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Menomonee Falls, Wisconsin-based $KSS said comp sales decreased 3.9% for 1Q16. Transactions per store were down 4.8% for 1Q16 and average transaction value increased 90 BPs, comprised of 190 BPs increase in units per transaction and 100 BPs decrease in average unit retail. Men's and women's were the strongest categories and home was the weakest.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."