On Thursday, Dillard's (DDS) announced that it plans to form a wholly-owned real estate investment trust. The company will transfer some of its properties to the REIT and then lease back the properties from the entity. The company said that the move may enhance its ability to access debt or preferred stock and improve its liquidity.

The market is currently pricing REITs at rich valuations, and the transaction will allow Dillard's to better monetize its significant real-estate assets. By transferring these holdings into a publicly traded REIT, Dillard's should be able to unlock additional shareholder value. According to Craig Johnson, an analyst at Customer Growth Partners, "the sum of the parts can be greater than the sum of the whole."

Continue reading Buy Select Retailers on Dillard's Move into REITs

Buy Select Retailers on Dillard's Move into REITs originally appeared on BloggingStocks on Fri, 21 Jan 2011 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Tech Giveth, Tech Taketh Away (DDS, FFIV, FDO, HPQ, MS, PLXS, WEN)

Closing Bell: Tech Giveth, Tech Taketh Away (DDS, FFIV, FDO, HPQ, MS, PLXS, WEN) originally appeared on BloggingStocks on Thu, 20 Jan 2011 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Dillard's Unveils REIT Plan

Dillard's Unveils REIT Plan originally appeared on BloggingStocks on Thu, 20 Jan 2011 13:30:00 EST. Please see our terms for use of feeds.

The Federal Reserve's next Beige Book report is scheduled to be released this week. This report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. The previous report, released in January, showed some improvement in most districts and growth in consumer spending over the holiday period, though unemployment remained high. The December report showed modest improvement in eight of the districts.

Retailers were in the earnings spotlight last week and for the most part made a strong showing of it. Even as the earnings season winds down, some more retailers are scheduled to release quarterly results this week.

Continue reading The Week in Preview: Fed's Beige Book, More Retail Earnings and Canadian Banks

The Week in Preview: Fed's Beige Book, More Retail Earnings and Canadian Banks originally appeared on BloggingStocks on Sun, 28 Feb 2010 12:00:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Ann Taylor Stores Corp. (ANN) declining same-store sales offset better-than-expected Q3 earnings.
• Canadian Solar Inc. (CSIQ) reached a new 52-week high after Q3 results handily exceeded expectations.
• Dillard's Inc. (DDS) said that it swung to a Q3 profit due to cost cutting as revenue declined year over year.
• GameStop Corp. (GME) reported uninspiring Q3 numbers that included a slump in same-store sales.
• Home Depot Inc. (HD) lower Q3 earnings and revenue beat analysts' estimates, but shares still declined.

Continue reading Earnings highlights: Ann Taylor, GameStop, Home Depot, Sears, TJX ...

Earnings highlights: Ann Taylor, GameStop, Home Depot, Sears, TJX ... originally appeared on BloggingStocks on Sat, 21 Nov 2009 14:40:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Pali Capital upgraded Lazard (LAZ) to buy from neutral, citing a healthy restructuring environment, improving M&A and strength in the asset management segment. The firm has a $46 target on shares.
• Baird upgraded Scansource (SCSC) to outperform from neutral, citing strength in the channel business and growth drivers from improved telephony and security. The firm has a $30 target on shares.
• Citigroup upgraded Liberty Interactive (LINTA) to buy from hold, citing the company's QVC unit's return to growth. The firm raised its target on shares to $13.25 from $12.
• Hess Corp (HES) was upgraded to overweight from equal weight at Morgan Stanley.
• Vulcan Materials (VMC) was upgraded to buy from neutral at UBS.
• Dillard's (DDS) was upgraded to buy from hold at Deutsche Bank.

Continue reading Analyst upgrades, downgrades and initiations: BRCM, D, FRED, INTC, LAZ, SCSC ...

Analyst upgrades, downgrades and initiations: BRCM, D, FRED, INTC, LAZ, SCSC ... originally appeared on BloggingStocks on Fri, 20 Nov 2009 11:40:00 EST. Please see our terms for use of feeds.

Tuesday, TJX Companies Inc. (TJX) reported that its profit soared in the third quarter, and fellow retailers Dillard's Inc. (DDS) and Saks Inc. (SKS) said they swung to year-over-year profits in the same period.

