U.S. Movers: AutoZone, Ascena Retail, Cracker Barrel, General Mills

Mukesh Buch
19 Sep, 2012
New York City

AutoZone fourth quarter net climbed 7% on sales increase of 5% and Ascena Retail Group

[R]10:45 AM New York – AutoZone fourth quarter net climbed 7% on sales increase of 5% and Ascena Retail Group’s profit in second quarter tumbled.Cracker Barrel net surged doubled and revised fiscal outlook. General Mills first quarter net jumped 35% to $548.9 million.[/R]

AutoZone, Inc. ((AZO)) gained 1.4% or $5.23 to $363.07 after the automotive parts retailer reported net sales in the fourth quarter ending on August 25 grew 5% to $2.76 billion from $2.64 billion in the same period of last year. Domestic same store sales in the quarter increased 2.1%.

Net income in the quarter climbed 7% to $323.7 million or $8.46 per diluted share compared to $301.5 million or $7.18 per share a year ago earlier.

For the quarter, gross profit, as a percentage of sales increased 51.8% and during the quarter the company had opened 72 new stores, out of 24 in Mexico and in total of 5,006.

Ascena Retail Group, Inc. ((ASNA)) declined 3.4% or 73 cents to $20.27 after the apparel retailer reported revenues in the fourth quarter ending on July 28 advanced 8% to $939.7 million from $725.8 million in the same period of last year. Comparable store sales in the quarter increased 3%.

Net income in the quarter tumbled 94% to $1.6 million or 1 cents per diluted share compared to $28.2 million or 18 cents per share a year ago.

Gross margin for the quarter soared 55.1% to $501.6 million compared to same period of last year.

The retailer expects adjusted earnings per diluted share from continuing operations for the fiscal 2013 is in the range of $1.45 to $1.55.

Cracker Barrel Old Country Store, Inc ((CBRL)) climbed 8.1% or $5.20 to $68.82 after the restaurant operator reported revenues in the fourth quarter ending on August 3 climbed 14% to $700 million from $612.9 million in the same period of last year.

Comparable store traffic in the quarter grew 1.4% and comparable store restaurant sales increased 3.8%; and comparable store retail sales increased 3.1%.

Net income in the quarter surged 98% to $34.7 million or $1.47 per diluted share compared to $17.5 million or 75 cents per share a year ago period.

For fiscal 2013, the company expected total revenue in the range of $2.6 billion to $2.65 billion and earnings per diluted share between $4.50 and $4.70 and comparable store restaurant and retail sales in a range of 2% to 3%.

For the first quarter, the company expects earnings per diluted share to report between $1 and $1.05.

General Mills, Inc. ((GIS)) increased 1.6% or 63 cents to $39.94 after the food products maker reported revenues in the first quarter ending on August 26 increased 5% to $4.05 billion from $3.85 billion in the same period of last year. Net income in the quarter jumped 35% to $548.9 million or 82 cents per diluted share compared to $405.6 million or 61 cents per share a year ago.

In the U.S. retail segment net sales fell 1% to $2.49 billion and in the international segment net sales climbed 27% to $1.09 billion and for the bakeries and food service segment slid 2% to $472 million.

The company reaffirmed full year earnings per share of approximately $2.65.