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Dick's Sporting Goods, Gap, Salesforce earnings — What to know in markets Thursday

Heidi Chung

Retail giants Dick’s Sporting Goods (DKS), Gap (GPS) and tech company (CRM) will report quarterly results on Thursday.

First, Dick’s Sporting Goods results will be released ahead of the opening bell. Wall Street analysts are projecting that Dick’s will report positive same-store sales growth for the first time in two years. Analysts are also predicting lowered guidance to reflect the tariffs.

Dick’s is expected to report second-quarter adjusted earnings of $1.20 per share on $2.21 billion in revenue, according to data compiled by Bloomberg. Same-store sales, a closely-watched metric, are expected to have risen 1.1%.

After the market close, apparel retailer Gap is expected to release second quarter results. The retailer is expected to report adjusted earnings of 53 cents per share, which is a decline of 30.7% from last year. Gap revenue is expected to total $4.02 billion, a decline of 1.6% from the same period last year.

Analysts anticipate that same-store sales at Banana Republic will remain negative, while Old Navy same-store sales are expected to decline 1.4% during Q2. Much like other retailers, investors will be curious about management’s commentary on the tariffs. About 16% of Gap’s products are manufactured in China, less than its rivals.

Gap shares have been taking a beating this year and have fallen 32%. The stock is underperforming its peers as well as the broader market. The ETF tracking retail stocks — XRT — is down 3% in 2018, and the S&P 500 (^GSPC) is up 18%.

Finally, analysts are expecting cloud giant Salesforce to report adjusted earnings of 47 cents per share on $3.95 billion in revenue during its second quarter. Investors will be paying attention to what the company says about how the trade war is affecting its business. The options market is implying a 6.5% move in either direction follow its report.

Other notable earnings reports scheduled for Thursday include Hormel Foods (HRL) before market open and Ross Stores (ROST) after market close.

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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