1Q25 Revenue: $4.64B, +11.3% YoY, beat estimates by $0.11B
1Q25 Non-GAAP EPS: $1.26, beat estimates by $0.05
2Q25 Guidance: Expect net sales growth to be at the higher end of the range of 3.0% to 5.0%; Expect adjusted EPS to be down as much as 45.0% to 50.0% YoY.
FY25 Guidance: Expect net sales to be between $18.5bn to $19.1bn, midpoint of $18.8bn below consensus of $18.95; Expect adjusted EPS to be between $5.15 to $5.65, midpoint of $5.40 above consensus of $5.21.
Comment: Dollar Tree delivered stronger-than-expected 1Q25 results but cautioned about near-term headwinds from tariffs. Net sales rose 11.3% YoY, supported by a 2.5% increase in customer traffic, including gains from higher-income shoppers. Same-store sales grew 5.4%, outpacing the consensus estimate of 4.0%. Despite the solid performance, management warned of “some earnings volatility” ahead due to elevated tariffs and rising labor costs. For the current quarter, the company expects earnings to decline 45%–50% YoY, citing a $70 million increase in cost of goods sold stemming from the timing of some imports affected by the U.S. tariff hike on Chinese goods to 145%. Looking ahead, Dollar Tree anticipates a recovery in the second half of the year and reiterated its full-year guidance. The company also raised its FY25 outlook to reflect planned share repurchases, signaling confidence in its long-term growth trajectory. 2Q25recommended trading range: $80 to $100. Neutral Outlook.
1Q26 Revenue: $549.01M, +21.9% YoY, beat estimates by $21.53M
1Q26 Non-GAAP EPS: $1.00, beat estimates by $0.34
2Q26 Guidance: Expect total revenue to be between $548M to $553M, non-GAAP income from operations to be $55M to $59M and non-GAAP net income per share to be $0.62 to $0.66.
FY26 Guidance: Expect total revenue to be between $2.25B to $2.29B, non-GAAP income from operations to be $267M to $287M and non-GAAP net income per share to be $2.94 to $3.12.
Share buyback: Announced an increase to its share repurchase program, under which the company may repurchase up to an additional $800M of common stock. This is in addition to the $200M buyback announced last quarter, bringing the total authorization to $1B.
Comment: MongoDB reported a strong first quarter, with revenue rising 22% YoY to US$549mn, surpassing guidance. Its cloud-native platform, Atlas, remained the key growth driver with a 26% increase, now accounting for 72% of total revenue. The company posted a non-GAAP operating income of US$87mn, 16% margin and added over 2,600 customers, the highest in more than six years, bringing the total to over 57,100. Growth was broad-based, with strong traction in the self-serve channel, highlighting MongoDB’s appeal among developers building AI-powered applications. Retention remained strong, reinforcing the platform’s critical role in modern application stacks. The company saw continued migration from legacy systems, with customers switching to MongoDB Atlas to improve scalability and performance. Its AI capabilities were significantly boosted by the acquisition of Voyage AI, which delivers high-quality, domain-optimized embeddings. The release of Voyage 3.5 improved embedding performance and reduced storage costs by over 80%, reinforcing MongoDB’s technical and cost advantage. Financially, the company remains solid, with US$2.5bn in cash, US$106mn in free cash flow, and an expanded US$1bn share repurchase program. MongoDB raised its full-year revenue outlook to US$2.25-2.29bn and increased its operating margin guidance to 12%. Looking ahead, MongoDB is well-positioned to lead as demand for AI-native and data-driven applications accelerates. Its unified, developer-friendly platform, combining real-time analytics, intelligent search, and vector-based retrieval, offers a scalable, efficient foundation for modern applications. Supported by strong fundamentals, strategic investments, and growing market adoption, MongoDB is confident in its ability to sustain long-term growth and innovation. 2Q26recommended trading range: $210 to $250. Positive Outlook.
1Q25 Revenue: $1.98B, +1.5% YoY, beat estimates by $50M
1Q25 Non-GAAP EPS: $2.30, beat estimates by $0.05
2Q25 Guidance: Expect revenue to increase low single digits compared to the 2Q24, flat to increase slightly on a constant currency basis. EPS to be in a range of $1.85 to $2.00 on a non-GAAP basis compared to $2.80 on a GAAP basis and $3.01 on a non-GAAP basis in 2Q24, projection includes an estimated negative unmitigated impact related to the tariffs currently in place for goods coming into the U.S. of approximately $0.20 per share.
FY25 Guidance: Reaffirmed outlook of flat to increase slightly, flat to increase slightly on a constant currency basis. EPS projected to be in a range of $10.75 to $11.00 on a non-GAAP basis compared to a range of $12.40 to $12.75 previously. Operating margin projected to be approximately 8.5% on a non-GAAP basis.
Comment: PVH Corp reported a better-than-expected first quarter results, with EPS of US$2.30 and revenue growing 2% YoY to US$1.98bn, surpassing guidance. Its performance was driven by solid growth in the Americas and EMEA regions, particularly within the Tommy Hilfiger brand, while Calvin Klein remained flat and APAC saw a 13% decline due to macroeconomic challenges and timing shifts in seasonal demand. Despite the strong quarter, the company cut its full-year EPS forecast to US$10.75-US$11.00, down from US$12.40-US$12.75, citing an uncertain global macroeconomic environment, U.S. tariffs, and elevated promotional activity. Gross margin declined to 58.6% from 61.4% YoY, reflecting higher freight costs, product delivery delays, and a less favourable channel mix. The company reaffirmed its flat-to-slight revenue growth outlook but reduced its non-GAAP operating margin forecast to 8.5%, down from 10% in 2024. PVH also completed a US$500mn accelerated share repurchase in Q1 but does not expect further buybacks in 2025. While demand remains resilient in key Western markets and brand momentum continues for Calvin Klein and Tommy Hilfiger, challenges in Asia-Pacific, elevated inventory levels, and rising cost pressures will likely weigh on near-term profitability. Tariff-related headwinds alone are expected to reduce FY25 EPS by approximately US$1.05, only partially offset by mitigation efforts and minor currency tailwinds. Management is taking proactive steps to strengthen the second half, including cost-saving initiatives under its “Growth Driver 5” program and increased marketing investment to drive brand equity and consumer engagement. However, the lowered earnings guidance suggests these efforts may take time to materially impact margins. 2Q25recommended trading range: $65 to $85. Neutral Outlook.
