Tuesday, April 3, 2018

107 Largest US Retailing Corporations With Dec 2017, Jan 2018 or Feb 2018 Quarter Ends Posted 4Q 2017 Total Earnings of $34.508 Bil, Up 24% From Their 4Q 2016 Total Earnings of $27.751 Bil ........................................................................................ But the Clear Problem Here is That $17.449 Bil or 51% of Their 4Q 2017 Total Reported Earnings of $34.508 Bil Were Directly Courtesy of the US Federal Income Tax Existing Debt Forgiveness Feature Included in the US Trump Tax Cuts Act ........................................................................................ When All Three Largest Trump Tax Effects Are Excluded (Income Tax Benefit From Tax Debt Forgiveness of $17.449 Bil, Income Tax Expense From the Mandatory Foreign Earnings Repatriation Toll Tax of $6.404 Bil and the Income Tax Expense From the Decline in Value of Deferred Income Tax Assets of $0.953 Bil), As-Adjusted 4Q 2017 Total Earnings Were $24.416 Bil, Down 12% From Their 4Q 2016 Total Earnings of $27.751 Bil

From SEC filings, below here is Net Income (Loss) From Continuing Operations for the 4Q 2017 and the 4Q 2016 as well as the Trump Tax Cuts Act (TTCA) 4Q 2017 US Federal Income Tax Earnings Effects for the 107 largest US Retailing Corps with Stock Market Caps of at least $1 Bil which have already released their 4Q 2017 Earnings.  I included several large privately-held US Retailing Corporations in these 107 Companies.  Excluded were 2 Corps which haven't released their Feb 2018 Quarter Earnings yet.

 Here are the SEC SIC Codes for each of the Retailing Group of Companies included in the chart below:

52006RETAIL-BUILDING MATERIALS, HARDWARE, GARDEN SUPPLY
52116RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS
52712RETAIL-MOBILE HOME DEALERS
53112RETAIL-DEPARTMENT STORES
53312RETAIL-VARIETY STORES
53992RETAIL-MISC GENERAL MERCHANDISE STORES
54002RETAIL-FOOD STORES
54112RETAIL-GROCERY STORES
54122RETAIL-CONVENIENCE STORES
55002RETAIL-AUTO DEALERS & GASOLINE STATIONS
55312RETAIL-AUTO & HOME SUPPLY STORES
56009RETAIL-APPAREL & ACCESSORY STORES
56219RETAIL-WOMEN'S CLOTHING STORES
56519RETAIL-FAMILY CLOTHING STORES
56619RETAIL-SHOE STORES
57002RETAIL-HOME FURNITURE, FURNISHINGS & EQUIPMENT STORES
57122RETAIL-FURNITURE STORES
57312RETAIL-RADIO, TV & CONSUMER ELECTRONICS STORES
57342RETAIL-COMPUTER & COMPUTER SOFTWARE STORES
57352RETAIL-RECORD & PRERECORDED TAPE STORES
58105RETAIL-EATING & DRINKING PLACES
58125RETAIL-EATING PLACES
59002RETAIL-MISCELLANEOUS RETAIL
59129RETAIL-DRUG STORES AND PROPRIETARY STORES
59402RETAIL-MISCELLANEOUS SHOPPING GOODS STORES
59442RETAIL-JEWELRY STORES
59452RETAIL-HOBBY, TOY & GAME SHOPS
59602RETAIL-NONSTORE RETAILERS
59612RETAIL-CATALOG & MAIL-ORDER HOUSES
59902RETAIL-RETAIL STORES, NEC

