2 Retail and Wholesale Stocks Investors Are Watching for Possible Earnings Beats

Carvana Co. (CVNA) and On Holding AG (ONON) are gaining attention after Zacks highlighted both names as retail and wholesale stocks with positive earnings surprise potential. The Zacks article was published on April 27, 2026 and listed CVNA and ONON as the two stocks in focus.

Why Earnings Surprises Matter

Quarterly earnings are one of the most important moments for publicly traded companies. Investors watch earnings per share, revenue, margins, guidance, and management comments to judge whether a company is improving or slowing down.

A company does not always need perfect results to move higher. Often, the key question is whether it performs better than Wall Street expected. When a company beats earnings estimates, investors may see that as a sign of stronger demand, better cost control, or improving business momentum.

What Zacks Earnings ESP Means

Zacks uses a metric called Earnings ESP, or Expected Surprise Prediction. This tool compares the Most Accurate Estimate with the broader Zacks Consensus Estimate. A positive ESP can suggest that newer analyst estimates are higher than the general consensus.

According to Zacks-related coverage, combining a positive Earnings ESP with a Zacks Rank of #1, #2, or #3 has historically helped identify companies more likely to post positive earnings surprises. Nasdaq’s syndicated Zacks article explains that this combination has produced positive surprises about 70% of the time in Zacks’ research.

Carvana: Online Auto Retailer in Focus

Carvana is an online used-car retailer known for digital vehicle buying, financing, and delivery. The company became a major name in e-commerce-style auto retail, and its stock often reacts strongly around earnings because investors closely watch profitability, vehicle sales, debt levels, and cash flow.

For the April 27 Zacks screen, Carvana appeared as one of the highlighted retail and wholesale stocks. A related Zacks search result noted that Carvana was preparing to report earnings on April 29, 2026, and another Zacks result showed a previously reported positive Earnings ESP figure of +13.07% for Carvana in an April 2026 article.

This does not guarantee an earnings beat. However, it shows that recent analyst estimate activity had turned more favorable than the broader consensus at that time. For investors, that can be a signal to watch the report closely.

Key Carvana Factors to Watch

Investors may focus on several areas in Carvana’s earnings report:

Retail units sold: This shows whether customer demand is growing.

Gross profit per unit: This helps measure how much profit Carvana earns from each vehicle sold.

Revenue growth: Stronger sales can support confidence in the business model.

Debt and cash flow: These are important because Carvana has faced balance-sheet questions in past years.

Management guidance: Future expectations may matter as much as the current quarter.

On Holding: Premium Sportswear Brand with Growth Potential

On Holding AG, trading under ticker ONON, is a sportswear company best known for running shoes and athletic apparel. The brand has grown through premium products, global expansion, and strong consumer interest in performance footwear.

Zacks also listed ONON in the April 27, 2026 article alongside Carvana. The search result for the same Zacks article specifically showed CVNA and ONON as the two quick-quote stocks connected to the report.

For On Holding, investors often look at sales growth, direct-to-consumer performance, wholesale demand, margins, inventory levels, and international expansion. Because ONON is still viewed as a growth-oriented brand, the market may reward signs of strong demand and disciplined cost management.

Key On Holding Factors to Watch

Revenue growth: Investors want to see whether the brand is still expanding at a healthy pace.

Gross margin: Strong pricing power can support higher profitability.

Direct-to-consumer sales: Selling directly through stores and online channels can improve brand control.

Wholesale partnerships: Retail partners can help the company reach more customers.

Guidance: Future outlook can affect how investors value the stock.

Why Retail and Wholesale Stocks Are Sensitive to Earnings

Retail and wholesale companies can move sharply after earnings because their results reveal consumer strength. When shoppers spend confidently, many retailers benefit. When consumers pull back, companies may face lower sales, higher discounts, and weaker margins.

For Carvana, consumer affordability is important because vehicles are expensive purchases. Interest rates, loan availability, used-car prices, and customer confidence can all affect demand. For On Holding, demand depends more on brand strength, product popularity, and consumer willingness to pay premium prices.

Positive ESP Is Helpful, But Not a Guarantee

A positive Earnings ESP can be useful, but it should not be treated as a promise. Earnings reports can surprise investors in many ways. A company might beat EPS estimates but disappoint on revenue. It might report strong current results but issue weak guidance. It might also beat expectations, yet the stock could fall if investors expected an even stronger performance.

That is why investors should use Earnings ESP as one tool, not the only tool. It works best when combined with valuation analysis, industry trends, balance-sheet review, and risk management.

Investor Takeaway

Carvana and On Holding are both worth watching because they sit in consumer-facing industries where earnings results can quickly change market sentiment. Zacks highlighted both companies as retail and wholesale stocks with potential earnings-beat signals, making them names to monitor during earnings season.

Carvana offers exposure to online auto retail, a business that can deliver strong gains when execution improves but can also carry higher volatility. On Holding offers exposure to premium athletic footwear and apparel, where brand momentum and global growth are central to the investment story.

Bottom line: CVNA and ONON may attract investor attention because of positive earnings surprise indicators, but any decision should consider the full earnings report, company guidance, market conditions, and personal risk tolerance. This article is for informational purposes only and is not financial advice.

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