The Week Ahead
May 25, 2026
Economic news
Baker Hughes Oil Rig Count
At a time when high fuel prices are on many Americans’ minds, the Baker Hughes oil rig count will be announced on Friday May 29th. Crude oil rigs in the United States ran an average of 498 rigs from 1987 to 2026. Oil prices, and subsequent gas and diesel prices, have been a rough spot for consumers over the last months as the conflict with Iran carries on, putting a tight grip on energy globally1.
U.S. GDP
U.S. GDP (Second Estimate for Q1 2026) — Scheduled for Thursday, the updated estimate for first-quarter economic growth will be released. Initially estimates came in a 2.0%2. Investors will watch closely to see whether economic activity was revised higher or lower, as the report could influence expectations for corporate earnings, consumer demand, and future Federal Reserve policy3.
Earnings Related Market Movers
Abercrombie & Fitch (ANF)
Abercrombie is down a painful 39% year to date, even though it finished the full year with a 6% increase in net sales. The main culprit for the decline in share price seems to be a decrease in operating income, lowering operating margins4. Recently, hedge fund Delta Global Management LP exited its stake in the company, valued at over $19 million5.
One of the main areas of focus next week will likely be whether Abercrombie can continue its increasing sales, while translating those increases into actual operating income. Analysts and investors will undoubtedly be looking to see if they match guidance, which called for net sales to increase in the range of 1% to 3% in the first quarter.
Best Buy (BBY)
Down 13% year to date, Best Buy is coming off a rather weak fourth quarter. Same store sales declined 0.8% year over year, and adjusted earnings per share grew a modest 1.1% on an adjusted basis6. Best Buy has had years of stagnant sales growth, and investors have been looking for a change in the trend. Because of that, the stock is trading rather inexpensively at 12 times earnings per share.
Looking to the first quarter of this new year, investors will probably be hoping for momentum to pick up. Guidance for fiscal 2027 is calling for revenue to be in the $41.2 billion to $42.1 billion range, which would mark a 0.9% increase year over year.
Overall, it seems like a difficult environment for Best Buy right now. Consumers are strained by high prices at the grocery store and the fuel pump, which can make it difficult to spend money on tech.
Kohl’s (KSS)
Year to date, Kohl’s shares are down 42%. The retailer has struggled to find its footing in a world perpetually more aligned with E-commerce. The company has seen annual sales growth decline for four years in a row. Most recently, Kohl’s reported fourth quarter results that included a 3.9% decline in net sales, and a 2.8% decline in comparable sales. In all, fiscal year 2025 saw a 4% decrease in net sales7.
Investors will be looking for any sign that Kohl’s can turn things around in its first quarter results. Unfortunately, guidance does not seem to suggest this. 2026 guidance from the company called for net sales and comparable sales to likely decline by 2%, or be flat for the year, while adjusted diluted earnings per share are anticipated to be $1.00 to $1.60. By comparison, adjusted net income in 2025 was $1.62 per diluted share.
1 https://tradingeconomics.com/united-states/crude-oil-rigs
2 https://www.bea.gov/news/2026/gdp-advance-estimate-1st-quarter-2026
3 https://tradingeconomics.com/united-states/gdp-sales-qoq
4 https://corporate.abercrombie.com/investors/news-and-events/news/news/?id=26266
5 https://www.fool.com/coverage/filings/2026/05/16/hedge-fund-delta-global-exited-its-stake-in-abercrombie-and-fitch-stock-here-s-what-that-means-for-investors/
6 https://s204.q4cdn.com/864376893/files/doc_earnings/2026/q4/earnings-result/Best-Buy-Reports-Fiscal-Fourth-Quarter-2026-Results.pdf
7 https://s204.q4cdn.com/271435555/files/doc_earnings/2025/q4/earnings-result/KSS-Q4-2025-Earnings-Release-Final.pdf
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