My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments. It has nothing whatsoever to do with Company Operating Performance.
Of these 43 US Retailing Companies, 37 of them have either December, January or February fiscal year ends and thus have Audited Financial Statements earnings amounts below for Annual 2017, 2016 and 2015.
Then the pretax earnings trend headed downward, with the Predominately Audited Annual 2017 showing only a 1% pretax earnings growth over the Predominately Audited Annual 2016.
And then these pretax earnings deteriorated precipitously in 2018 .
In the most recent 9 months of 2018, the total Gold-Standard US GAAP pretax earnings declined by 9% from that in the prior nine-month period.
Even worse, in the most recent six months of 2018, the total Gold-Standard US GAAP pretax earnings declined by a much higher 15% from that in the prior six-month period.
Amazon was excluded below because its Amazon Web Services cloud segment generated $4.331 Bil of Operating Income in Annual 2017, which comprised more than all of Amazon's Consolidated Operating Income of $4.106 Bil. Also, no Pretax Income amounts were disclosed for its Online and Physical stores.
The chart below shows the Gold-Standard US GAAP Total Pretax Income (Loss) From Continuing Operations for the above respective periods as compared to the immediate prior periods for each of these stellar 43 US Retailing Companies.
Annual
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Annual
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Annual
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Annual
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2017
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2016
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2016
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2015
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Primarily
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Primarily
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Primarily
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Primarily
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Audited
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Audited
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Audited
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Audited
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US
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US
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US
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US
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US
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US
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US
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US
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GAAP
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GAAP
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GAAP
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GAAP
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GAAP
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GAAP
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GAAP
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GAAP
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Pretax
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Pretax
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Pretax
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Pretax
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Pretax
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Pretax
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Pretax
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Pretax
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Income
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Income
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Income
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Income
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Income
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Income
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Income
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Income
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(Loss)
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(Loss)
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(Loss)
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(Loss)
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(Loss)
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(Loss)
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(Loss)
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(Loss)
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6 Mos
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6 Mos
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9 Mos
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9 Mos
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Fiscal
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Fiscal
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Fiscal
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Fiscal
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Most
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Ended
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Ended
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Ended
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Ended
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Year
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Year
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Year
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Year
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Recent
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Sep
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Sep
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Sep
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Sep
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Ended
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Ended
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Ended
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Ended
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Audited
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Oct
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Oct
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Oct
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Oct
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Dec 17
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Dec 16
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Dec 16
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Dec 15
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FYE
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or
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or
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or
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or
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Jan 18
