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For FY16, $PLCE expects adjusted EPS to be $4.29-4.39 constant currency. Adjusted GM is expected to leverage 90-110BP vs. last year. Adjusted operating margin is expected to leverage 60-70BP vs. last year. Adjusted tax rate will be approx. 35%. Capex will be about $50-60MM. $PLCE plans to open 7 stores and close approx. 35 stores in 2016.
Apple ($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%."