Fossil kicks off the retail earnings blitz when they release results after today’s closing bell. Contributing analysts on Estimize are expecting Fossil’s earnings per share to come in at $1.84 for Q3, an increase of 26 cents (16.5%) compared to the same quarter of last year. Revenues are expected to grow by 9% year-over-year to $883.26 million. The overall textiles, apparel and luxury goods industry of the S&P 500, which Fossil is a part of, is anticipated to post year-over-year profit growth rate of 10.1%. Six of the eight companies in that industry have reported, and four have seen double digit earnings growth. Thus far, Coach has been the weakest link, with profits falling 31% since the year-ago quarter, while Michael Kors has been the biggest winner, with Q3 profits and revenues both increasing over 40%.

Other big names to watch for this week will be Macy’s on Wednesday, and Walmart, Kohl’s and Nordstrom on Thursday. After Fossil, Macy’s is expected to report the strongest bottom-line results among the retail reports this week. Currently, contributors to the Estimize platform are anticipating that the department store will post EPS of $0.53, which would show a year-over-year increase of 12%, and revs of $6.399B, an increase of 2%. The multiline retail industry, which Macy’s falls within, is expecting the lowest profit growth results of all the retailers at a measly 1.4%. A lot of this weakness is coming from the discounters, with Family Dollar Stores anticipating a 15% drop in profits and Target expected to be down 5.6%.

How Are We Doing?

Expectations for S&P 500 earnings growth for the third quarter stand at 11.6%. Revenues are anticipated to come in with 4.9% growth. All 10 sectors are anticipated to post positive YoY growth on both the earnings and revenue front.

Leaders

Earnings:

Energy (14.6%). Notable industry: Oil, Gas and Consumable Fuels (14.6%)

Consumer Discretionary (14.3%). Notable industry: Internet Retailers (25.3%)

Health Care (13.9%). Notable industry: Biotechnology (45.1%)

Revenues:

Health Care (12.1%). Notable industry: Biotech (39.0%).

Information Technology (7.1%). Notable industry: Software (15.7%)

Laggards

Earnings:

Utilities (2.8%). Notable industry: Gas Utilities (-8.3%).

Telecommunication Services (1.4%): All five companies are within Diversified Telecom Services. Only Verizon posted y­o­y growth.

Revenues:

Energy (1.2%). Notable industry: Oil, Gas and Consumable Fuels (­0.5%).

Materials (2.4%). Notable industry: Paper & Forest Products (­-18.3%).

Beat/Miss/Match

Earnings: With 90% of the S&P 500 reporting thus far, 56% have beaten the Estimize consensus, 34% have missed and 10% have met. This is compared to Wall Street estimates, of which 71% of companies have beat on the bottom­-line, 22% have missed and 7% have met.

Revenue: 52% have beaten the Estimize consensus, 48% have missed, and 0% have met. For revenues, 59% of companies have beat the Wall Street estimate, while 41% have missed.