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MarketWatch MarketPulseAug 13, 2020
Millennial-focused retailer Revolve upgraded as a quick inventory shift makes up for a drop in dress sales, stock jumps 18%
Revolve Group Inc. shares jumped 18% in Thursday trading after the millennial- and Gen Z-focused apparel retailer reported record-setting earnings of 20 cents per share, adjusted earnings of 18 cents per share and talked up the opportunities for the e-commerce business despite COVID-19. "[S]ocial distancing restrictions result in fewer opportunities to purchase outfits for special occasions outside the home, such as dresses, which is REVOLVE's largest product category," said Co-Chief Executive Michael Mente on the earnings call, according to FactSet. The company now sees opportunity in the beauty category and other areas, and has been helped by a swift inventory adjustment after the company began to be pressured by the coronavirus pandemic. Still, there is growth potential in traditional categories as the consumer spending environment improves. "We expect growth to accelerate further as social distancing eases and should be a key driver for its core dresses category," wrote Raymond James analysts in a note. Raymond James upgraded Revolve stock to strong buy from outperform, with a price target of $32, up from $18. "Revolve remains well positioned as the fashion market increasingly shifts online and this has accelerated with the pandemic," Raymond James said. BMO Capital Markets raised its price target to $18 from $11, maintaining its market perform stock rating. And Cowen analysts moved their price target to $28 from $19 and maintained their outperform stock rating. "New at-home product, innovative marketing engagement, reduced marketing spend, and lower than expected returns more than offset lower performance in dresses," analysts led by Oliver Chen wrote. Revolve stock has gained 25.3% for the year to date while the S&P 500 index is up 4.7% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



The Motley FoolAug 13, 2020
Better Buy: McDonald's vs. Domino's Pizza
Knowing where to look for shareholder value makes all the difference in this restaurant stock comparison.

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MarketWatch MarketPulseAug 13, 2020
Coronavirus tally: Global cases of COVID-19 20.6 million, 749,656 deaths and U.S. death toll tops 166,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 20.6 million on Thursday, with the death toll rising to 749,656, according to data aggregated by Johns Hopkins University. At least 12.8 million people are confirmed to have recovered. The U.S. has by far the most cases at 5.19 million, and COVID-19-related deaths at 166,027. The U.S. has suffered 200,000 more deaths than usual since March, the New York Times reported, suggesting the true toll from the virus is higher than official numbers show. Brazil is second with 3.16 million cases and 104,201 deaths. India is third measured by cases that rose to 2.4 million, followed by Russia with 905,762 and South Africa with 568,919. Mexico has 498,380 cases and 54,666 deaths, the third highest in the world. India now has 47,033 deaths, putting it ahead of The U.K. That country has 315,581 cases and 46,791 fatalities, the highest in Europe and fifth highest in the world. China, where the illness was first reported late last year, has 89,045 cases, and 4,697 fatalities

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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