
Wall Street Breakfast
Retail stocks punished after holiday updates
Jan 13, 2025
The ICR retail conference reveals disappointing holiday sales forecasts, hitting major retailers hard. Oil prices surge due to new sanctions on Russian exports. Nvidia expresses concerns over a new AI diffusion rule affecting national security. Meanwhile, Moderna faces a sharp decline in its revenue outlook for 2025, while Caterpillar receives a positive forecast. The impact of earnings season on tech stocks remains crucial amid these fluctuating market conditions.
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Quick takeaways
- Macy's has lowered its sales projections amidst mixed holiday performance, while Lululemon shows promising growth exceeding earlier revenue estimates.
- Rising oil prices due to U.S. sanctions on Russia indicate potential global supply disruptions and increase the likelihood of Federal Reserve interest rate hikes.
Deep dives
Retail Conference Updates
The ICR Retailer Conference has sparked significant updates on holiday sales from various retailers. Macy's anticipates net sales falling at the lower end of their previously projected range, while Shake Shack reports strong preliminary results with a 4.3% increase in Same Shack sales for Q4. Abercrombie & Fitch faces a stock decline despite increasing its guidance, as traders react negatively to its results only matching expectations. In contrast, Lululemon expects fourth-quarter revenue to surpass earlier estimates, indicating robust performance during the holiday season.
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