly in the dumps. The maker of spam, Hormel (HRL) and the maker of jams and jellys, JM Smuckers (SJM) are both down 7% following earnings, near 52 week lows and down 20% over the last year. Both missed earnings estimates as sales declined year over year. Can't blame Amazon for these two retailer woes.
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