12:00 PM New York – Campbell Soup third-quarter net declined 5% to $298 million. Deere & Co second-quarter net surged 62% to $802 million. Foot Locker first-quarter net plunged 6% to $180 million. Ross Stores first-quarter net soared 10% to $321 million. Salesforce first-quarter net swung to a loss of $9 million.
Tollbooth Index advanced 86.18 or 0.7% to 12,060.73.
Campbell Soup Company
), the canned soups provider reported revenues in the third-quarter ending in April fell 1% from a year ago to $1.85 billion.
Net income in the quarter declined 4.9% to $298 million or 58 cents per diluted share from $268 million or 59 cents in the same quarter last year.
Campbell Soup said decline in revenues reflected higher promotional spending. However, pretax profit in the quarter soared 11% to $298 million from a year ago period.
The soups maker lowered its fiscal 2017 sales forecast in the range of 1% decline to flat from the earlier estimated range of flat to 1% but lifted operating profit estimate to increase by 2% to 4% from the previously forecasted range of 1% to 4% and diluted earnings per share to jump between 3% and 5% or between $3.04 and $3.09 per share.
The Cato Corporation
), the fashion specialty retailer said sale in the first-quarter ending in April plunged 17% from a year ago to $237.7 million.
Same store sales in the quarter declined 17%.
Net income in the quarter tumbled 38% to $22.2 million or 85 cents per diluted share from $35.9 million or $1.29 in the same quarter last year.
""Our negative sales trend persisted throughout the quarter, impacted margins and earnings as we continued to work through our merchandise missteps,"" and “we expect earnings for the year to below last year,"" said chairman, president and chief executive officer John Cato.
Deere & Company
), the agriculture, turf, construction and forestry equipment maker said revenues in the second-quarter ending in April jumped 5% from a year ago to $8.3 billion.
Net income in the quarter surged 61.9% to $802.4 million or $2.49 per diluted share from $495.4 million or $1.56 in the same quarter last year.
Deere reported higher profit growth for the first time since 2013 after on the improved farm and construction equipment demand.
Deere forecasted fiscal 2017 equipment sales to increase about 9% and to rise about 18% in the third quarter compared with the same periods of 2016.
In fiscal 2017, net sales and revenues are estimated to jump about 9% with net income of about $2 billion.
Foot Locker, Inc
), the shoes and apparel retailer said sales in the first-quarter ending in April rose 0.7% from a year ago to $2 billion.
Comparable store sales in the quarter increased 0.5%.
Net income in the quarter plunged 5.8% to $180 million or $1.36 per diluted share from $191 million or $1.39 in the same quarter last year.
""The first quarter was one of our most profitable quarters ever, but it did fall short of our actual expectations,"" said chairman and chief executive officer Richard Johnson.
The Gap, Inc
), the apparel, accessories and personal care products retailer stated sale in the first-quarter ending in April were nearly flat from a year ago at $3.4 billion.
Comparable store sales in the quarter increased 2%.
Net income in the quarter jumped 12.6% to $143 million or 36 cents per diluted share from $127 million or 32 cents in the same quarter last year.
Gap reaffirmed its full-year diluted earnings per share forecast in the range of $1.95 to $2.05 and continues to expect comparable sales to flat to up slightly.
Ross Stores, Inc
), the apparel and home fashion off-price retailer said sale in the first-quarter ending in April advanced 7% from a year ago to $3.3 billion.
Comparable store sales in the quarter jumped 3%.
Net income in the quarter soared 10.3% to $321 million or 82 cents per diluted share from $291 million or 73 cents in the same quarter last year.
“We remain on track to buy back total $875 million in common stock during fiscal 2017 under the new two-year $1.75 billion authorization approved by the Board of Directors in February,” said chief executive officer Barbara Rentler.
), the enterprise software provider reported revenues in the first-quarter ending in April surged 25% from a year ago to $2.4 billion.
Net in the quarter swung to a loss of $9.2 million or 1 cent per diluted share from profit of $38.8 million or 6 cents in the same quarter last year.
Subscription and support revenues in the quarter jumped 24% to $2.2 billion and professional services and other revenues advanced 32% to $187 million.
Salesforce forecasted second-quarter revenues to increase between 23% and 24% or between $2.51 billion and $2.52 billion while diluted earnings per share in the range of breakeven to 1 cent.
In the year, the service provider estimated revenues to jump in the range of 22% to 23% or to between $10.25 billion to $10.30 billion and diluted earnings per share in the range of 6 cents to 8 cents.