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Earnings Analysis: 
Saks Earns Rise on After-tax Gain
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:34 AM EDT May 16 2006



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Saks Inc, department store operator, reported Q1 earnings of 60 cents a share, up from a profit of 11 cents a share a year-ago. Q1 includes a net after-tax gain of 52 cents a share, primarily connected with the sale of its SDSG Northern Department Store Group assets, among other items.

 
Saks Inc, (SKS: chart), said the year-earlier results include a net after-tax gain of a penny a share, mainly from the sale of assets related to certain Saks Fifth Avenue Enterprises stores. Sales dropped in Q1 to $1.04 billion from $1.55 billion in the same period a year ago. The analysts’ forecasts were for a profit of 9 cents a share.

Staples Inc, (SPLS: chart), office products retailer, reported Q1 earnings of 25 cents a share, up from a profit of 20 cents a share a year-ago. The company sales advanced 9% in Q1 to $4.24 billion from $3.9 billion in the same period a year ago. The company topped analysts’ expectations for a profit of 23 cents a share. in the April period. The company said North American Retail same-store sales advanced 1% higher as a weaker performance in furniture and technology offset positive customer traffic and strong comps in core supplies categories and copy and print services.

BJ''s Wholesale Club Inc, (BJ: chart), warehouse club retailer, reported that Q1 income dropped to 23 cents a share, from 27 cents a year earlier. If not for items, the company would have reported earnings of 24 cents a share. Revenue rose to $1.92 billion from $1.81 billion, while same-store sales advanced 2%. The company topped analysts’ views for earnings of 19 cents a share.

American Eagle Outfitters Inc., (AEOS: chart), casual apparel retailer, reported Q1 earnings of 42 cents a share, up from a profit of 35 cents a share a year-ago. Q1 includes 2 cents a share in stock option expensing. Sales advanced 14% in Q1 to $522.4 million from $456.5 million in the same period a year ago. Same-store sales rose 9%. The company beat average analysts’ estimate by a penny.

Dick''s Sporting Goods Inc, (DKS: chart), specialty retailer, reported Q1 earnings of 21 cents a share, up from a pro forma profit of 16 cents a share a year-ago. The year-ago pro forma results are connected with 6 cents a share for stock option expensing as if the company expensed stock options then and excludes merger integration and store closing costs. Sales advanced 13% and same-store sales rose 6.5% in the quarter. The company topped analysts’ estimate for a profit of 17 cents a share.
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