Friday, April 5, 2019

All 78 US Retailing Cos With Stock Market Caps of $1-10 Bil Posted Total Pretax Earnings in the 4Q of 2018 Which Declined By 35% From the 4Q of 2017, After Declines of 20% in the 3Q 2018 and of 9% in the 2Q 2018

Unregulated US Capitalism is Just Not Working Properly For Smaller US Retailing Companies, Especially Those HQd in the Industrial Midwest, Where the 21 Smaller Retailers Saw Their Total Pretax Earnings Decline Precipitously By 62% in the 4Q of 2018.  Horrible Industrial Midwest Manufacturing Companies Earnings Also Spill Over to Their Retail Cos. 
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 From a review of SEC filings, I found 78 US Retailing Companies with stock markets caps of above $1 bil sometime in 2018 and which did not exceed $10 bil in 2018.  Of these 78 Cos, 21 of them are headquartered in the Industrial Midwest.

 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.

The chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the 4Q (Jan, Dec or Nov), for the 3Q (Oct, Sept or Aug) and for the 2Q (July, June or May) of both 2018 and 2017 for each of these 78 US Retailing Companies.

US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Qtr Qtr Qtr Qtr Qtr Qtr
Ended  Ended  Ended  Ended  Ended  Ended 
Nov 18 Nov 17 Aug 18 Aug 17 May 18 May 17
US Dec 18 Dec 17 Sep 18 Sep 17 June 18 June 17
State US Retailing Cos or or % or or % or or %
HQs Stock Market Caps $1-10 Bil Jan 19 Jan 18 Change Oct 18 Oct 17 Change July 18 July 17 Change
mils $ mils $ mils $ mils $ mils $ mils $
January 2019 Quarter Ends    
TX Michaels Companies            235            320            99          121            36            56
NY Foot Locker            223              80          146          156          115            73
CA Williams-Sonoma            199            199            92          110            73            81
OH Big Lots            144            166          (13)              4            32            47
PA Dick's Sporting Goods            136            180            50            58          162          171
OH Abercrombie & Fitch            128            136            37            18            (3)          (25)
PA Five Below            118            104            17            15            31            27
PA Urban Outfitters            115              91            98            72          119            77
PA American Eagle Outfitters            104            120          113            98            77            32
AR Dillards            104            117              5            21            (4)          (27)
MA BJ's Wholesale Club              83              46            57            38          (21)            31
TN Cracker Barrel              73              73            57            67            78            80
TX J C Penney              63            156        (159)        (154)          (96)          (47)
PA Ollie's Bargain Outlet              62              53            29            23            35            29
IA Casey's General Stores              54              26            91            78            89            92
NE Buckle              53              63            28            32            21            18
CA RH              50              18            28            19            67            (2)
TX Conn's              39              26            20              2            22              7
TX At Home Group              37              31            12              4          (19)            15
TX Dave & Busters Entertainment              37              40            12            17            43            37
WI Duluth Holdings              28              29            (4)            (1)              9              7
WI Lands End              24              18            (1)              0            (6)            (5)
CA Stitch Fix              17              17            12            19              9            (3)
NJ Childrens Place              13              52            64            64              9              3
TX Tailored Brands               (2)             (13)            27            55            59            87
FL Chico's FAS             (22)              29              3            25            22            35
OH DSW Inc             (58)              36            54              5          (22)            47
NJ Ascena Retail Group             (78)             (61)            14            14            18          (33)
OH Signet Jewelers Ltd             (94)            314          (59)          (11)          (67)          122
TX Gamestop           (243)            238        (507)            74              8            29
Total 30 Retailing Cos         1,642         2,704 -39%          422       1,043 -60%          896       1,061 -16%
   
