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    Warren Cheng

    Senior Analyst on the Consumer Softlines team at Evercore ISI

    Warren Cheng is a Senior Analyst on the Consumer Softlines team at Evercore ISI, specializing in equity research covering major retail companies such as DICK'S Sporting Goods Inc., Nordstrom Inc., and Carter's Inc. He has built a consistent performance record, maintaining a 57.14% success rate and generating an average return of 2.31% on his investment recommendations, according to StockAnalysis ratings. Cheng began his career as a management consultant in 2007, transitioned to equity research, and joined Evercore as a Consumer Analyst in 2015 after earning his undergraduate degree in 2004. He holds professional credentials tracked by FINRA and is recognized for his focused expertise in the retail and consumer sector.

    Warren Cheng's questions to DICK'S SPORTING GOODS (DKS) leadership

    Warren Cheng's questions to DICK'S SPORTING GOODS (DKS) leadership • Q2 2024

    Question

    Warren Cheng inquired about the ultimate potential for Fieldhouse store conversions and the SG&A profile of these locations. He also asked if smaller House of Sport formats are converging with the Fieldhouse concept.

    Answer

    President and CEO Lauren Hobart described the Fieldhouse concept as 'the future of DICK'S Sporting Goods,' with no set limit on conversions. CFO Navdeep Gupta noted that while Fieldhouse stores have higher SG&A for elevated service, they deliver a strong bottom-line profile with EBITDA margins over 20%. Lauren Hobart clarified that House of Sport remains distinct due to its larger, more interactive experiences, though learnings are shared across all formats.

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    Warren Cheng's questions to JWN leadership

    Warren Cheng's questions to JWN leadership • Q4 2024

    Question

    Asked for more detail on the credit revenue impact from the CFPB ruling, including the proportion of late fees. Also inquired about the productivity and ramp-up performance of new Rack stores compared to the existing base.

    Answer

    The company declined to give a specific percentage for late fees but confirmed the estimated impact of the new rule is already in their 2024 guidance. New Rack stores are slightly more productive than the average store on a sales-per-square-foot basis, and the company is focused on sustaining their initial strong performance.

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