Earnings Reports for the Week of Dec. 7-11 (CHWY, COST, GME)

Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly.

• Monday (12/7)

• Tuesday (12/8)

• Wednesday (12/9)

• Thursday (12/10)

• Friday (12/11)

(Editor's Note: Earnings dates in tables are tentative. However, companies featured in "Earnings Spotlights" have officially announced their earnings dates.)

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Earnings Calendar Highlights

MONDAY

Noteworthy Earnings Reports

TUESDAY

Earnings Spotlight: Chewy

Online pet retailer Chewy (CHWY, $74.94) will do its best to justify its nearly 160% year-to-date advance after the Dec. 8 closing bell, when it's expected to report its most recent quarterly results.

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Chewy is among the e-commerce plays that have roared ahead in 2020 amid a COVID-necessitated shift to electronic retail. And Credit Suisse analysts expect much of the same from the company's Q3 report.

"We continue to view COVID-related dynamics have accelerated a paradigm shift to online pet spending and the online pharmacy channel," write the analysts, who rate shares at Outperform (equivalent of Buy). "For CHWY, focus will be on COVID-related channel shifts/stickiness of the cohort post COVID, guidance updates, competitive dynamics, success in veterinary relationships and healthcare initiatives, seasonal sales dynamics, and underlying customer acquisition costs/profitability."

Credit Suisse is expecting the company's revenues to improve 39% year-over-year, which is slightly below the consensus estimate of 40.2% growth, which would result in sales of $1.72 billion. The analyst community also expects a loss of 13 cents per share – 35% narrower year-over-year.

Earnings Spotlight: GameStop

Also reporting after the Dec. 8 to justify a wild performance in 2020 is GameStop (GME, $16.90), which is up nearly 180% year-to-date despite the continued erosion of its business.

Indeed, there's little to be excited about in Wall Street's estimates. The pros expect a 24.3% drop in revenues to $1.09 billion, and a net loss of 85 cents per share that would represent a 73.5% swelling.

What gives?

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For one, investor confidence has been growing after RC Ventures, an investment firm managed by Chewy co-founder Ryan Cohen, took a 9.6% stake in the company in August that it later boosted to about 9.9%. He's tasked the board of directors with figuring out how GameStop can leverage its brand in what is a rapidly growing video game industry.

Also exciting investors is the potential for a new generation of video game consoles to juice performance at the retailer – Microsoft (MSFT) and Sony (SNE) have recently released high-powered consoles that have been selling out within minutes each time supply is unleashed.

"This hardware boost and a favorable slate (including Activision Blizzard's Call of Duty: Black Ops Cold War with its predecessor having launched in Q3:19, CD Projekt's Cyberpunk 2077, and Ubisoft's recordsetting Assassin's Creed Valhalla) should result in significant comps growth in Q4:20, with positive hardware momentum likely continuing well into 2021," writes Wedbush's Michael Pachter, who rates the stock at Neutral (equivalent of Hold).

That said, "product mix shift towards lower margin hardware may result in an EPS shortfall."

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Other Noteworthy Reports

WEDNESDAY

Noteworthy Earnings Reports

THURSDAY

Earnings Spotlight: Costco Wholesale

Costco, which reports its results after the Dec. 10 close, might not be posting doublers like Costco and Chewy, but it's still having an excellent year at 27% year-to-date gains to easily outpace the 14.5% gain in the S&P 500.

And its most recent monthly results point to the likelihood of yet another strong quarter.

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Baird analysts (Outperform) point out that the company's 14.6% comparable-store sales growth in November represented the sixth consecutive month that Costco's comps have grown by double digits. "All told, COST's business remains robust by almost any measure."

"We are encouraged by the continued top-line strength at COST – in particular, the building traffic momentum," they write. "When combined with record-high renewal rates and expanding structural cost advantages (i.e., vertical sourcing), we remain bullish on the fundamental outlook at COST.)

The rest of the Street is looking for good things out of Costco, too. They model revenues of $42.4 billion (+14.5% year-over-year) and profits of $2.05 per share (+18.4%).

Other Noteworthy Reports

FRIDAY

Noteworthy Earnings Reports

Reporting schedules provided by Briefing.com and company websites. Earnings estimate data provided by Thomson Reuters via Yahoo! Finance, and FactSet via MarketWatch.

Kyle Woodley was long CHWY as of this writing.

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