Consumer Discretionary

MARRIOTT INTERNATIONAL REPORTS THIRD QUARTER 2023 RESULTS

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MARRIOTT INTERNATIONAL REPORTS THIRD QUARTER 2023 RESULTS PR Newswire BETHESDA, Md., Nov. 2, 2023 — Third quarter 2023 comparable systemwide constant dollar RevPAR increased 8.8 percent worldwide, 4.3 percent in the U.S. & Canada, and 21.8 percent in international markets, compared to the 2022 third quarter; — Third quarter reported diluted EPS totaled $2.51, compared to reported diluted EPS of $1.94 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.11, compared to third quarter 2022 adjusted diluted EPS of $1.69; — Third quarter reported net income totaled $752 million, compared to reported net income of $630 million in the year-ago quarter. Third quarter adjusted net income totaled $634 million, compared to third quarter 2022 adjusted net income of $551 million; — Adjusted EBITDA totaled $1,142 million in the 2023 third quarter, compared to third quarter 2022 adjusted EBITDA of $985 million; — The company added approximately 17,200 rooms […]

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Starbucks Executive Said China’s Average Weekly Sales Grew Quarter Over Quarter In Line With Our Guidance Of Low To Mid Single Digit Growth

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Starbucks Executive Said China’s Average Weekly Sales Grew Quarter Over Quarter In Line With Our Guidance Of Low To Mid Single Digit Growth -Conf Call。

Starbucks Executive Said China’s Average Weekly Sales Grew Quarter Over Quarter In Line With Our Guidance Of Low To Mid Single Digit Growth Read Post »

Estee Lauder’s Travel Retail Business in Asia Hit Beyond Daigou Regulation

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Estee Lauder expects to complete its destocking efforts in its key Travel Retail business in Asia by the end of March 2024. The beauty giant is seeing travel come back slowly, “more slowly than we had anticipated,” CFO Tracey Travis says on a call with analysts. “We are seeing lighter levels of conversion relative to what we saw certainly pre-pandemic or even pre the significant changes in policy across the Asia region,” Travis says on tighter policies affecting daigous, or personal shoppers.

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Costco’s October Sales Rise 4.5% to $18.5 Billion

/ / Consumer Discretionary /

Costco Wholesale Corp. (COST) late Wednesday said that its October net sales rose 4.5% to $18.53 billion, from $17.73 billion in October 2022. Costco same-store sales rose 3%, and e-commerce sales, which during the height of the pandemic grew by double-digit numbers for several months, rose 3.7%. Costco shares were flat in the after-hours session after a 0.8% advance in the regular trading day.

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Airbnb Q3 Net Income, Revenue Rise; Q4 Revenue Guidance Set

/ / Consumer Discretionary /

Airbnb (ABNB) reported Q3 net income Wednesday of $6.63 per diluted share, up from $1.79 a year earlier. Analysts polled by Capital IQ expected $2.10. Revenue in the quarter ended Sept. 30 was $3.4 billion, up from $2.88 billion a year earlier. Analysts surveyed by Capital IQ expected $3.37 billion. For Q4, the company said it expects revenue of $2.13 billion to $2.17 billion. Analysts polled by Capital IQ expect $2.18 billion.

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CFRA Maintains Hold Opinion On Shares Of Yum Brands, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target to $130 from $147, 22.3x our 2024 EPS, below YUM’s five-year average forward P/E, reflecting revenue growth risks. We raise our 2023 EPS view to $5.30 from $5.24 and FY 25’s to $5.84 from $5.72. YUM posted Q3 adj-EPS of $1.44, $0.17 above consensus. Revenue of $1,708M (+4.1% Y/Y) was $64M below consensus. Adjusted operating income grew 16.4% Y/Y to $619M vs. $588M consensus, with margin widening to 36.2%. YUM’s comp sales grew 9.0% vs. 4.5% consensus. Taco Bell in the U.S. was a bright spot, with comp sales up 4% Q/Q and comp transaction growth seen across income groups. We’re also positive on YUM’s margins, given its plans for new kiosks (higher average check), menu items (chicken nuggets at KFC), and

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