12:00 PM New York – The Cato fourth-quarter net swung to a loss of $13 million. Dollar General fourth-quarter net soared 10% to $414 million. Guess fourth-quarter net plummeted 86% to $7 million. Jabil Circuit second-quarter net tumbled 74% to $21 million. Smart Sand fourth-quarter net swung to profit $12 million.
Tollbooth Index increased 11.47 to 11,655.82.
), the industrial conglomerate said its plans acquire safety gear business, Scott Safety from Johnson Controls International Plc in deal worth about $2 billion.
“Personal safety is a core growth business within the 3M portfolio and the acquisition leverages our fundamental strengths in technology,” said chairman president and chief executive officer Inge G. Thulin.
The Cato Corporation
), the fashion specialty retailer said sales in the fourth-quarter ending on January 28 plunged 12% from a year ago to $218.2 million.
Same store sales in the quarter slumped 12%.
Net in the quarter swung to a loss of $12.8 million or 48 cents per diluted share from profit of $11.8 million or 42 cents per share in the same quarter last year.
""2016 was a very disappointing year for Cato and growth of online sales, resulted in significant reductions to regular priced sales,” chairman, president and chief executive officer John Cato said.
Dollar General Corp
), the discount retailer reported net sales in the fourth-quarter ending on February 3 surged 13.7% from a year ago to $6 billion.
Same store sales in the quarter increased 1%.
Net income in the quarter soared 10.1% to $414.2 million or $1.49 per diluted share from $376.2 million or $1.30 per share in the same quarter last year.
The discount retailer repurchased $990 million or 12.4 million shares under its share repurchase program in 2016 at an average price of $80.17 per share and its quarterly cash dividend by 4%.
The discount retailer forecasted fiscal 2017 net sales to increase 4% to 6% with same-store sales growth to be slightly positive to up 2% and diluted earnings per share in the range of $4.25 to $4.50.
), the lifestyle apparel and accessories retailer said total net revenues in the fourth-quarter ending on January 28 advanced 3.2% from a year ago to $679.3 million.
Net income in the quarter plummeted 86.3% to $6.6 million or 8 cents per diluted share from $47.8 million or 57 cents in the same quarter last year.
The retailer estimated net revenues in fiscal 2017 to range between 0.5% decline and 1.5% increase and diluted net loss per share in the range of 33 cents to 30 cents.
Jabil Circuit, Inc
), the electronic manufacturing services provider reported net revenues in the second-quarter ending in February rose 1.1% from a year ago to $4.45 billion.
Net income in the quarter tumbled 74% to $20.7 million or 11 cents per diluted share from $78.9 million or 41 cents in the same quarter last year.
), the technology, infrastructure and professional services provider stated total revenues in the fourth-quarter ending in December soared 14% from a year ago to $102.5 million.
Net loss in the quarter widened to $3.6 million or 19 cents per diluted share from $0.6 million or 3 cents in the same quarter last year.
PFS lowered revenues forecast in the fiscal 2017 in the range of $240 million to $250 million from earlier estimated range of $245 million to $260 million but reaffirmed operating profit range between $23 million and $26 million, reflecting 26% to 43% growth from fiscal 2016.
Smart Sand Inc
), the raw frac sand producer said revenues in the fourth-quarter ending in December surged 94% from a year ago to $29.5 million.
Net in the quarter swung to profit $12.4 million or 40 cents per diluted share from a loss of $0.1 million or break even cents per share in the same quarter last year.