3:10 PM New York – The Buckle reported better than expected profit. Cisco profit jumped but failed to meet expectations. Children’s Place lifted outlook on net surged. Ralph Lauren comparable sales continues to decline for more than two years. Wal-Mart beat street sustains online sales growth.
Tollbooth Index increased 44.18 or 0.4% to 11,947.16.
The Buckle, Inc
) jumped 3.9% or 65 cents to $17.45 after the casual apparel, footwear and accessories retailer said net sale in the first-quarter ending in April dropped 12.8% from a year ago to $212.3 million.
Comparable store sales in the quarter plunged 12.7%.
Net income in the quarter tumbled 23.4% to $16.3 million or 34 cents per diluted share from $23.1 million or 48 cents in the same quarter last year.
Cisco Systems, Inc
) plunged 7.5% or $2.55 to $31.27 after the network services provider reported revenues in the third-quarter ending in April fell 0.8% from a year ago to $11.9 billion.
Net income in the quarter jumped 8.7% to $2.5 billion or 50 cents per diluted share from $2.3 billion or 46 cents in the same quarter last year.
Cisco forecasted fourth quarter revenues to decline between 6% and 4% and diluted earnings per share in the range of 46 cents to 51 cents which is lower than non-GAAP earnings per share by 11 cents to 14 cents in the fourth quarter of fiscal 2017.
The Children’s Place Inc
) 1.8% or $2.03 to $113.62 after the children''''s specialty apparel retailer said net sale in the first-quarter ending in April jumped 4.1% from a year ago to $436.7 million.
Comparable store sales in the quarter soared 6.1%.
Net income in the quarter surged 39.2% to $36.2 million or $1.97 per diluted share from $26 million or $1.33 in the same quarter last year.
The children''''s specialty retailer lifted fiscal 2017 diluted earnings per share forecast in the range of $7.10 to $7.20 from earlier estimated guidance of $6.50 to $6.65.
Hibbett Sports, Inc
) rose 20 cents to $23.25 after the sports and outdoor specialty retailer stated net sale in the first-quarter ending in April slid 2.3% from a year ago to $275.7 million.
Comparable store sales in the quarter declined 4.9%.
Net income in the quarter plummeted 25.1% to $20.9 million or 97 cents per diluted share from $27.9 million or $1.22 in the same quarter last year.
The athletic specialty stores operator lowered fiscal 2018 diluted earnings per share forecast between $2.35 and $2.55 from the earlier estimated range of $2.65 to $2.85 and comparable store sales between negative 1% to positive 1% compared to previous guidance to increase in the low single-digit range.
Ralph Lauren Corp
) increased 31 cents to $73.06 after the apparel, accessories and home furnishings retailer stated net revenues in the fourth-quarter ending on April 1 plunged 15.8% from a year ago to $1.6 billion.
Comparable store sales in the quarter declined 11%.
Net in the quarter swung to a loss of $204 million or $2.48 per diluted share from profit of $41.3 million or 49 cents in the same quarter last year.
Wal-Mart Stores Inc
) advanced 2.7% or $2.06 to $77.18 after the supermarkets and convenience stores operator reported total revenues in the first-quarter ending in March increased 1.4% from a year ago to $117.5 billion.