Friday's Morning Movers: ROST, DECK & TTWO Report Earnings

Indexed: 2026-05-22

[00:00:00]Get Diane King Hall is here this second talking about Ross Stores because it has been a week of retail. Really important to get how consumers are behaving. How are these stores faring? And the very latest from Ross Stores.

[00:00:13]>> We've got our eye on the consumer all week with our retail detail in focus this week and the story that we're seeing is the momentum within the discount retailers continues. When you look at Ross Stores, similar to what we saw with TJX, they beat expectations. We are seeing shares rally right now. Big move higher up six more than six and a half percent right now for Ross Stores.

[00:00:36]They're raising their full year outlook after this much stronger than expected first quarter. Uh they saw revenue surge 21% to more than $6 billion. The street was just looking for 5.62 billion.

[00:00:50]Adjusted earnings per share coming in at 202. We were only looking for a buck 70, so big move there. Comps jumped 17% Nicole. The street was only looking for 9% growth there. So huge move there on comparable sales growth. Now they're they're projecting full year comparable sales growth of between 6 to 7% that's up majorly from their previous guidance.

[00:01:13]Before now they were guiding for it between 3 to 4%. They also lifted their earnings expectations. Earnings guidance lifted to a range of 750 to 774 per share. That's also well above expectations. So they're firing on all cylinders here. The CEO saying this is about customer traffic. They saw an increase in customer traffic.

[00:01:31]Um improved store in store experience they highlighted. They flagged marketing efforts. They talked about the value focus there. We see that with these uh budget brands. Um and uh they also noted that the tax refunds from the one big beautiful bill helped give consumers an extra boost here. You see Alice after analyst speaking of boost boost their price targets on Ross Stores. All right, look and hey this is now the 52 week high. So, you went from 124 up to 232 here. I mean, take it. That's a nice move of 52% like you said. Okay, let's take a look at Deckers. So, Deckers this one you know, I I it's had a strong quarter.

[00:02:13]I just the reaction so far this year has been muted. Once again, muted today. The stock off a little bit off by a half of a percent. Um this one's been a head-scratcher to me because they have strong numbers. They've been doing great on Hoka, on Uggs.

[00:02:29]Uh but to take you to run you through the numbers, adjusted earnings per share coming in 96 cents better than expected.

[00:02:35]Revenue 1.12 billion also better than expected. The company highlighting this is another record year for demand for both Hoka and Ugg. They're staying strong despite, you know, some concerns about the consumer. Um sales in fact rose 10% for revenue.

[00:02:54]Um you know, After hours it did receive a warm reaction uh where investors did initially cheer the results. So, we'll see. We'll continue to watch this one to see if the if the run-up comes back.

[00:03:05]Hoka again the big growth engine here of Hoka sales climbing 15% uh for Deckers. So, that topped expectations. We know that there's been brand momentum when you look around on the feet of people here in New York. You either see Hoka or On. Uh so, you know, you continue to see that story here. Um one of the softer areas was the other brands category. Um but again, Hoka and Uggs have been the standout here. Uh Nicole, Uggs was up uh sales up 9%.

[00:03:32]>> Yep, I brought my Uggs this weekend for the summer house because it's freezing in New York. So, I think I might need them. Okay, last but not least, Take-Two earnings. I really interesting had a great conversation yesterday with the Wedbush analyst. Grand Theft Auto 6 and everything else. Let's hear a little bit about that.

[00:03:47]>> We know that whether people are an investor or a gamer, they've been looking for this release. So, GTA 6 is still a focus here for Take-Two.

[00:03:57]Uh they have reiterated the launch date.

[00:04:00]The launch date, November. November 19th, 2026. They're confirming that that is still the launch date. In terms of how it performed, adjusted EPS coming at 80 cents, that's better than expected.

[00:04:11]Revenue, touch better, almost in in line with expectation, 1.58 billion. Street was looking for 1.57 billion. Now, the stock had initially rallied but they did give her some weaker than expected fiscal 2027 bookings guidance.

[00:04:25]Uh so, with the bookings guidance, they're guiding for annual bookings between 8 and 8.2 billion. Analysts were looking for more than that. They were looking for touch above 9 billion here.

[00:04:36]So, that's one of the kind of cause for concerns here. Um but again, they did do better than expected and they're sticking with their timeline on GTA 6 with which many uh consumers and investors have been waiting for this one to hit the street.

[00:04:52]It's pretty exciting. I mean, uh gaming hasn't been Some of the charts in gaming have not been particularly great, but we know gaming is such a big part of life and and still will be ever going, you know what I mean? And the gay whole GameStop merger, I don't know. I hadn't heard anything about that eBay talk from last week. I I didn't hear one thing.

[00:05:11]I'm going to have to look that up, Diane. Good to see you, Diane.

[00:05:15]You're on with all the latest.