U.S. Specialty Retail: Earnings on Deck Week of 05/26/26: Positive AEO, BURL, CPRI, DKS, GAP

Research evidence excerpt

U.S. Specialty Retail: Earnings on Deck Week of 05/26/26: Positive AEO, BURL, CPRI, DKS, GAP

Equity Research

26 May 2026

U.S. Specialty Retail

Earnings on Deck Week of

05/26/26: Positive AEO, BURL,

U.S. Specialty Retail, Apparel & FootwearCPRI, DKS, GAP

POSITIVE

Earnings week: CPRI, BBWI, DKS, ANF on Wednesday 5/27; Unchanged

BURL, AEO, GAP on Thursday 5/28. Despite higher energy U.S. Specialty Retail, Apparel & Footwear

costs weighing on sector sentiment, tax refund tailwinds have Adrienne Yih

been driving 1Q26 upside. We are cautious on macro in 2H26 +1adrienne.yih@barclays.com212 526 5257

BCI, USand see cautious guidance, passing through partial upside.

Michael Vu

+1 212 526 9568

michael.vu@barclays.com

BCI, US

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BCI, US Research Survey

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Earnings on Deck Week of 05/26/26: Positive AEO, BURL, CPRI, DKS, GAP. Our 1Q26 earnings

season continues, and we expect another week of solid retail reports. Our checks show a strong

1Q26, with April/May more choppy, so we look for signals of continued full-price momentum

into 2Q26. Thus far, most of our companies are beating sales / EPS forecasts, with: 1) a resilient

consumer still spending broadly across discretionary categories spurred by tax refunds and 2)