U.S. Movers: Buckle, Cato, Dollar Tree, Ross Stores, Sears, Wal-Mart

Mukesh Buch
17 May, 2012
New York City

Dollar Tree first quarter net increased 15% to $116 million. Sears first quarter net swung to $189 million profit and plan for a partial spin-off. Ross Stores first quarter net soared 21% to $208.6 million and Wal-Mart increased 10% to $3.74 billion.

[R]11:25 AM New York – Dollar Tree first quarter net increased 15% to $116 million. Sears first quarter net swung to $189 million profit and plan for a partial spin-off. Ross Stores first quarter net soared 21% to $208.6 million and Wal-Mart increased 10% to $3.74 billion.[/R]

Advance Auto Parts, Inc. ((AAP)) plunged 15% or $12.34 to $69.76 after the automotive parts retailer reported first quarter net sales grew 3.1% to $1.96 billion compared to $1.90 billion in the same period last year. Comparable store sales increased 2.1%.

Net income in the quarter surged 22% to $133.5 million or $1.79 per diluted share compared to $109.6 million or $1.35 per share a year ago earlier.

Computer Sciences Corporation ((CSC)) decreased 1% or 28 cents to $26.14 after the information technology provider reported fourth quarter revenue fell 2.1% to $4.11 billion compared to $4.20 billion in the same period last year. Net loss in the quarter swung to $158 million or $1.02 per diluted share compared to net income of $171 million or $1.09 per share a year ago earlier.

Revenue for the fiscal 2012 fell 1% to $15.88 billion from $16.04 billion a year ago. Net loss swung to $4.24 billion or $27.37 per share from net income of $740 million or $4.73 per share in the prior year.

Dollar Tree, Inc. ((DLTR)) slipped 3.5% or $3.64 to $97.66 after the discount retailer reported first quarter net sales increased 11.5% to $1.72 billion compared to $1.55 billion in the same period last year. Comparable store sales increased 5.6%.

Net income in the quarter increased 15% to $116.1 million or $1.0 per diluted share compared to $101.0 million or 82 cents per share a year ago earlier.

The company estimates sales for the second quarter to be in the range of $1.66 billion to $1.70 billion and earnings per share estimated to be in the range of 87 cents to 93 cents. For the year sales are estimated to be in the range of $7.33 billion to $7.46 billion and earnings per share are expected to be $4.74 to $4.94.

Precision Castparts Corp. ((PCP)) gained 2.7% or $4.52 to $170.18 after the fabricated products maker reported fourth quarter sales grew 16% to $1.95 billion compared to $1.67 billion in the same period last year. Net income in the quarter soared 24% to $336.1 million or $2.30 per diluted share compared to $271.0 million or $1.87 per share a year ago.

Revenue for the fiscal 2012 fell 1% to $7.21 billion from $6.22 billion a year ago. Net income surged 21% to $1.22 billion or $8.41 per share from $1.01 billion or $7.04 per share in the prior year.

Ross Stores, Inc. ((ROST)) rose 12 cents to $62.33 after the off-price retailer reported first quarter sales grew 14% to $2.36 billion compared to $2.07 billion in the same period last year. Comparable store sales increased 9%.

Net earnings in the quarter soared 21% to $208.6 million or 93 cents per diluted share compared to $173.0 million or 74 cents per share a year ago period.

The off-price retailer raised earnings outlook for the year to $3.26 to $3.37 from earlier guidance of $3.12 to $3.27. For the second quarter now forecasts same store sales to increase 3% to 4% and earnings per share of 72 cents to 75 cents above from last year''s 64 cents.

Sears Holdings Corporation ((SHLD)) soared 11% or $5.63 to $56.50 after the retailer reported first quarter total revenue fell 2.8% to $9.27 billion compared to $9.54 billion in the same period last year. Comparable store sales at Sears Domestic''s edged down 1%, Kmart''s comparable store sales fell 1.6% and Sears Canada''s comparable store sales declined 6.3%.

Net income in the quarter swung to $189 million or $1.78 per diluted share compared to $170 million or $1.58 per share a year ago earlier.

Sears plan to pursue a partial spin-off of its interest in Sears Canada Inc. Sears Holdings currently owns approximately 95% of the common stocks of Sears Canada and will retain approximately 51% of the common stocks of Sears Canada.

The Cato Corporation ((CATO)) rose 4 cents to $28.16 after the women’s specialty retailer reported first quarter net sales rose 1% to $272.8 million compared to $270.9 million in the same period last year. Same store sales decreased 2%.

Net earnings in the quarter increased 11.6% to $31.7 million or $1.09 per diluted share compared to $30.5 million or $1.04 per share a year ago period.

The retailer said second quarter remain unchanged and reflect same store sales in the range of slipping 2% to flat and earnings per diluted share in the range of 53 cents to 57 cents and full year earnings are estimated to be between $2.16 to $2.26 versus $2.21 in the last year.

The Buckle, Inc. ((BKE)) advanced 5.6% or $2.34 to $43.99 after the apparel retailer reported first quarter net sales increased 10% to $263.8 million compared to $240.1 million in the same period last year. Comparable store sales increased 7.4%.

Net earnings in the quarter increased 11.6% to $37.8 million or 79 cents per diluted share compared to $33.5 million or 71 cents per share a year ago quarter.

The Children''s Place Retail Stores, Inc. ((PLCE)) gained 6.6% or $2.97 to $47.49 after the specialty apparel retailer reported first quarter net sales rose 2% to $438.5 million compared to $430.8 million in the same period last year. Comparable store sales fell 0.7%.

Net earnings in the quarter slipped 19% to $23.6 million or 96 cents per diluted share compared to $29.1 million or $1.10 per share a year ago period.

Teekay Corporation ((TK)) fell 28 cents to $30.32 after the marine transportation service provider reported first quarter revenue grew 2.1% to $495.6 million compared to $488.0 million in the same period last year. Net income in the quarter swung to $1.06 million or 2 cents per diluted share compared to net income of $29.7 million or 41 cents per share a year ago earlier.

Wal-Mart Stores, Inc. ((WMT)) surged 5.1% or $3.05 to $62.24 after the retail store reported first quarter total revenue grew 8.6% to $113.0 billion compared to $104.2 billion in the same period last year. U.S. comparable store sales increased 2.6% and Sam''s Club increased 5.3%.

Net income in the quarter increased 10.1% to $3.74 billion or $1.09 per diluted share compared to $3.40 billion or 97 cents per share a year ago.

In the first quarter the retail’s free cash flow swung to $3.1 billion compared to outflow of $415 million and expects second quarter earnings per share from continuing operations to range between $1.13 and $1.18.