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Earnings Analysis: 
Tiffany, Zales Surge; Sears Struggles
Author: 123jump.com Staff
123jump.com
Last Update: 9:57 AM ET August 28 2008



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Del Monte Foods a marketer of branded food first quarter revenues rose 14% to $726.2 million and net loss was $10.1 million or 5 cents a share. Gerber Scientific first quarter revenues rose 3.27% to $158.9 million and net income was $0.7 million or 3 cents a share. Sears Holdings Corporation second quarter revenues decreased 4.27% to $11.7 billion and net income declined 62% to $65 million or 50 cents a share.

 
[R]9:40AM New York – Del Monte Foods Company revenue rose 14% and net loss was $10.1 million. Gerber Scientific, Inc revenue rose 3.27% and net income was $0.7 million.[/R]

Del Monte Foods Company, a producer, distributor and marketer of branded food and pet products for the United States retail market reported first quarter revenues rose 14% to $726.2 million from $626.8 million a year ago. Net loss in the quarter was $10.1 million or 5 cents per diluted share compared to net income of $3.5 million or 2 cents per share, a year ago.

Del Monte Foods Company (DLM: chart) in the last one year traded as high as $11.15 in August 2007 and as low as $6.78 in July 2008. Based on the yesterday’s closing price the company has a market cap of $1.70 billion.

Gerber Scientific, Inc, a worldwide provider of equipment, software, aftermarket materials reported first quarter revenues rose 3.27% to $158.9 million from $153.7 million a year ago. Net income in the quarter was $0.7 million or 3 cents per diluted share compared to net income of $2.8 million or 12 cents per share, a year ago.

Gerber Scientific, Inc (GRB: chart) in the last one year traded as high as $12.64 in July 2008 and as low as $7.56 in March 2008. Based on the yesterday’s closing price the company has a market cap of $238.3 million.

Sears Holdings Corporation, a broadline retailer with 2,317 full-line and 1,150 specialty retail stores in the United States reported second quarter revenues decreased 4.27% to $11.7 billion from $12.2 billion a year ago. Net income in the quarter declined 62% to $65 million or 50 cents per diluted share compared to net income of $173 million or $1.15 per share, a year ago.

Comparable same store sales in the quarter declined 6.7%.

Sears Holdings Corporation (SHLD: chart) in the last one year traded as high as $152.91 in October 2007 and as low as $67.36 in July 2008. Based on the yesterday’s closing price the company has a market cap of $11.48 billion.

Tiffany & Co, a jeweler and specialty retailer reported second quarter sales increased 11% to $732.4 million from $662.5 million a year ago. Net income in the quarter rose 21% to $80.8 million or 63 cents per diluted share compared to net income of $40.4 million or 48 cents per share, a year ago.

Comparable store sales rose 1%.

Tiffany & Co (TIF: chart) in the last one year traded as high as $57.34 in October 2007 and as low as $32.84 in January 2008. Based on the yesterday’s closing price the company has a market cap of $4.99 billion.

The Toronto-Dominion Bank, a Canadian bank reported third quarter revenues increased 17.5% to C$4.0 billion from C$3.3 billion a year ago. Net income in the quarter was C$997 million or C$1.21 per diluted share compared to net income of C$1.12 billion or C$1.51 per share, a year ago.

The Toronto-Dominion Bank (TD: chart) in the last one year traded as high as $77.63 in October 2007 and as low as $53.01 in July 2008. Based on the yesterday’s closing price the company has a market cap of $45.68 billion.

Wimm-Bill-Dann Foods OJSC, a Russian manufacturer of dairy and juice products reported second quarter sales increased 30% to $1,492.1 million from $1,147.2 million a year ago. Net income in the quarter rose 19.4% to $78.6 million or $1.79 per diluted share compared to net income of $65.8 million or $1.50 per share, a year ago.

Wimm-Bill-Dann Foods OJSC (WBD: chart) in the last one year traded as high as $145.28 in January 2007 and as low as $69.94 in August 2008. Based on the yesterday’s closing price the company has a market cap of $3.33 billion.

Zale Corporation, a leading specialty retailer of fine jewelry in North America reported fourth quarter revenues increased 6.1% to $456 million from $430 million a year ago. Net loss in the quarter was $4.9 million or 15 cents per diluted share compared to net income of $1.5 million or 3 cents per share, a year ago.

Comparable store sales rose 6.1%.

Revenues for the twelve months ended July 31, 2008 were $2.14 billion compared to $2.15 billion last year, a decrease of 0.7%. Comparable store sales for the twelve months ended July 31, 2008 decreased 0.7%. Earnings from continuing operations for the twelve months ended July 31, 2008 were $3.7 million or $0.09 per diluted share, compared to earnings of $48.1 million, or $0.98 per diluted share for the twelve months ended July 31, 2007. Approximately 17.6 million shares were repurchased in fiscal 2008 at an average price of $18.59. This represents approximately $327 million of the $350 million stock repurchase authorization a 36% reduction in actual shares in fiscal 2008.

Zale Corporation (ZLC: chart) in the last one year traded as high as $26.44 in October 2007 and as low as $12.48 in January 2008. Based on the yesterday’s closing price the company has a market cap of $818.03 million.
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