Movers: Chewy, Delta Air, Levi Strauss, HP, Salesforce, Sportsman's Warehouse

  • Barry Adams
  • U.S.A. New York City
  • Jun 1, 2022
  • Chewy declined on the worries that quarterly sales may be lower than anticipated. Delta lifted its second quarter outlook. HP Inc sales rise on sustained demand. Salesforce Inc revised higher its annual outlook. Sportsman's Warehouse sales suffer after the end of pandemic stimulus.

    Chewy Inc declined 6.05% to $23.30 ahead of the online pet food retailer's first quarter earnings after the market-close today. 

    The analysts are expecting the company to report first quarter 2022 revenues of at least $2.41 billion and net loss of 10 cents a share, according to a survey conducted by Refinitive. 

    Sales in fiscal 2021 ending in January jumped 24% to $8.89 billion and net loss of $63.6 billion. 

    Delta Air Lines dropped 5.4% to $39.45 after the company said in a regulatory filing that it expects to reach revenues this quarter matching the 2019 levels on strong travel demands and higher fares surpassing the higher fuel costs. 

    The airline revised higher operating margin between 13% and 14% from the previous estimate between 12% and 14%. 

    The company also estimated $1.5 billion of free cash flow and adjusted net debt below $20 billion. 

    American Airlines dropped 3.5% and United Airlines declined 4.5% after the Memorial Day weekend saw as many as 7,000 flight cancellations and stranded thousands of passengers in bad weather. 

    Levi Strauss jumped 0.7% to $18.29 after the company unveiled its five-year plan to accelerate sales and triple its e-commerce sales in the period and set the target of 2027 revenues between $9 billion and $10 billion reflecting 6% to 8% of organic annual growth. 

    The Board of Directors also authorized repurchase of $700 million of its stock. 

    HP Inc rose 2.8% to $39.92 after the computer and peripheral maker said second quarter sales increased 3.9% to $16.5 billion and net income declined 19% to $1.0 billion. 

    During the quarter, free cash flow declined 74% to $400 million. 

    The company estimated for the fiscal third quarter 2022 diluted earnings per share between 91 cents and 96 cents and for the full-year between $3.79 and $3.93. 

    Salesforce Inc jumped 9.3% to $175.41 after the company reported April quarter revenues rose 24% to $7.41 billion and net income dropped 94% to $98 million. 

    The company lifted its fiscal 2023 adjusted earnings outlook between $4.74 and $4.76 a share from the previous estimate between $4.62 and $4.64. 

    Sportsman's Warehouse Holdings dropped 7.8% to $8.73 after the retailer said sales in the first quarter ending in April declined 3.5% to $309.5 million. 

    Same store sales fell 11.5% on lower demand and customers retrenched on rising inflation and food prices and ending of the stimulus payments. 

    Net income declined to $2 million of 5 cents a share compared to $10.5 million or 23 cents a year ago. 

    In the second quarter, the retailer anticipates same store sales to fall between 10% and 16% and total sales between $330 million and $350 million and adjusted earnings between 22 cents and 30 cents a share. 

Annual Returns

Company Ticker 2024 2023 2022
Chewy Inc. CHWY 3% -48% -23%
Levi Strauss & Co. LEVI 11% -3% -32%
Salesforce com Inc CRM -1% 98% -48%
Delta Apparel Inc DLA 0% 0% -60%
HP Inc HPQ 20% 4% -23%
Sportsman`s Warehouse Holdings Inc. SPWH -40% -56% -18%