It was a big morning of earnings for a few big retailers! While we expected Walmart and Home Depot to be solid, the Macy’s earnings were more than a bit eye opening.
- Walmart beat expectations by delivering $138.31 Billion in their first Quarter of the year. Another solid quarter for a gigantic retailer, this train is rolling along right now.
- Home Depot crushed their numbers and saw a 32% increase in sales. The home improvement trend is showing no signs of slowing down.
- Macy’s was the surprise, with sales reaching $4.71 Billion and easily beating the $4.37 Billion estimate. They missed on earnings per share, but the top-line trend is a sign that shoppers are coming back.
Other top stories:
With the CDC guidance changing, and more and more states lifting their mask mandates, we are going to hit a really interesting transition period as retailers work to relax their requirements but still with a focus on the safety of associates and shoppers. Target, CVS and Starbucks have come out with recent company statements, and we fully expect many to follow in the coming weeks.
And working to capitalize on recent trends, Pizza Hut has now officially jumped on the plant based protein trend.
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