U.S. Movers 2: Dollar Tree, Perrigo, Ross Stores, Cato, Sears, Wal-Mart

Sarla Buch
16 Aug, 2012
New York City

Dollar Tree second quarter net climbed 26% and Perrigo fourth quarter net jumped 27%. Ross Stores second quarter net soared 23% and Sears Holdings net loss narrowed. Wal-Mart second quarter climbed 5.7% to $4.02 billion.

[R]11:05 AM New York – Dollar Tree second quarter net climbed 26% and Perrigo fourth quarter net jumped 27%. Ross Stores second quarter net soared 23% and Sears Holdings net loss narrowed. Wal-Mart second quarter climbed 5.7% to $4.02 billion.[/R]

Dollar Tree, Inc. ((DLTR)) slumped 5% or $2.53 to $47.46 after the deep discount store operator reported net sales in the second quarter ending on July 28 increased 10.5% to $1.70 billion compared to $1.54 billion in the same period of last year. Comparable store sales in the second quarter increased 4.5%.

Net income in the quarter climbed 25.6% to $119.2 million or 51 cents per diluted share compared to $94.9 million or 39 cents per share a year ago earlier.

The retailer estimates sales for the third quarter in the range of $1.71 billion to $1.75 billion based on low to mid-single digit positive comparable store sales and earnings per share in the range of 47 cents to 51 cents.

For the full year, sales are estimated between $7.36 billion and $7.45 billion based on a range of low to mid- single digit positive comparable store sales and earnings per share expected to be $2.45 to $2.54.

Perrigo Company ((PRGO)) declined 6.3% or $7.40 to $109.20 after the healthcare company reported net sales in the fourth quarter of ending in June soared 18% to $831.8 million compared to $704.6 million in the same period of last year. Net income in the quarter jumped 27% to $107 million or $1.14 per diluted share compared to $85.6 million or 91 cents per share a year ago.

The company expects fiscal 2013 adjusted earnings between $5.30 and $5.50 per share as compared to $4.99 in fiscal 2012, an increase between 6% and 10% from a year ago.

Ross Stores, Inc. ((ROST)) slipped 2.1% or $1.47 to $67.03 after the off-price retailer reported sales in the second quarter ending on July 28 grew 12% to $2.34 billion compared to $2.09 billion in the same period of last year. Comparable store sales in the second quarter increased 7%.

Net earnings in the quarter soared 23% to $182 million or 81 cents per diluted share compared to $148.3 million or 64 cents per share a year ago period.

The company forecast same store sales in the third quarter to increase 3% to 4% and earnings per share in the range of 63 cents to 66 cents and for the full year earnings per share in the range of $3.36 to $3.44, a growth of 14% to 17% over the prior year. Same store sales are estimated to increase between 1% and 2% in the fourth quarter.

Sears Holdings Corporation ((SHLD)) climbed 6% or $3.40 to $60 after the specialty retailer reported total revenue in the second quarter of ending on July 28 slipped 16.1% to $9.47 billion compared to $10.14 billion in the same period of last year. Sears domestic comparable store sales in the second quarter fell 2.9% and Kmart''s comparable store sales slipped 4.7% and Sears Canada comparable store sales declined 7.1%.

Net loss in the quarter narrowed to $132 million or $1.25 per diluted share compared to $146 million or $1.37 per share a year ago.

The retailer expect to closed Sears Hometown and Outlet Store transaction in the third quarter and complete the Sears Canada partial spin-off in the second half of this year.

Sears said gross margin for the quarter fell $70 million to $2.5 billion primarily driven by declines in its Canada business.

Stage Stores, Inc. ((SSI)) increased 1.5% or 31 cents to $20.43 after the off-price retailer reported sales in the second quarter ending on July 28 grew 12% to $381.6 million compared to $352.8 million in the same period of last year. Comparable store sales in the second quarter increased 7%.

Net earnings in the quarter grew 3.1% to $11.7 million or 37 cents per diluted share compared to $10 million or 29 cents per share a year ago earlier.

The retailer lifted its comparable store sales and earnings per share guidance for the full year between $1.15 and $1.25 versus $1.08 to $1.20 from previous guidance. The company expects comparable store sales for the year in a range of 2.5% to 3.5%. Sales are expected to be in the range of $1.61 billion to $1.62 billion.

The Cato Corporation ((CATO)) decreased 3% or 91 cents to $29.10 after the fashion specialty retailer reported total revenues in the second quarter ending on July 28 fell 1% to $234 million compared to $236.8 million in the same period of last year. Same store sales in the quarter declined 4%.

Net income in the quarter slid 4% to $17.3 million or 59 cents per diluted share compared to $18.1 million or 61 cents per share a year ago period.

The retailer expects earnings per share for second half will be within the original guidance of 50 cents to 59 cents. Comparable store sales for in both third and fourth quarters are estimated to be down 2% to flat.

The Buckle, Inc. ((BKE)) gained 2.1% or 87 cents to $40.92 after the apparel, footwear and accessory retailer reported total revenues in the second quarter of ending on July 28 rose 1.5% to $215.5 million compared to $212.4 million in the same period of last year. Same store sales in the quarter fell 0.8%.

Net income in the quarter edged down to $23.2 million or 49 cents per diluted share compared to $23.6 million or 50 cents per share a year ago earlier.

Wal-Mart Stores, Inc. ((WMT)) declined 3.3% or $2.47 to $71.98 after the retail stores operator reported total revenues in the second quarter ending in July increased 4.5% to $114.3 billion compared to $109.4 billion in the same period of last year.

U.S. comparable store sales rose 2.2% and delivered its fourth consecutive quarter of positive comparable sales. Sam’s club comparable sales without fuel increased 4.2% and international net sales grew 6.4%.

Net income in the quarter climbed 5.7% to $4.02 billion or $1.18 per diluted share compared to $3.80 billion or $1.09 per share a year ago.

Wal-Mart raised and narrowed full year earnings per share guidance to a range of $4.83 to $4.93 from previous range of $4.72 to $4.92. Sam’s club expects comparable sales without fuel for the third quarter to increase between 3% and 5%.