Stocks making the biggest moves in the premarket: Tiffany, Macy’s, Stitch Fix, Signet Jewelers & more

Take a look at some of the biggest movers in the premarket:

Tiffany (TIF) – The luxury goods retailer reported a quarterly loss of 53 cents per share, compared to a consensus estimate of a 3 cents per share profit. Revenue was also well below forecasts, with comparable-store sales falling a greater-than-expected 44%. Tiffany's results were impacted by pandemic-related worldwide store closures.

Macy's (M) – Macy's reported a preliminary first-quarter loss of $2.03 per share, smaller than the consensus estimate of a $2.82 per share loss. Revenue was in line with estimates, and within the range that the retailer had given on May 21. Macy's will finalize its first-quarter numbers on July 1, after it fully assesses impairment charges related to the pandemic. Separately, Macy's raised $4.5 billion in debt, including $3.15 billion pledged against its real estate assets. The retailer said the money would help shore up its finances as its stores reopen, and allow it to operate its business for the foreseeable future.

Signet Jewelers (SIG) – The jewelry retailer lost $1.59 per share for its latest quarter, smaller than the loss of $2.82 a share anticipated by Wall Street analysts. Revenue was below estimates, however, with comparable-store sales falling 38.9%. Analysts surveyed by FactSet had expected a 35.4% drop in comparable-store sales. Signet also said it would not reopen at least 150 North American stores that had been closed due to the pandemic, and that it will temporarily suspend its dividend.

HD Supply (HDS) – The industrial distributor reported quarterly earnings of 67 cents per share, 15 cents a share above estimates. Revenue also beat forecasts. HD Supply did say that average daily sales in May were down 7.3%, and that it is not providing current quarter or full-year guidance due to the Covid-19 pandemic.

Stitch Fix (SFIX) – Stitch Fix lost 33 cents per share for its latest quarter, more than twice the 16 cents a share analysts had expected the online clothing styling service to lose. Revenue also missed estimates, but the company said it would register positive revenue growth for the current quarter.

Coupa Software (COUP) – Coupa reported quarterly earnings of 20 cents per share, well above the consensus estimate of 7 cents a share. The cloud software company's revenue exceeded estimates as well, and it also gave strong current-quarter and full-year guidance.

British American Tobacco (BTI) – British American Tobacco cut its annual revenue and profit forecast, noting the impact of prolonged lockdowns in some markets and larger sales declines in others.

Occidental Petroleum (OXY) – Occidental is reviewing options for its Middle East assets as it considers ways to reduce its debt load, according to a Bloomberg report. Occidental has been trying to reduce its $40 billion debt load it took on when it purchased rival Anadarko Petroleum last year.

Boeing (BA) – Boeing remains on watch after rising for six straight sessions and adding 58% in value during that time on hopes of a travel industry rebound and a boost in jet demand.

Scotts Miracle-Gro (SMG) – The lawn and garden products company said it expects sales growth of 16% to 18% for the current fiscal year, up from a prior forecast of 6% to 8%. The consumer segment is largely responsible for the boost, with consumers increasing lawn and garden activities during the pandemic.

Tailored Brands (TLRD) – The retailer is considering a bankruptcy filing, according to Bloomberg. The parent of the Jos. A. Bank and Men's Wearhouse clothing chain has sales drop as more people work from home and the demand for new suits drops.

Casey's General Stores (CASY) – Casey's fell 13 cents a share shy of estimates, with quarterly earnings of $1.67 per share. The gasoline station and convenience store operator's revenue came in above forecasts. The pandemic cut down customer traffic in its stores, but Casey's reported higher margins in its gasoline business.

Source: cnbc.com

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