Earnings: Canada Goose raises full-year forecast, Kohl’s slashes outlook

Yahoo Finance's Emily McCormick joins the Live show to break down how stocks are moving in midday trading.

Video transcript

BRIAN CHEUNG: Welcome back to Yahoo Finance. You know, it's cold enough in the studio that I wish I brought a, like, a Canada Goose jacket or something like that. And I bring that up because Canada Goose reported earnings this morning. And for more on that, let's bring in Yahoo Finance's Emily McCormick, who's been watching that and also a number of other companies that reported earnings as well.

EMILY MCCORMICK: Well, Brian, you guys have been talking a lot about the carnage that we're seeing in the retailers, like a Walmart and a Target, but we are seeing some green shoots here and some green on the screen when we take a look at shares of Canada Goose. Now, this stock is up about 5.3% on an intraday basis. The company reported better than expected guidance, I should say, this morning. And that really is helping to boost the stock here. These results coming in better than feared, compared to some of the other retail results we've gotten earlier this week.

But I do want to zoom in on that guidance, the company is seeing full year revenue of between $1.3 and $1.4 billion Canadian. The consensus on Wall Street was for revenue of $1.29 billion for the full year. So, again, investors really latching onto this better than expected guidance, even as we had the company's reported fourth quarter revenue coming in slightly light of estimates, based on what you just saw there on the screen. Now, unfortunately, for the stock anyway, we are still seeing it down on a year to date basis, even though, again, we are seeing that move to the upside on an intraday basis.

Now another retailer that I want to highlight as well that's trending today is Kohl's. Now, we're actually seeing the stock up slightly, up by about 0.8% intraday. That's after the company also reported results earlier today. Its guidance was actually a little bit of a positive when we think about what the company was talking about for comparable same store sales. The CEO, Michelle Gass, saying that they expect positive comp sales in the second half of this year, but that's even as they cut their profit guidance.

Kohl's seeing adjusted earnings per share between $6.45 to $6.85 for the full year. And previously, they saw between $7 and $7.50. So, again, echoing what we've seen from Walmart and Target where there is a little bit of a concern on the inflation front on the profit side there for Kohl's. But at least when it came to forecastings of turnaround on the comparable same store sales side for the second half of the year, that's helping boost the stock a bit today, guys.

AKIKO FUJITA: OK, retail yet our focus again. Thanks so much for that, Emily.