Consumer & RetailEarnings — Latest Quarter & What's Coming

In FY2026, NIKE's revenue was roughly flat at $46.4B (+0.2% YoY) and gross margin expanded modestly to 42.9%, but net income fell 3.4% to $3.108B and operating cash flow dropped 22.4% to $2.868B as North America growth was offset by steep declines in Greater China and Converse amid ongoing brand and marketplace reset efforts.

Lululemon's Q2 FY2026 results showed modest revenue growth of 4.3% to $2.47B, but profitability deteriorated sharply with gross margin contracting 417 bps to 54.2% and net income falling 38.0% to $195M due to rising costs.

Costco delivered strong Q3 FY2026 results with revenue of $70.5B (+11.6% YoY) and net income of $2.19B (+15.2% YoY), driven by robust membership-driven sales growth while maintaining its characteristically lean ~4% operating margin.

Ross Stores delivered a strong Q2 FY2026, with revenue surging 20.6% YoY to $6.01B and net income jumping 35.6% to $650.0M, driven by robust operating leverage and a doubling of operating cash flow.

TJX delivered a strong Q2 FY2026 with net income surging 28.6% YoY to $1.33B and EPS of $1.19, driven by robust consumer demand for off-price retail and significantly improved operating cash flow of $1.12B.

Walmart delivered strong Q2 FY2026 results with revenue rising 7.3% YoY to $177.8B and net income surging 18.8% to $5.3B, though operating cash flow declined 12.4% amid elevated capital investment.

Target's Q2 FY2026 revenue grew 6.7% YoY to $25.4B, but net income fell 24.6% to $781M as a 21.2% surge in SG&A expenses crushed operating margins to 4.5% from 6.2% a year ago.

Lowe's delivered strong Q2 FY2026 revenue growth of 10.3% to $23.1B, but net income slipped 0.8% to $1.6B as higher SG&A costs and a lower gross margin compressed profitability despite solid operating cash flow of $3.4B.

Home Depot delivered Q2 FY2026 revenue of $41.8B (+4.8% YoY), but profitability compressed with net income falling 4.2% to $3.3B as cost pressures and higher SG&A weighed on margins, while operating cash flow surged 39.5% to $6.0B.

McDonald's delivered a strong Q1 FY2026 with revenue rising 9.4% YoY to $6.52B and operating income surging 11.5% to $2.95B, reflecting robust franchise-driven margin expansion despite elevated long-term debt of $40.1B.

Disney reported Q2 FY2026 revenue of $25.2B (+6.5% YoY), but net income fell sharply to $2.2B (-31.4% YoY), reflecting higher costs and non-operating headwinds even as operating income grew modestly to $4.6B.

Starbucks reported strong financial performance in Q2 FY2026 with significant growth in revenue and net income, despite challenges in cash flow and equity position.