PVH, Kroger, Hovnanian Enterprises, Men's Wearhouse and Lululemon Athleticaare part of Zacks Earnings Preview:

PVH, Kroger, Hovnanian Enterprises, Men's Wearhouse and Lululemon Athleticaare
                       part of Zacks Earnings Preview:

PR Newswire

CHICAGO, Sept. 9, 2013

CHICAGO, Sept. 9, 2013 /PRNewswire/ --Zacks.com releases the list of
companies likely to issue earnings surprises. This week's list includes PVH
Corp (NYSE:PVH-Free Report), Kroger (NYSE:KR-Free Report), Hovnanian
Enterprises (NYSE:HOV-Free Report), Men's Wearhouse (NYSE:MW-Free Report) and
Lululemon Athletica (Nasdaq:LULU-Free Report).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

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Closing the Books on Q2 Earnings

We are in-between earnings seasons at present, with the Q2 earnings close to
the finish line and the Q3 reporting cycle still a few weeks away. Investors'
attention lately has squarely been on economic data, with a focus on what each
report means for the likelihood of a Fed Taper at this month's FOMC meeting.

The market's positive response to the tepid August jobs report likely
indicates that many in the market still believe that Taper is far from
guaranteed. I don't subscribe to that view as I see the totality of recent
economic data, including the jobs report, as good enough to allow the Fed to
start getting out of the QE business in the limited time available under
Bernanke. With the next FOMC meeting just a week away, we will find out soon
enough.

The earnings season may no longer be front and center, but it isn't
(technically) over yet either, with 30 companies coming out with results this
week, including 2 S&P 500 members. For all practical purposes, however, the Q2
earnings season is already over, with results from 497 S&P 500 companies
already out (as of Friday, September 6th).

The remaining three reports are in the Retail and Consumer Discretionary
sectors and this week's reports from PVH Corp (NYSE:PVH-Free Report) and
Kroger (NYSE:KR-Free Report) take us very close to the finish line. Other
notable reports this week include Hovnanian Enterprises (NYSE:HOV-Free
Report), Men's Wearhouse (NYSE:MW-Free Report) and Lululemon Athletica
(Nasdaq:LULU-Free Report).

Most of the recent results have been from the Retail sector and they have
broadly been on the weak side. The soft tone set by results from companies
earlier in the sector's reporting cycle largely remained in place, with most
of the apparel and other soft-line retailers failing to impress. The Q2
earnings and revenue growth numbers for the sector aren't bad; they are in
fact better than what the sector produced in Q1 and the last few quarters.

But many more retailers came out short of expectations, with the earnings and
revenue beat ratios for Q2 materially weaker than Q1 and the four-quarter
average. The overall tone of guidance was on the weak side as well, prompting
analysts to cut their estimates for the sector. Total earnings for the sector
are expected to be up +3.9% in Q3 at present, down from +6.5% last week and
+17.3% in mid-July.

The downward adjustment to Q3 expectations is fairly pronounced in Retail, but
the issue is hardly confined this sector alone, as estimates have come down
for all sectors. Total earnings in Q3 for the S&P 500 as a while are currently
expected to up +1.4% from the same period last year, down from +1.9% last week
and +5.2% in early July. Basic Materials, Industrials, and Technology are the
other major sectors experiencing material negative estimate revisions.

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are
the most powerful force impacting stock prices." Since inception in 1988, #1
Rank stocks have generated an average annual return of +28%. During the
2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500
tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong
Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since
1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (+3%
versus +10%). Thus, the Zacks Rank system allows investors to truly manage
portfolio trading effectively.

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