TJX posted earnings of $347.8 million, or 81 cents per share, compared with $235.8 million, or 54 cents, in the year-ago period. Analysts had expected TJX to earn 80 cents a share. Sales rose 10% to $5.24 billion, while same-store sales increased 7%.

Continue reading Dillard's, Saks swing to Q3 profits; TJX earnings soar

Dillard's, Saks swing to Q3 profits; TJX earnings soar originally appeared on BloggingStocks on Wed, 18 Nov 2009 08:30:00 EST. Please see our terms for use of feeds.

Sears Holding (NYSE: SHLD) closed at $50.22 Tuesday. SHLD Q3 results are expected in late November. Deutsche Bank has a Sell rating on SHLD. SHLD December call implied volatility is at 83, puts are at 127; above its 26-week average of 53 according to Track Data, suggesting larger price movement. SHLD puts are priced higher than calls because SHLD is difficult to borrow.

Dillards (NYSE: DDS) closed at $3.86 Tuesday. DDS is expected to report earnings soon. DDS December option implied volatility of 145 is above its 26-week average of 85 according to Track Data, indicating larger price movement.

Kohl's (NYSE: KSS) closed at $30.69 Tuesday. KSS is scheduled to report Q3 financial results on November 13. Deutsche Bank has a Buy rating on KSS. KSS overall option implied volatility of 84 is above its 26-week average of 64 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Retailers' volatility indicates continued movement originally appeared on BloggingStocks on Wed, 12 Nov 2008 08:45:00 EST. Please see our terms for use of feeds.

Activists look to take the Dillards out of Dillard's originally appeared on BloggingStocks on Tue, 28 Oct 2008 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Dow ends 2.4% down; DDS, HUM, HUN, THOR, VZ

Closing Bell: Dow ends 2.4% down; DDS, HUM, HUN, THOR, VZ originally appeared on BloggingStocks on Mon, 27 Oct 2008 16:18:00 EST. Please see our terms for use of feeds.

J.C. Penney (NYSE: JCP) closed at $31.37 Friday. JCP is scheduled to report September sales data on October 8. JCP October option implied volatility of 83 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.

Kohl's (NYSE: KSS) closed at $41.47 Friday. KSS is expected to report September sales data on October 8. KSS over all option implied volatility of 65 is above its 26-week average of 48 according to Track Data, suggesting larger price movement.

Dillard (NYSE: DDS) closed at $11.06 Friday. DDS is expected to report September sales data on October 8. DDS overall option implied volatility of 108 is above its 26-week average of 73 according to Track Data, indicating larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: J.C. Penney, Kohl's, Dillard volatility elevated into sales data originally appeared on BloggingStocks on Mon, 06 Oct 2008 08:28:00 EST. Please see our terms for use of feeds.

Kohl's (NYSE: KSS) closed at $51.04 Tuesday. KSS overall option implied volatility of 46 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Dillard (NYSE: DDS) closed at $13.05 Tuesday. DDS September option implied volatility of 80 is above its 26-week average of 65, indicating larger price movement.

Macy's (NYSE: M) closed at $21.62 Tuesday. M overall option implied volatility of 55 is near its 26-week average according to Track Data, suggesting non-directional price movement.