US GAAP US GAAP
Net Net TTCA TTCA TTCA
Corp Income Income US Decline  Foreign 
Quarter (Loss) (Loss) Federal  in Value of  Earnings 
End Dec 17 Dec 16 Income Deferred  Repatriation 
When Jan 18 Jan 17 Tax Income  Toll 
US Retailing Corps State TTCA or Feb 18 or Feb 17 Better Debt Tax  Tax 
Stock Market Caps $1 Bil+ City Hqs HQs Signed Quarter Quarter (Worse) Forgiveness Assets  Expense 
mils $ mils $ mils $ mils $ mils $ mils $
CVS Health Woonsocket RI Dec 17            3,287            1,707       1,580            1,500
Walmart Bentonville AR Jan 18            2,363            3,986     (1,623)                2,100               -          (1,900)
Express Scripts St Louis MO Dec 17            2,331            1,440          891            1,381
Starbucks Seattle WA Dec 17            2,250               752       1,498                 77           (212)
Amazon com Seattle WA Dec 17            1,856               749       1,107               789
Home Depot Atlanta GA Jan 18            1,779            1,744            35               147           (400)
Liberty Interactive Englewood CO Dec 17            1,476               324       1,152            1,485
Walgreen's Boots Alliance Deerfield IL Feb 18            1,349            1,062          287               610           (794)
Macy's Cincinnati OH Jan 18            1,321               472          849               571
Target Minneapolis MN Jan 18            1,102               821          281               381             (29)
Dollar Tree Chesapeake VA Jan 18            1,040               322          718               562
Sherwin Williams Cleveland OH Dec 17               897               203          694               608
TJX Cos Framingham MA Jan 18               877               678          199               281           (193)
Kroger Cincinnati OH Jan 18               853               502          351               922
Publix Super Markets Lakeland FL Dec 17               767               544          223               224
Costco Issaquah WA Feb 18               713               521          192               165           (152)
Dollar General Goodlettsville TN Jan 18               712               414          298               311
McDonalds Chicago IL Dec 17               699            1,193        (494)               500        (1,200)
L Brands Columbus OH Jan 18               664               632            32               159             (67)
Restaurant Brands Intl Miami FL Dec 17               578               301          277               420           (119)
Lowes Mooresville NC Jan 18               554               663        (109)                 -               (56)             (22)
Kohls Menomonee Falls WI Jan 18               468               252          216               136
Ross Stores Dublin CA Jan 18               451               301          150                 55
Yum Brands Louisville KY Dec 17               436               308          128                 -             (264)           (170)
Neiman Marcus Group Ltd Dallas TX Jan 18               373             (117)          490               384
Best Buy Richfield MN Jan 18               364               607        (243)                 -               (74)           (209)
Signet Jewelers Ltd Akron OH Jan 18               343               288            55                 65
Penske Automotive Group Bloomfield Hills MI Dec 17               329                 83          246               302             (55)
OReilly Automotive Springfield MO Dec 17               302               246            56                 53
Aramark Philadelphia PA Dec 17               292               125          167               208               (3)
AutoZone Memphis TN Jan 18               290               237            53               137             (25)
Burlington Stores Burlington NJ Jan 18               241               126          115                 93
Darden Restaurants Orlando FL Feb 18               219               166            53                 77
Ulta Beauty Bolingbrook IL Jan 18               208               140            68                 38
The Gap San Francisco CA Jan 18               205               220          (15)                   2             (59)
Michaels Companies Irving TX Jan 18               203               195              8               (4)             (11)
CDW Corp Vernon Hills IL Dec 17               195               103            92                 96
Dunkin' Brands Group Canton MA Dec 17               195                 56          139               145               (2)
Casey's General Stores Ankeny IA Jan 18               193                 23          170               167
Advance Auto Parts Roanoke VA Dec 17               185                 62          123               155             (11)
Party City Holdco Elmsford NY Dec 17               185                 85          100                 91               (1)
KAR Auction Services Carmel IN Dec 17               173                 46          127               103             (11)
Wendy's Dublin OH Dec 17               159                 29          130               165             (22)
Dillards Little Rock AR Jan 18               158                 57          101                 74
Fastenal Winona MN Dec 17               152               115            37                 31               (7)
AutoNation Ft Lauderdale FL Dec 17               152               116            36                 41
Nordstrom Seattle WA Jan 18               151               201          (50)                 -               (51)
Murphy USA El Dorado AR Dec 17               125                 44            81                 89
CarMax Richmond VA Feb 18               122               153          (31)                 (33)
Dick's Sporting Goods Coraopolis PA Jan 18               116                 90            26                   5               (6)
Tractor Supply Co Brentwood TN Dec 17               110               124          (14)                 -                 (5)
Group 1 Automotive Houston TX Dec 17               110                 31            79                 73
Rush Enterprises New Braunfels TX Dec 17               106                 12            94                 83
Big Lots Columbus OH Jan 18               105                 90            15                 -                 (5)
