Greenberg: The Most Striking Thing About This Earnings Cycle?
SAN DIEGO (TheStreet
) -- What makes this earnings season different than others? Everybody had a free pass to blame the weather.
Everybody didn't use it.
(CMG - Get Report)
didn't. Buffalo Wild Wings
(BWLD - Get Report)
didn't. As Buffalo Wild Wings CEO Sally Smith said, on her company's earnings call, "We usually keep our comments about weather to a pretty much minimum because weather happens every year."
She's right, but the worst winter in recent memory did
have an impact; and the only company I've seen quantify it is Sally Beauty
(SBH - Get Report)
. From its earnings release today: "Extremely unfavorable weather in the U.S. resulted in 5,426 store days closed in the fiscal 2014 second quarter versus 1,328 in the prior year, resulting in lower traffic and sales growth in the U.S...."
Hard to argue with the numbers.
Meanwhile, this morning's earnings reports including a smattering of consumer and industrial that provide a window into the economy. Among them:
: "Clorox now anticipates sales to be down slightly in fiscal 2014 due to anticipated softness of the company's U.S., retail business, including lower-than-anticipated Charcoal sales in the back half of the fiscal year..."
: "Underlying business conditions remained choppy ...weather-related challenges notwithstanding."
Church & Dwight
(inflation watch): "Commodity costs were higher in the first quarter ..."
-- Written by Herb Greenberg in San Diego