J.C. Penney (NYSE: JCP) closed at $40.63 Tuesday. JCP comparable store sales decreased 4.9% for the four-week period ended August 30, 2008, in-line with company guidance. JCP September option implied volatility of 50 is near its 26-week average, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Retailers' volatility flat into Back to School sales (KSS, DDS, M, JCP) originally appeared on BloggingStocks on Wed, 03 Sep 2008 09:25:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Big Lots Inc. (NYSE: BIG) Q2 profits topped expectations, but it warned of weak sales in the second half.
• China Petroleum and Chemical Corp. (NYSE: SNP) first-half profits tanked due to government price controls.
• Dell Inc. (NASDAQ: DELL ) fell short of Q2 earnings estimates, surprising even Jim Cramer.
• Dillard's Inc. (NYSE: DDS) beat analysts' expectations despite widening its Q2 net loss.
• Gilat Satellite Networks Ltd. (NASDAQ: GILT) missed Q2 expectations and a merger fell through.
• J. Crew Group Inc. (NYSE: JCG) Q2 net income slipped on lower sales and gross margins.
• JP Morgan & Chase Co. (NYSE: JPM) earnings have been hurt by investments in Fannie Mae/Freddie Mac.
• LDK Solar Co. (NYSE: LDK) raised its 2009 revenue guidance on reaching peak silicon wafer capacity.
• Marvell Technology Group (NASDAQ: MRVL) beat Q2 expectations but gave a conservative Q3 outlook.
• Rio Tinto Group (NYSE: RTP) first-half profits more than doubled on its acquisition of Alcan.
• Sanderson Farms Inc. (NASDAQ: SAFM) swung to a Q3 loss due in part to rising commodities prices.
• Sears Holdings Corp. (NASDAQ: SHLD) Q2 earnings plunged more than expected on further sluggish sales.
• SkillSoft PLC (NASDAQ: SKIL) beat Q2 expectations and offered Q3 and full-year guidance.
• Smithfield Foods Inc. (NYSE: SFD) swung to a Q1 loss due in part to rising commodities prices.
• Talbots Inc. (NYSE: TLB) nearly doubled its Q2 loss due to lower sales and restructuring charges.
• Thornburg Mortgage Inc. (NYSE: TMA) posted a Q2 profit but warned of possible collapse on margin calls.
• Tiffany & Co. (NYSE: TIF) doubled its Q2 profit on strong international sales, and raised its guidance.
• TiVo Inc. (NASDAQ: TIVO) unexpectedly swung to a Q2 profit but forcast another loss in Q3.

Upcoming quarterly reports include Guess (NYSE: GES), Collective Brands (NYSE: PSS), H&R Block, (NYSE: HRB), Staples (NASDAQ: SPLS), Ciena (NASDAQ: CIEN), Toll Brothers (NYSE: TOL); and National Semiconductor (NASDAQ: NSM).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: Dell, Sears, Tiffany, Talbots, Smithfield, TiVo, Rio Tinto and others originally appeared on BloggingStocks on Sat, 30 Aug 2008 12:10:00 EST. Please see our terms for use of feeds.

The economic downturn has meant lower sales for retailers such as department store chain Dillard's Inc. (NYSE: DDS) and apparel retailer Talbots Inc. (NYSE: TLB). On Wednesday both companies reported wider second-quarter losses.

Little Rock, Ark.-based Dillard's said it it lost $38.3 million, or 51 cents a share, in the quarter, compared with a loss of $25.2 million, or 31 cents a share, in the second quarter of the previous year. Same-store sales fell 4%, and overall revenue dropped to $1.65 billion from $1.69 billion a year ago.

Results included a gain of 15 cents per share, mostly from the sale of a company airplane, and store closing and other charges of 8 cents per share.

Analysts surveyed by Thomson Financial had expected a loss of 54 cents per share on revenue of $1.62 billion.

Dillard's said cost-cutting efforts in the second quarter were insufficient to offset disappointing results, but that the company would continue to close under-performing stores and cut back on advertising and general expenses.

Shares of Dillard's jumped 48 cents, or 4%, to $11.85 in early trading, before settling back down. Shares are down about 38% year to date.

Continue reading Dillard's, Talbots rise despite wider Q2 losses

Dillard's, Talbots rise despite wider Q2 losses originally appeared on BloggingStocks on Wed, 27 Aug 2008 12:40:00 EST. Please see our terms for use of feeds.

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

As a mid-market department store, Dillard's (NYSE: DDS) was in the wrong place at the wrong time when a slowdown in spending spread across the U.S. A staggering spike in energy and food prices, as well as a nationwide foreclosure crisis, first hit consumers during the first half of 2007. The middle class couldn't help but notice its discretionary income shrinking with each paycheck, and average Americans found themselves with fewer and fewer reasons to plan a trip to the mall.

What went wrong? At number 21 on our list of SPX laggards, DDS lost 72% of its value during the 10-year period that ended June 30, 2008. The equity's sharpest losses have also been its most recent; after hitting a near-term peak of $40.56 in May 2007, DDS took a 71.4% haircut over the next 13 months. The decline was sparked by a weak earnings report on the 23rd of that month, when Dillard's missed the Street's earnings expectations by a staggering 20 cents per share.