CoPart Dallas TX Jan 18               103                 66            37                   1             (11)
Williams-Sonoma San Francisco CA Jan 18                 96               145          (49)                 -               (28)             (13)
Domino's Pizza Ann Arbor MI Dec 17                 93                 73            20                 -                 -  
Cracker Barrel Lebanon TN Jan 18                 91                 53            38                 30
Lithia Motors Medford OR Dec 17                 89                 51            38                 33
Dine Brands Global Glendale CA Dec 17                 86                 21            65                 74
Sally Beauty Holdings Denton TX Dec 17                 83                 56            27                 34             (11)
Abercrombie & Fitch New Albany OH Jan 18                 76                 50            26                   2             (22)
Ollie's Bargain Outlet Harrisburg PA Jan 18                 70                 24            46                 31
FirstCash Fort Worth TX Dec 17                 68                 37            31                 29               (2)
Five Below Philadelphia PA Jan 18                 67                 50            17                 -                 (2)
Weis Markets Sunbury PA Dec 17                 64                 41            23                 49
Tiffany New York NY Jan 18                 62               158          (96)                 -               (24)             (41)
Cheesecake Factory Calabasas Hills CA Dec 17                 58                 32            26                 39
Foot Locker New York NY Jan 18                 49               189        (140)                 -                 -               (99)
Floor & Décor Holdings Smyrna GA Jan 18                 48                 17            31                 18
Chipotle Mexican Grill Denver CO Dec 17                 44                 16            28                   6
Asbury Automotive Group Duluth GA Dec 17                 43                 67          (24)                   8
Buckle Kearney NR Jan 18                 42                 36              6               (1)
Sprout's Farmers Market Phoenix AZ Dec 17                 40                 17            23                 19
Dave & Busters Entertainment Dallas TX Jan 18                 36                 27              9                   8
Systemax Port Washington NY Dec 17                 32                 12            20                 -               (10)
Texas Roadhouse Louisville KY Dec 17                 29                 21              8                   4               (1)
Papa John's Intl Louisville KY Dec 17                 29                 33            (4)                   7
Chico's FAS Ft Myers FL Jan 18                 28                 14            14                   8
Brinker Intl Dallas TX Dec 17                 25                 35          (10)               (9)
Rite Aid Camp Hill PA Feb 18                 25                 58          (33)
IAC/Interactive Corp New York NY Dec 17                 23               114          (91)                 -                 (1)             (63)
BMC Stock Holdings Atlanta GA Dec 17                 18                 10              8                   4
Bloomin' Brands Tampa FL Dec 17                 17                 (3)            20                 -                 (2)
PriceSmart San Diego CA Feb 18                 14                 27          (13)               (1)             (13)
Insight Enterprises Tempe AZ Dec 17                 14                 21            (7)                 -                 (8)               (6)
Jack In The Box San Diego CA Dec 17                 13                 35          (22)                 -               (31)
DSW Inc Columbus OH Jan 18                 12                 31          (19)             (10)
At Home Group Plano TX Jan 18                 10                 15            (5)             (16)
Wingstop Dallas TX Dec 17                 10                   4              6                   5
Diplomat Pharmacy Flint MI Dec 17                   7                 (1)              8                   8    
Stitch Fix San Francisco CA Jan 18                   4                 -                4                 -                 (5)
Urban Outfitters Philadelphia PA Dec 17                   1                 64          (63)                 -               (12)             (53)
Tailored Brands Houston TX Jan 18                 -                 (30)            30                 -               (17)
RH Corte Madera CA Jan 18                 -                     9            (9)               (6)               (1)
Camping World Holdings Lincolnshire IL Dec 17                 (5)                 12          (17)                 -               (42)
Children's Place Seacaucus NJ Dec 17               (10)                 34          (44)                 -                 (6)             (46)
Shake Shack New York NY Dec 17               (11)                   5          (16)             (13)
Hudson Ltd East Rutherford NJ Dec 17               (35)                 34          (69)                 -               (40)
Carvana Tempe AZ Dec 17               (36)               (47)            11                 -  
Builder FirstSource Dallas TX Dec 17               (43)                   6          (49)                 -               (29)
Office Depot Boca Raton FL Dec 17               (48)                 55        (103)             (68)
Wayfair Boston MA Dec 17               (73)               (44)          (29)                 -                 (6)
Yum China Holdings Plano TX Dec 17               (85)                 90        (175)                 -               (34)           (130)
Overstock.com Midvale UT Dec 17               (97)                   3        (100)                 -               (25)             (41)
Gamestop Grapevine TX Jan 18             (106)               209        (315)             (32)             (10)
Liberty Expedia Holdings Englewood CO Dec 17          (1,546)            2,055     (3,601)               971           (144)
Total all 107          34,508          27,751       6,757 24%          17,449           (953)        (6,404)
Total all 107 Without TTCA          24,416          27,751     (3,335) -12%





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