Designer Brands, Express, Chewy and more

Designer Brands, Express, Chewy and more

Check out the companies making headlines before the bell:

Designer Brands (DBI) – The footwear and accessories retailer reported better-than-expected earnings and revenue for the fourth quarter of its business and raised its full-year forecast. Designer Brands added 1.8% at Premarket.

Express (EXPR) — Shares of the apparel retailer fell 4.7% in premarket trading after its quarterly revenue missed estimates and cut its full-year guidance. Express cited difficult economic conditions that worsened as the quarter progressed.

Chewy (CHWY) – Chewy fell 10.8% in the primary market after cutting its full-year forecast. The pet products retailer posted a surprise profit last quarter, but sales lag as prices rise and consumers focus on pet spending on food and medicine.

HP Inc. (HPQ) – Shares of HP Inc. fell. By 7.1% in pre-market trading after quarterly earnings matched estimates and earnings missed expectations. HP is the latest PC maker to report a slowdown in spending on electronics.

CrowdStrike (CRWD) – CrowdStrike reported better-than-expected quarterly earnings and revenue, and the cybersecurity firm also released an optimistic forecast. CrowdStrike is seeing strong demand for cyber security software even in the face of a weak economy.

Snap (SNAP) Snap fell 7.2% in the primary market after losing two key CEOs to Netflix (NFLX). Chief Business Officer Jeremy Gorman will become president of the global ad streaming service, while Peter Naylor will become Snap’s vice president of sales in the Americas, and vice president of ad sales at Netflix. The news follows a report in The Verge Tuesday that the social media company will lay off 20% of its workforce amid a downturn in digital advertising.

Bed Bath & Beyond (BBBY) — Bed Bath & Beyond fell 13.9% in pre-market activity after the homewares retailer filed for an additional common stock sale in the future. Bed Bath & Beyond also provided an update on moves to shore up its finances, including commitments for more than $500 million in new funding.

PVH (PVH) – PVH has lowered its full-year forecast and also announced that it will reduce “people costs” by about 10% by the end of 2023. Apparel manufacturer Tommy Hilfiger and Calvin Klein said it faces environmental challenges and hopes to save more than $100 million annually from during layoffs. PVH lost 3.7% in the primary market.

Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise reported results in line with Wall Street expectations, even as IT spending fell. CEO Antonio Neri told Barron’s that the provider of networking equipment and services is seeing “always in demand.” HPE shares are up 1.8% in pre-market trading.

Leave a Comment

Your email address will not be published. Required fields are marked *