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Jan 17
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Jan 17
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Jan 16
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Fincl
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Nov
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Nov
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%
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Nov
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Nov
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%
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or
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or
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%
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or
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or
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%
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US Retailing Cos
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Sts
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2018
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2017
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Change
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2018
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2017
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Change
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Feb 18
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Feb 17
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Change
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Feb 17
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Feb 16
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Change
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mils $
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mils $
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mils $
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mils $
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mils $
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mils $
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mils $
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mils $
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| Home Depot | Jan 18 | 8,301 | 7,647 | 9% | 11,443 | 10,755 | 6% | 13,698 | 12,491 | 10% | 12,491 | 11,021 | 13% | |||
| McDonalds | Dec 17 | 4,177 | 4,881 | -14% | 6,065 | 6,688 | -9% | 8,574 | 6,866 | 25% | 6,866 | 6,556 | 5% | |||
| Walmart | Jan 18 | 2,974 | 7,485 | -60% | 5,796 | 12,159 | -52% | 15,123 | 20,497 | -26% | 20,497 | 21,638 | -5% | |||
| Walgreen's Boots Alliance | Aug 18 | 2,953 | 1,982 | 49% | 4,408 | 3,315 | 33% | 5,167 | 5,266 | -2% | 5,266 | 4,203 | 25% | |||
| Lowes | Jan 18 | 2,814 | 3,610 | -22% | 4,119 | 4,545 | -9% | 5,489 | 5,201 | 6% | 5,201 | 4,419 | 18% | |||
| Express Scripts | Dec 17 | 2,521 | 2,585 | -2% | 3,340 | 3,500 | -5% | 4,929 | 4,427 | 11% | 4,427 | 3,864 | 15% | |||
| Costco | Aug 18 | 2,384 | 2,355 | 1% | 3,455 | 3,320 | 4% | 4,306 | 3,671 | 17% | 3,671 | 3,558 | 3% | |||
| TJX Cos | Jan 18 | 2,040 | 1,912 | 7% | 2,995 | 2,744 | 9% | 3,857 | 3,723 | 4% | 3,723 | 3,658 | 2% | |||
| Starbucks | Sep 18 | 1,959 | 2,204 | -11% | 2,775 | 3,184 | -13% | 6,190 | 4,281 | 45% | 4,281 | 3,654 | 17% | |||
| Target | Jan 18 | 1,735 | 1,588 | 9% | 2,662 | 2,618 | 2% | 3,646 | 3,965 | -8% | 3,965 | 4,923 | -19% | |||
| Kroger | Jan 18 | 1,027 | 1,144 | -10% | 3,661 | 1,588 | 131% | 1,484 | 2,914 | -49% | 2,914 | 3,094 | -6% | |||
| Autozone | Aug 18 | 986 | 1,086 | -9% | 1,490 | 1,580 | -6% | 1,746 | 1,936 | -10% | 1,936 | 1,857 | 4% | |||
| Ross Stores | Jan 18 | 962 | 951 | 1% | 1,504 | 1,449 | 4% | 2,041 | 1,786 | 14% | 1,786 | 1,612 | 11% | |||
| Sherwin-Williams | Dec 17 | 954 | 937 | 2% | 1,258 | 1,243 | 1% | 1,528 | 1,595 | -4% | 1,595 | 1,549 | 3% | |||
| Dollar General | Jan 18 | 937 | 862 | 9% | 1,402 | 1,308 | 7% | 1,907 | 1,966 | -3% | 1,966 | 1,853 | 6% | |||
| O Reilly Auto | Dec 17 | 906 | 876 | 3% | 1,301 | 1,261 | 3% | 1,638 | 1,637 | 0% | 1,637 | 1,460 | 12% | |||
| Yum! Brands | Dec 17 | 891 | 835 | 7% | 1,400 | 1,182 | 18% | 2,274 | 1,345 | 69% | 1,345 | 1,253 | 7% | |||
| The Gap | Jan 18 | 738 | 803 | -8% | 957 | 1,041 | -8% | 1,424 | 1,124 | 27% | 1,124 | 1,471 | -24% | |||
| Restaurant Brands Intl | Dec 17 | 715 | 571 | 25% | 996 | 776 | 28% | 1,102 | 1,200 | -8% | 1,200 | 674 | 78% | |||
| Dollar Tree | Jan 18 | 678 | 699 | -3% | 885 | 1,013 | -13% | 1,704 | 1,329 | 28% | 1,329 | 448 | 197% | |||
| Best Buy | Jan 18 | 659 | 652 | 1% | 916 | 944 | -3% | 1,817 | 1,816 | 0% | 1,816 | 1,310 | 39% | |||
| Kohls | Jan 18 | 582 | 515 | 13% | 681 | 624 | 9% | 1,117 | 875 | 28% | 875 | 1,057 | -17% | |||
| CarMax | Feb 18 | 537 | 515 | 4% | 857 | 853 | 0% | 1,064 | 1,006 | 6% | 1,006 | 1,010 | 0% | |||
| Fastenal | Dec 17 | 525 | 461 | 14% | 757 | 672 | 13% | 873 | 790 | 11% | 790 | 826 | -4% | |||
| Yum China Holdings | Dec 17 | 482 | 447 | 8% | 885 | 747 | 18% | 810 | 672 | 21% | 672 | 496 | 35% | |||
| CDW Corp | Dec 17 | 468 | 402 | 16% | 634 | 477 | 33% | 660 | 672 | -2% | 672 | 647 | 4% | |||
| Tractor Supply | Dec 17 | 417 | 400 | 4% | 507 | 493 | 3% | 673 | 688 | -2% | 688 | 648 | 6% | |||
| Ulta Beauty | Jan 18 | 366 | 343 | 7% | 577 | 532 | 8% | 787 | 656 | 20% | 656 | 507 | 29% | |||
| Darden Restaurants | May 18 | 311 | 273 | 14% | 528 | 432 | 22% | 548 | 653 | -16% | 637 | 449 | 42% | |||
| Qurate Retail | Dec 17 | 311 | 295 | 5% | 596 | 567 | 5% | 1,523 | 1,852 | -18% | 1,852 | 816 | 127% | |||
| Advance Auto Parts | Dec 17 | 304 | 280 | 9% | 485 | 446 | 9% | 520 | 739 | -30% | 739 | 753 | -2% | |||
| Nordstrom | Jan 18 | 298 | 368 | -19% | 423 | 471 | -10% | 790 | 684 | 15% | 684 | 976 | -30% | |||
| Tiffany | Jan 18 | 297 | 323 | -8% | 487 | 459 | 6% | 761 | 677 | 12% | 677 | 710 | -5% | |||
| Aramark | Sep 18 | 287 | 248 | 16% | 329 | 342 | -4% | 485 | 466 | 4% | 466 | 356 | 31% | |||
| CoPart | July 18 | 282 | 220 | 28% | 453 | 351 | 29% | 495 | 426 | 16% | 426 | 343 | 24% | |||
| Macy's | Jan 18 | 271 | 205 | 32% | 454 | 350 | 30% | 1,507 | 952 | 58% | 952 | 1,678 | -43% | |||
| Domino's Pizza | Dec 17 | 190 | 174 | 9% | 294 | 264 | 11% | 400 | 345 | 16% | 345 | 306 | 13% | |||
| Burlington Stores | Jan 18 | 171 | 131 | 31% | 271 | 206 | 32% | 429 | 333 | 29% | 333 | 239 | 39% | |||
| Chipotle Mexican Grill | Dec 17 | 130 | 140 | -7% | 225 | 214 | 5% | 276 | 39 | 608% | 39 | 770 | -95% | |||
| L Brands | Jan 18 | 88 | 352 | -75% | 146 | 470 | -69% | 1,312 | 1,696 | -23% | 1,696 | 1,934 | -12% | |||
| Carvana | Dec 17 | (116) | (79) | -47% | (168) | (117) | -44% | (164) | (93) | -76% | (93) | (37) | -151% | |||
| CVS Health | Dec 17 | (166) | 3,925 | -104% | 1,304 | 5,459 | -76% | 8,268 | 8,637 | -4% | 8,637 | 8,616 | 0% | |||
| Wayfair | Dec 17 | (252) | (115) | -119% | (359) | (171) | -110% | (244) | (194) | -26% | (194) | (77) | -152% | |||
| Total 43 US Retailing Cos | 47,094 | 55,488 | -15% | 73,194 | 80,354 | -9% | 112,534 | 111,607 | 1% | 111,591 | 107,098 | 4% | ||||
