U.S. Movers: ConAgra, Dollar General, FedEx, GameStop, Lululemon

Mukesh Buch
22 Mar, 2012
New York City

ConAgra third quarter net soared 26% to $271.6 million and reaffirmed fiscal 2012 expectations. Discover Financial first quarter net soared 36% to $624 million as credit rose 9%. Dollar General fourth quarter net increased 7% to $292.5 million. FedEx third quarter net more than doubled to $521 mn.

[R]10:55 AM New York – ConAgra third quarter net soared 26% to $271.6 million and reaffirmed fiscal 2012 expectations. Discover Financial first quarter net soared 36% to $624 million as credit rose 9%. Dollar General fourth quarter net increased 7% to $292.5 million. FedEx third quarter net more than doubled to $521 million.[/R]

ConAgra Foods, Inc. ((CAG)) fell 12 cents to $26.24 after the food processor reported third quarter net sales increased 7.4% to $3.37 billion from $3.14 billion in the same quarter last year. Net income in the quarter soared 26.4% to $271.6 million or 65 cents per diluted share compared to $214.8 million or 50 cents per share in the year ago period.

Clarcor Inc. ((CLC)) decreased 5.9% or $2.98 to $47.51 after the automotive filter maker reported first quarter net sales increased 5% to $257.3 million from $245.7 million in the same quarter last year. Net earnings in the quarter increased 7% to $23.5 million or 46 cents per diluted share compared to $21.9 million or 43 cents per share in the year ago earlier.

Operating profit at filtration segments soared 20% while in packaging segment net sales decreased 29% and operating profit declined 89% from a year ago period.

Dollar General Corporation ((DG)) gained 3.4% or $1.54 to $46.29 after the discount retailer reported fourth quarter net sales increased 20.1% to $4.19 billion from $3.49 billion in the same quarter last year. Same store sales increased 6.5%. Net income in the quarter increased 7% to $292.5 million or 85 cents per diluted share compared to $222.5 million or 64 cents per share in the year ago earlier.

For the year 2011 net sales increased 13.6% to $14.81 billion from $13.04 billion in last year. Same store sales increased 20%. Net income for the year grew 5.2% to $766.7 million or $2.22 per diluted share compared to $627.9 million or $1.82 per share in the prior year.

Discover Financial Services ((DFS)) increased 2.5% or 79 cents to $32.43 after the credit card lender reported first quarter interest income rose to $1.65 billion from $1.55 billion in the same quarter last year. Net income in the quarter soared 36% to $624 million or $1.18 per diluted share compared to $459 million or 84 cents per share in the year ago.

FedEx Corporation ((FDX)) dropped 3.9% or $3.77 to $92.04 after the air courier reported third quarter total revenue increased 9% to $10.56 billion from $9.66 billion in the same quarter last year. Net income in the quarter surged 126% to $521 million or $1.65 per diluted share compared to $231 million or 73 cents per share in the year ago.

FedEx expects fourth quarter earnings to be between $1.75 to $2.00 per diluted share and adjusted earnings to be $6.35 to $6.60 per share for fiscal 2012.

G-III Apparel Group, Ltd. ((GIII)) increased 6.6% or $1.76 to $28.37 after the apparel and accessories maker reported fourth quarter net sales rose 9% to $294.3 million from $270.2 million in the same quarter last year. Net income in the quarter declined to $5.02 million or 25 cents per diluted share compared to $12.33 million or 62 cents per share in the year ago quarter.

For the year 2011 net sales increased 15.8% to $1.23 billion from $1.06 billion in last year. Net income for the year fell to $49.6 million or $2.46 per diluted share compared to $56.7 million or $2.88 per share in the prior year.

GameStop Corp. ((GME)) rose 20 cents to $24.88 after the video games retailer reported fourth quarter sales fell 3% to $3.58 billion from $3.69 billion in the same quarter last year. Comparable store sales decreased 3.6%. Net earnings in the quarter declined to $174.7 million or $1.27 per diluted share compared to $237.8 million or $1.56 per share in the year ago period.

For the year 2011 sales grew to $9.55 billion from $9.47 billion in last year. Comparable store sales fell 2.1%. Net earnings for the year tumbled to $339.9 million or $2.41 per diluted share compared to $408.0 million or $2.65 per share in the prior year.

Herman Miller, Inc. ((MLHR)) rose 45 cents to $22.35 after the furniture designer reported third quarter net sales fell 3.6% to $399.8 million from $414.8 million in the same quarter last year. Net earnings in the quarter declined 25% to $14.9 million or 26 cents per diluted share compared to $19.8 million or 29 cents per share in the year ago quarter.

IHS Ins. ((IHS)), the technology company reported first quarter revenue increased 17% to $342.7 million from $293.1 million in the same quarter last year. Net income in the quarter slumped to $23.5 million or 35 cents per diluted share compared to $31.9 million or 49 cents per share in the year ago.

Lululemon Athletica Inc. ((LULU)) fell 31 cents to $73.76 after the athletic apparel retailer reported fourth quarter sales soared 51.4% to $371.5 million from $245.4 million in the same quarter last year. Comparable store sales increased 26%. Net income in the quarter increased to $73.5 million or 51 cents per diluted share compared to $54.8 million or 38 cents per share in the year ago earlier.

For the year 2011 sales surged 40.6% to $1.0 billion from $711.7 million in last year. Comparable store sales increased 20%. Net income for the year soared to $184.1 million or $1.27 per diluted share compared to $121.8 million or 85 cents per share in the prior year.

Signet Jewelers Limited ((SIG)) decreased 2.4% or $1.25 to $50.01 after the Bermuda based jeweler reported fourth quarter sales grew 6.6% to $1.35 billion from $1.27 billion in the same quarter last year. Same store sales increased 6.9%. Net income in the quarter surged 48.6% to $156.6 million or $1.79 per diluted share compared to $105.4 million or $1.21 per share in the year ago earlier.

For the year 2011 sales increased 9.1% to $3.75 billion from $3.44 billion in last year. Same store sales increased 9%. Net income for the year soared 62% to $324.4 million or $3.73 per diluted share compared to $200.4 million or $2.32 per share in the prior year.

UTi Worldwide Inc. ((UTIW)) increased 5.1% or 83 cents to $16.83 after the logistic company reported fourth quarter revenues nearly flat to $1.15 billion compared to same quarter of last year. Net income in the quarter decreased to $12.4 million or 12 cents per diluted share compared to $14.5 million or 14 cents per share in the year ago period. Revenue increased due to contract logistics and distribution activity.

For the year 2011 revenues increased to $4.91 billion from $4.55 billion in last year. Net income for the year increased to $72.5 million or 70 cents per diluted share compared to $69.9 million or 68 cents per share in the prior year.