Last August, Dillard's proved once again that analysts were too optimistic. The company lost 31 cents per share in its second quarter, compared to expectations for a loss of just 1 penny per share. In April 2008, the beleaguered department store narrowly dodged a proxy battle by awarding a board seat to a nominee proposed by irate shareholder group Barington Capital. Properly chastised by the sharp decline in its share price, Dillard's also announced plans to shutter underperforming stores, reduce capital expenditures, and ramp up the quality of its merchandise.

Continue reading Worst 10-year performers: Dillard's drops to bargain-basement prices

Worst 10-year performers: Dillard's drops to bargain-basement prices originally appeared on BloggingStocks on Sat, 26 Jul 2008 13:30:00 EST. Please see our terms for use of feeds.

Retail sales, especially Nordstrom, as economic barometer originally appeared on BloggingStocks on Mon, 31 Mar 2008 12:06:00 EST. Please see our terms for use of feeds.

Dillard's Inc. (NYSE: DDS) closed at $15.54. William Dillard is Chairman of the Board owns approximately 24.4% of the outstanding voting shares of DDS. William Dillard the 2nd is the CEO. Alex Dillard is President. Mike Dillard is executive Vice President.

DDS February option implied volatility of 73 is above its 26-week average of 57 according to Track Data, indicating larger risks.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options update: Dillard's volatility elevated as shares near four-year low originally appeared on BloggingStocks on Thu, 17 Jan 2008 11:36:00 EST. Please see our terms for use of feeds.

Continue reading Insiders stock up on retail stocks -- the ultimate clearance?

Insiders stock up on retail stocks -- the ultimate clearance? originally appeared on BloggingStocks on Tue, 18 Dec 2007 13:45:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• A former Royal Bank of Canada (NYSE: RY) trader alleged that some employees "miss-marked" bonds to increase profits at the New York office's investment banking unit, the Wall Street Journal reported.
• The WSJ also reported that private-equity firm J.C. Flowers & Co is in talks with UK lender Northern Rock, but has not confirmed it will launch a bid for the troubled firm wrapped up in the subprime meltdown.

• The New York Times reported Merrill Lynch & Co Inc (NYSE: MER) CEO Stanley O'Neal contacted Wachovia Corporation (NYSE: WB) CEO G. Kennedy Thompson last week to discuss the possibility of a merger between the companies, according to inside sources; Merrill's board has reportedly started considering candidates to replace him.
• The Times also reported that designer Tommy Hilfiger agreed to sell his biggest clothing line exclusively at Macy's Inc (NYSE: M). Under the agreement, Mr. Hilfiger would remove his clothing lines from stores like The Bon-Ton Stores Inc (NASDAQ: BONT) and Dillard's Inc (NYSE: DDS).

Newspaper wrap-up: Merrill Lynch CEO discusses merger with Wachovia originally appeared on BloggingStocks on Fri, 26 Oct 2007 09:15:00 EST. Please see our terms for use of feeds.

Richard Rhodes, professional trader, money manager and editor of The Rhodes Report was one advisor who accurately forecast the recent decline and moved into short positions going into this past week.

And while he sees the potential for a near-term bounce, this week's action leads the advisor to say, "A major trading high has formed, which will lead to a -10% to -20% correction...perhaps deeper."

He explains, "If there was ever a 'bell' to signal the end of an intermediate or long-term rally; we think the decline from the S&P 500 high of 1565 to yesterday's low at 1465 suffices as such."

The constriction of credit and liquidity, he notes, has led to very poor advance/decline figures. As such, he suggests being a seller during any rallies that result fro the "month-end bullish pattern and short-term oversold condition."

Indeed, even in his Long Only Portfolio - a portfolio that as its name implies only holds long position - he now says, "We are going to a very rare, but very prudent 'no position' stance." As for his Long/Short Portfolio, he says, "We are now aggressively short."

Continue reading Trader sees 10% to 20% decline

Trader sees 10% to 20% decline originally appeared on BloggingStocks on Fri, 27 Jul 2007 11:00:00 EST. Please see our terms for use of feeds.