12:30 PM New York – Retailers decline after the release of earnings.
Blockbuster Inc. (
BBI: chart), a movie rental and retailer, reported revenues increased 3.6% to $1.57 billion in for the fourth quarter of 2007 from $1.51 billion a year ago. Net income for the fourth quarter of 2007, was $38.1 million, or $0.18 per diluted share, an increase of $29.8 million as compared with net income of $8.3 million, or $0.04 per diluted share, for the quarter of 2006.
2007 revenues increased 0.3% to $5.54 billion from $5.52 billion in 2006. Full year net loss totaled $85.1 million, or $0.45 per share, as compared to net income of $39.2 million, or $0.21 per diluted share, for 2006.
Blockbuster stock fell 9 cents to $2.95.
Gerber Scientific, Inc. (
GRB: chart), an equipment maker reported revenue in the fiscal third quarter 2008 increased to $152.0 million compare to $137.1 million from a year ago. Net income in the quarter was at $3.1 million or $0.13 per diluted share versus net income of $2.2 million, or $0.10.
Gerber stock rose 37 cents to $8.21.
Orbitz Worldwide, Inc. (
OWW: chart), an online travel information company said fourth quarter net revenue increased 10% to $197 million from $179 million in the same quarter of last year with a net loss of $11 million, wider than a loss of $5 million in the prior year quarter. Losses per share for the period were $0.13.
Net revenue for the year ended 2007 increased 14% to $859 million versus $752 million in 2006. Full year net loss declined to $85 million in 2007 compared to a net loss of $146 million in 2006.
Orbitz stock fell 89 cents to $5.72.
Urban Outfitters, Inc. (
URBN: chart), a casual apparel retailer reported net sales in the fourth quarter soared 29% to a record $465 million with earnings of $53.6 million. Earnings per diluted share were $0.32 for the quarter versus $ 0.21 in the comparable period in 2007.
Comparable store sales at Anthropologie, Free People and Urban Outfitters rose by 18%, 19% and 6%, respectively, for a combined 11% increase.
For the full year sales increased 23% to a record $1.5 billion. Full year 2008 earnings were $160.2 million and earnings per diluted share were $0.94 for the year compare to $ 0.69 for a year-ago.
During the year ended January 31, 2008 the Company opened 16 Urban Outfitters stores, 15 Anthropologie stores and 7 Free People stores or 38 new stores in total. The Company plans to open 45 to 49 new stores during fiscal year 2009.
Urban Outfitters stock fell 8 cents to $29.26.
Coldwater Creek Inc. (
CWTR: chart), a specialty retailer said that for the fourth quarter ended on February 2, 2008 net sales were $345.5 million, compared with $366.6 million in the fourth quarter of 2006. For the fourth quarter net loss was $17 million, or 19 cents a share, from a net profit of $15.9 million, or 17 cents a share, in the same quarter a year earlier.
For the full year, net sales were $1.15 billion versus $1.05 billion in 2006. Sales from the retail segment were $775.1 million versus $664.2 million in the comparable period last year. Direct sales were $376.4 million, compared with $390.4 million in 2006.
Net loss for the year was $2.5 million, or $0.03 per basic and diluted share, compared with net income of $55.4 million, or $0.59 per diluted share, in the last year of 2006.
The Company opened 12 new stores during the three-month period ended February 2, 2008, bringing its store count at the end of the fiscal year to 306 stores. The Company anticipates opening approximately 50 new stores in fiscal 2008.
The company anticipates fiscal 2008 sales to be between $1.05 billion and $1.125 billion and generate a loss of 20 cents to breakeven.
In addition, the Company plans to spend approximately $10 million on national brand advertising in fiscal 2008 and expects to mail approximately 104 million catalogs, of which, approximately 32 million will be the Coldwater Creek Catalog. This compares with approximately $30 million in 2007 on national brand advertising and approximately 129 million catalogs mailed in fiscal 2007, of which, approximately 30 million were associated with the retail store-focused Coldwater Creek Catalog.
