Movers: Costco, Designer Brands, Dollar General, Five Below, PVH, Salesforce, Snowflake, Victoria's Secret

  • Scott Peters
  • U.S.A. New York City
  • Dec 1, 2022
  • Dollar General earnings fell on higher costs and unanticipated surge in temporary storage costs. PVH Corp advanced on sales outlook. Snowflake fourth quarter sales guidance disappointed. Five Below earnings lagged sales growth.

    Costco Wholesale Corporation declined 6.2% to $505.83 after the company reported weak November sales and e-commerce sales fell. 

    Costco Wholesale said November sales increased 5.7% to $19.1 billion but e-commerce sales dropped 10.1% from a year ago.

    Designer Brands plunged 22.4% to $11.87 after the operator of Designer Shoe Warehouse retail chain missed quarterly results expectations and the company also lowered its full-year outlook. 

    Revenue in the third quarter increased 1.4% to $865.0 million and comparable sales increased 3.0%. 

    Net income in the quarter plunged to $45.2 million from $80.2 million and diluted earnings per share was 65 cents from $1.04 a year ago.. 

    The shoe retailer lowered its diluted earnings per share range to between $1.75 and $1.80 from the previous range between $2.05 and $2.15.  

    Dollar General Corp fell 8.5% to $234.09 after the discount retailer reported weaker-than-expected earnings on unanticipated higher costs driven by higher storage costs and supply chain inefficiencies.

    Sales in the fiscal third quarter increased 11.1% to $9.5 billion and same store sales increased 6.8%.

    Net income in the quarter increased to $526.2 million from $487 million and diluted earnings per share rose to $2.33 from $2.08 a year ago.

    The retailer guided fourth quarter earnings per share between $3.15 and $3.30, an increase between 7% and 8% from a year ago compared to previous growth between 12% and 14%. 

    Five Below soared 16.6% to $187.48 after the deep discount retailer reported stronger-than-anticipated quarterly results.

    Revenue in the fiscal third quarter increased 6.2% to $645 million but net income plunged to $16.2 million from $24.2 million or 29 cents from 43 cents a year ago.

    PVH Corp soared 9.5% to $73.61 after the designer apparel maker reported earnings ahead of expectations and said full-year revenues are likely to be near its top estimated range. 

    Revenue in the third quarter declined 2% to $2.28 billion and gross margin declined to 55.9% from 57.7% a year ago.

    In the fiscal third quarter the company swung to a loss of $186.7 million from a profit of $279.7 million or a loss of $2.88 per share from a profit of $3.89 a year ago. 

    The apparel maker said full-year revenues are expected to drop 3% and "in-line with the top end of previous guidance range."

    Full-year earnings per share is expected to drop to $1.37 from $7.64 a year ago. 

    Salesforce Inc declined 9.5% to $145.11 after the company said co-CEO Bret Taylor has decided to step down from the company without giving any reasons. 

    This is the second time in four years that the co-CEO has resigned from the company. 

    The software developer said fiscal third quarter revenue increased 14% to $7.8 billion and earnings declined to $210 million from $468 million or 21 cents from 48 cents a year ago.

    Snowflake Inc rose 5.5% to $150.79 after the cloud computing company reported earnings ahead of expectations but outlook disappointed some investors.

    Stock rebounded from the 5% decline in after-hours of trading after Morgan Stanley reiterated the company's long term potential.

    Revenue in fiscal third quarter ending in October increased 66.7% to $557 million a year ago.

    Net loss in the quarter increased to $200.9 million from $154.8 million and diluted loss per share rose to 63 cents from 51 cents a year ago.

    The company guided fourth quarter revenue between $535 million and $540 million, an increase between 49% and 50% from a year ago.

    Victoria's Secret & Company fell 6.7% to $42.91 after the company reported weaker-than-anticipated quarterly results. 

    Revenue in the fiscal third quarter fell 8.5% to $1.32 billion and earnings plunged to $24.4 million from $75.2 million or 29 cents from 81 cents a year ago.

Annual Returns

Company Ticker 2024 2023 2022
Costco Wholesale Corporation COST 24% 35% -14%
Dollar Tree Inc DLTR -54% -0% 2%
Salesforce com Inc CRM -1% 98% -48%
PVH Corp PVH -17% 67% -31%
Designer Brands Inc. DBI -8% -12% -30%
Five Below Inc FIVE -66% 20% -13%
Victoria`s Secret & Co. VSCO -33% -39% -38%