The Week Ahead: Ringing in the New Decade With Earnings From Walgreens and More
Bed Bath & Beyond, Constellation Brands, Commercial Metals, and more slated for earnings this week.
We enter the first full week of the new decade; earnings reports and economic data will begin pouring in for fourth quarter. For next week’s earning releases, we are watching for Bed Bath & Beyond (BBBY), Constellation Brands (STZ), and Walgreens (WBA), all slated to report on Wednesday.
Bed Bath & Beyond had made what we believe were overdue changes across its leadership team late last year. These changes were sweeping indeed: The firm announced the departures of its chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer, and chief administrative officer as CEO Mark Tritton settled into his role. Our analysts note that Tritton, with his extensive past career at Target, should see a healthy interest piqued for these newly opened roles. We maintain our fair value estimate of $11.40 and maintain that shares are overvalued. However, if the new plan can halt market share deceleration and set Bed Bath & Beyond back on track to gain clout with consumers, we could reconsider our negative moat trend rating.
Jess Liu does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.