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Recent Articles
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Campbell Soup’s Sovos Acquisition Helps Power Fiscal Fourth Quarter Results
Sep 3, 2024
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Image Source: Campbell Soup.
Looking to fiscal 2025, Campbell’s net sales are expected to expand 9%-11% thanks to a twelve-month contribution of Sovos Brands, offset in part by the divestiture of Pop Secret. Organic net sales are expected to be flat to up 2%, which reflects positive volume/mix compared to last year. Adjusted EBIT growth is targeted at 9%-11%, including Sovos and the impact of the divestiture of Pop Secret. Adjusted earnings per share growth is expected in the range of 1%-4%, inclusive of Sovos acquisition and Pop Secret divestiture, to $3.12-$3.22 (versus $3.23 consensus).
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Lululemon Lowers 2024 Outlook
Aug 30, 2024
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Image: Lululemon’s shares have come under pressure recently.
Looking to 2024, Lululemon now expects net revenue in the range of $10.375-$10.475 billion, representing growth of 8%-9%, below consensus numbers and lower than its initial guidance of $10.7-$10.8 billion. Diluted earnings per share is now expected to be in the range of $13.95-$14.15 for the year, down from previous guidance of $14.27-$14.47. We have no plans to add Lululemon to any newsletter portfolio.
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Dividend Increases/Decreases for the Week of August 30
Aug 30, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Best Buy Reports Better Than Expected Q2 Results; Raises Bottom Line Outlook
Aug 29, 2024
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Image: Best Buy’s shares are bouncing back on an improved earnings outlook.
Looking to all of fiscal 2025, Best Buy's revenue is now expected in the range of $41.3-$41.9 billion (was $41.3-$42.6 billion) on comparable sales declines of 3% to 1.5%, compared to prior guidance for comparable sales to decline 3% to flat. Management noted that weakness in appliances, home theater and gaming was the main driver for the decline. Though the revised revenue performance wasn’t great news, management increased its non-GAAP diluted earnings per share guidance for fiscal 2025 to the range of $6.10-$6.35, up from prior guidance of $5.75-$6.20. Shares yield 3.7% at the time of this writing.
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