We'll get earnings from Macy's, Gap and Nordstrom, the Philadelphia Federal Reserve manufacturing gauge and existing home sales on Thursday.
Don Emmert | AFP | Getty Images1. Retail earnings
Retailers Macy's, Nordstrom and Gap report third quarter earnings on Thursday, continuing a volatile week for retail earnings. With Target soaring on earnings, and Kohl's tanking, investors will be watching which retailers get ahead of the highly promotional and warmer-than-usual quarter. Credit Suisse is expectingto report a loss of 1 cent, with same-store sales slowing 1.5%. In the third quarter last year, Macy's earned 27 cents per share and comp sales rose 3.3%.
"We still think 2020 [estimates] need to be revised significantly lower before the stock can stabilize," said Credit Suisse research analyst Michael Binetti in a note to clients.will earn 62 cents per share and same-store sales will drop 3.6%, according to Credit Suisse. In the same period in 2018, the department store company earned 42 cents per share, largely due to a credit card refund write down. Comparable sales rose 2.3%.
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