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Earnings Analysis: 
Jo-Ann, Coldwater Rise; Men's Wearhouse Falls
Author: 123jump.com Staff
123jump.com
Last Update: 11:40 AM EDT May 29 2008



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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.

 
[R]11:30AM New York – Apparel retailers report mixed results. Jo-Ann Stores sales rose 5% but sales at Coldwater Creek and Men’s Wearhouse fell 4% and 1% respectively.[/R]

Coldwater Creek Inc, a specialty retailer of women\''s apparel said first quarter revenues fell 4% to $271.1 million from $281.3 million a year ago. Net loss in the quarter was $9.2 million or 10 cents per diluted share compared to net income of $12 million or 13 cents per share, a year ago.

Same-store sales fell 19% in the quarter from a year ago. The company said the revenue decline was mainly due to a decline in traffic. The company\''s premium retail store inventory per square foot fell 16%, while total inventory declined 10% to $126.6 million.

Coldwater Creek Inc stock (CWTR: chart) closed at $6.22 in Wednesday’s trading.

The Dress Barn, Inc, operates a chain of women\''s apparel specialty stores said third quarter sales rose 1% to $352.6 million from $347.9 million a year ago. Net income in the quarter rose 8% to $24.9 million or 39 cents per diluted share compared to net income of $23.1 million or 33 cents per share, a year ago.

Same-store sales, however, fell 3% during the period. Same-store sales for Dressbarn stores dropped 6%, while comparable sales at the company\''s Maurices stores gained 5%.

The Dress Barn, Inc stock (DBRN: chart) in Wednesday’s trading closed at $14.01.

Jo-Ann Stores, Inc, fabric and craft retailer stores said first quarter sales rose 5% to $446.1 million from $424.2 million a year ago. Net income in the quarter was $3 million or 12 cents per diluted share compared to net loss of $1.7 million or 7 cents per share, a year ago.

Same-store sales rose 4.5% during the quarter. Total sales at large-format stores rose 5% to $230.2 million, while same-store sales rose 3.3%. Total sales at small-format stores rose 1.4% to $207.7 million, with same-store sales rising 5.8%.

Jo-Ann Stores, Inc stock (JAS: chart) closed at $21.15 in Wednesday’s trading.

The Men’s Wearhouse, Inc, apparel retailer said first quarter revenues slipped 1.01% to $491.1 million from $496.1 million a year ago. Net income in the quarter dropped 76% to $9.9 million or 19 cents per diluted share compared to net income of $40.9 million or 75 cents per share, a year ago.

The Men’s Wearhouse, Inc stock (MW: chart) closed at $23.62 in Wednesday’s trading.

The Toronto-Dominion Bank, Canada\''s third-largest bank by assets, said second quarter revenues slipped 4.4% to $3.39 billion from $3.60 billion a year ago. Net income in the quarter dropped 4% to C$841 million or $848.6 million or $1.12 per diluted share compared to net income of C$872 million or $1.20 per share, a year ago.

The Toronto-Dominion Bank stock (TD: chart) closed at $69.12 in Wednesday’s trading.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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