December 2018 Quarter Ends    
NC Hanesbrands            190              69          197          208          165          183
FL AutoNation            129            174          145          158          130          145
NY Park City Holdco            128            141            (2)            14            37            40
MI Penske Automotive Group            127            128          157          139          176          157
AR Murphy USA            101              51            57          109            69            90
IN KAR Auction Services              88            103          103          101          128            91
TX Sally Beauty Holdings              85              86            79            59            78          103
OR Lithia Motors              78              91          109            87            81            88
TX Builders FirstSource              67             (25)            93            55            76            58
MA Dunkin Brands Group              66              57            81            82            83            82
TX FirstCash              63              57            44            42            42            21
TX Rush Enterprises              62              34            54            45            39            35
AZ Insight Enterprises              55              40            43            35            69            65
GA Asbury Automotive Group              54              54            59            50            58            52
TX Biglari Holdings              53              28          (25)          (50)            (8)            35
PA Amerigas Partners LP              46            108          (31)          (18)          (74)          (46)
NV Cannae Holdings              42                3          (10)          (27)          (19)          (42)
TX Group 1 Automotive              40              59            44            47            75            62
CA Jack in the Box              40              60            24            51            65            46
GA BMC Stock Holdings              37              22            47            28            53            27
TX Brinker Intl              35              41            32            15            55            68
KY Texas Roadhouse              34              37            36            45            54            54
CA Dine Brands Global              32              11            31        (506)            25            41
NC Sonic Automotive              31              54            23            34            25            20
NJ PC Connection              29              22            19            22            25            22
NJ Suburban Propane Partners LP              28              36          (51)          (50)          (17)          (30)
AZ Sprouts Farmers Market              21              32            45            48            55            59
VA ePLUS              21              16            25            29            21            21
GA Floor & Décor Holdings              20              30            32            26            35            25
OH Wendy's              19              38          499            32            42            (0)
PA Nutri System              18              17            21            21            34            36
FL Ruth's Hospitality              18              16              4              3            11            11
CA Cheesecake Factory              16              23            30            33            32            49
PA Weis Markets              15              23            19              7            26            28
CA BJ's Restaurants              12              10              7              1            18            12
FL Bloomin Brands              10                3              1              2            22            39
FL Petmed Express              10              12            14            13            16            15
TX Wingstop                4                7              8              7              8              7
NY Shake Shack                3            133              9            10            13            12
NJ Hudson Ltd                2                0            38            34            32            10
FL Office Depot             (11)              41            85          100            28            35
KY Papa John's Intl             (16)              32          (20)            31            20            35
UT Overstock.com             (50)             (25)          (49)            (7)          (66)          (10)
IL Camping World Holdings             (71)            123            59            92            94          119
MI Diplomat Pharmacy           (304)               (2)              0              0            (2)              3
Total 45 Retailing Cos         1,477         2,070 -29%       2,185       1,257 74%       1,929       1,973 -2%
November 2018 Quarter Endss
NJ Bed Bath & Beyond              27              95            64          150            64          130
CA PriceSmart              22              33            26            30            27            27
PA Rite Aid             (19)             (34)        (459)          306          (51)          (48)
Total 3 Retailing Cos              30              94 -68%        (369)          486 -176%            40          109 -63%
Total all 78 Retailing Cos         3,149         4,868 -35%       2,238       2,786 -20%       2,865       3,143 -9%

The chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the 4Q (Jan, Dec or Nov) of both 2018 and 2017 for each of the 21 Retailing Companies headquartered in the US Industrial Midwest.

US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss)
Qtr Qtr
Ended  Ended 
Nov 18 Nov 17
US US Retailing Cos Dec 18 Dec 17
State HQd in the US Industrial Midwest or or %
HQs Stock Market Caps $1-10 Bil Jan 19 Jan 18 Change
mils $ mils $
OH Big Lots            144            166
PA Dick's Sporting Goods            136            180
OH Abercrombie & Fitch            128            136
MI Penske Automotive Group            127            128
PA Five Below            118            104
PA Urban Outfitters            115              91
PA American Eagle Outfitters            104            120
IN KAR Auction Services              88            103
PA Ollie's Bargain Outlet              62              53
IA Casey's General Stores              54              26
PA Amerigas Partners LP              46            108
WI Duluth Holdings              28              29
WI Lands End              24              18
OH Wendy's              19              38
PA Nutri System              18              17
PA Weis Markets              15              23
PA Rite Aid             (19)             (34)
OH DSW Inc             (58)              36
IL Camping World Holdings             (71)            123
OH Signet Jewelers Ltd             (94)            314
MI Diplomat Pharmacy           (304)               (2)
Total all 21 Cos Hqd in the Industrial Midwest            680         1,777 -62%














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