Costco, Big Lots, Fred's Earnings Rise
May 29, 12:53 PM EDT |
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| Costco and Fred's reported rising sales and earnings as consumers look for discounts. Costco, membership dues generate most of the earnings. |
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| The discount retailers Costco, Freds and Big Lots benefited in the latest quarter as consumer look for discounts. Sears swung to a quarterly loss after same store sales declined. Costco sales rose 13% to $16.26 billion and net income increased 32% to $295 million. Earnings per share rose to 67 cents. Big Lots sales rose 2.1% to $1.15 billion and earnings increased 16% to $34.5 million or 42 cents per share. |
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Jo-Ann, Coldwater Rise; Men's Wearhouse Falls
May 29, 11:40 AM EDT |
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| The Men's Wearhouse falls 10% after it reported net revenue in the first quarter fell 1%. |
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| The Mens Wearhouse revenue in the first quarter slipped 1% to $491 million and net income fell 76% to $9.9 million or 75 cents per share. Fabirc and craft retailer revenue in the first quarter rose 5% $446.1 million and net income rose to $3 million or 12 cents per share. In additon, Coldwater Creek first quarter revenue fell 4% to $271 million and loss of $9.2 million or 10 cents per share. |
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Chico's Surges 10%, Earnings Fall 73%
May 28, 1:31 PM EDT |
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| Chico's, battered apparel retailer reported another quarter of declining revenue and earnings. But, the retailer plans to open more stores. |
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| Chicos, apparel retailer reported first quarter sales declined 9.6% to $409.6 million and net income of fell 73% to $12.7 million. Earnings per share in the quarter fell to 7 cents compared to 27 cents in the quarter a yeara go. Same store sales in the quarter fell 17.5% across all stores and at Chicos fell 22%. In the quarter the company opened 23 net new stores and plans to open between 17 and 19 net additonal stores in the second quarter. |
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American Eagle Rises 8%, Earnings Fall 56%
May 28, 1:09 PM EDT |
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| For the fiscal 2008 the apparel retailer plans to spend between $250 million and $275 million in capital expenditures. |
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| American Eagle reported first quarter sales rise of 5% to $640 million but earnings declined to $43.9 million or 21 cents per share. Comparable sales in the quarter fell 6% from a year ago when they by the same amount. In fiscal 2008, the company plans to open approximately 40 AE stores, 80 aerie stores and 11 MARTIN + OSA stores and remodel 40 to 50 AE stores. |
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Chico's, American Eagle, Lauren Rise
May 28, 4:33 PM EDT |
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| Ralph Lauren surged 10% and Chico's soared 13% and American Eagle advanced 8%. |
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| Apparel retailers American Eagle Outfitters, Polo Ralph Lauren and Chicos rose after the earnings release. American Eagle first quarter sales increased 5% to $640.3 million and net income decreased to 40% to $43.90. Chicos revenue first quarter decreased 9.6% to $409.60 and net income fell 73% to $12.70 million or 7 cents per share. Polo Ralph Lauren fourth quarter revenue increased 20% to $1.24 billion and net income in the quarter rose to 47% to $104 million and to $1.00 per share. |
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Daktronics Surges 13% on Earnings Rise
May 28, 11:31 AM EDT |
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| Daktronics surged after it said sales in fiscal 2009 are expected to rise 20% and operating margin in the range between 8% and 9.5%. |
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| Daktronics, the electronic bill board maker surged 13% after it reported 62% rise in fiscal fourth quarter eanings. Sales in the fourth quarter 2008 roe 16.5% to $129 million and earnings increased 62% to $5.71 million. Backlog at the end of the quarter rose to a record $175 million. In the fiscal 2008, sales rose 15% to $500 million and earnings rose 8% to $26.21 million or 63 cents per share. |
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Longs Drug Surges, Limited Struggles
May 22, 4:24 PM EDT |
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| Longs Drug same store sales rose 1% and total sales at the storesrose 2.9%. For the year store sales are expected to rise between 5% and 7%. |
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| The drug retailer Longs Drug Stores revenues in the first quarter rose 8.5% to $1.41 billion and earnings increased 77% to $23.5 million. Earnings per share rose 65 cents from 34 cents a year ago. Same store sales at retail drug stores rose 1% and total sales increased 2.9%. Apparel retailer Limited Brands first quarter sales declined 17% to $1.9 billion and earnings increased 49% to $97.8 million or 28 cents per share. The quarter included one-time gain of 18 cents per share. |
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GameStop, Dick's Fall; Children's Place Rises
May 22, 11:54 AM EDT |
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| U.S. stocks gained after the release of weekly claims of unemployment at the end of the last week. Crude oil traded above $135 a barrel. |
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| U.S. stocks edged higher on the weekly unemployment report. The fall in claims at the end of the last week, lower than expected lifted market averages. Ford Motor cut its production target for the next two quarters by 20% and said that it may only break-even in the year 2009. Earlier it had estimated a return to profitability by the year. UBS offered rights at 31% discount from its closing price on yesterday. |
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DryShips, Excel Leverage Strategic Role
May 20, 10:46 AM EDT |
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| Dry bulk carriers leverage their strategic role of the vital link between miners of coal, iron ore and grain farmers and consumers in China, India. |
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| Dry bulk ocean freight carriers DryShips and Excel Maritime report a surge in revenue and earnings on rising day rates, enhanced fleet mix and improved utilization helped the carriers to improve earnings. DryShips is expected to take a delivery of three recently built ships in the second quarter and a new ship by the end of the year. Excel Maritime, with the recent acquisition of Quintara is expected to boost its fleet size to 47 with carrying capacity of 3.7 dwt. |
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Decline in Sales at Home Depot, Lowe's
May 20, 10:00 AM EDT |
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| Earnings and sales decline in the first quarte at Home Depot and Lowe's as consumer curb spending on home improvements. |
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| Home Depot reported first quarter sales decline of 3.4% and earnings drop of 66%. Excluding one-time charges related to store closing and deferrals the earnings in the quarter fell to 41 cents or $697 million from 53 cents per share or $1 billion. Separately Lowes reported sales decline of 1.3% to $12 billion and earnings in the quarter. Earnings dropped 18% to $607 million and earnings per share declined to 41 cents from 48 cents. |
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