12:00 PM New York – American Eagle first-quarter net tumbled 38% to $25 million. Citi Trends first-quarter net rose 2% to $8.9 million. Jack in the Box second-quarter net soared 15% to $33 million. Target first-quarter net soared 8% to $681 million. Urban Outfitters first-quarter net declined 60% to $12 million.
Tollbooth Index declined 139.78 or 1.2% to 11,966.56.
Earnings Review
American Eagle Outfitters (
AEO), the specialty retailer reported net revenues in the first-quarter ending in April increased 2% from a year ago to $762 million.
Comparable store sales in the quarter rose 2%.
Net income in the quarter tumbled 37.8% to $25.2 million or 14 cents per diluted share from $40.5 million or 76 cents in the same quarter last year.
The retailer forecasted second-quarter comparable store sales in the range of flat to a low single digit decline and diluted earnings per share between 15 cents and 17 cents.
Citi Trends, Inc (
CTRN), the urban fashion apparel and accessories retailer stated total sales in the first-quarter ending in April advanced 3.2% from a year ago to $200 million.
Comparable store sales in the quarter increased 1%.
Net income in the quarter rose 1.7% to $8.89 million from $8.74 million and diluted earnings per share were flat at 60 cents compared to the same period a year ago.
Jack in the Box Inc (
JACK), the fast food restaurant chain operator said total revenues in the second-quarter ending on April 16 increased 2.3% from a year ago to $369.4 million.
System same-store sales decreased 0.8% and Qdoba same-store sales decreased 3.2%.
Net income in the quarter soared 15.3% to $33.1 million or $1.06 per diluted share from $26.7 million or 84 cents in the same quarter last year.
Thermo Fisher Scientific Inc (
TMO), the analytical instruments maker agreed to acquire the Netherlands-based molecular microscope diagnostic system developer Patheon N.V for $35 per share or about $7.2 billion in cash, including approx $2 billion of net debt.
The transaction is expected to complete by the end of this year.
Target Corporation (
TGT), the discount stores operator reported net sales in the first-quarter ending in April fell 1.1% from a year ago to $16 billion.
Comparable store sales in the quarter decreased 1.3%.
Net income in the quarter soared 7.7% to $681 million or $1.23 per diluted share from $632 million or $1.05 in the same quarter last year.
Urban Outfitters, Inc (
URBN), the lifestyle specialty retailer said total net sales in the first-quarter ending in April were flat from a year ago to $761.2 million.
Comparable store sales in the quarter dropped 3.1%, comparable store sales in Free People segment increased 1.5% but at Urban Outfitters stores comparable sales fell 3.1% and fell 4.4% Anthropologie Group.
Net income in the quarter declined 59.8% to $11.9 million or 10 cents per diluted share from $29.6 million or 25 cents in the same quarter last year.