U.S. Movers: Abercrombie & Fitch, Cisco, Staples, Tyco International

Mukesh Buch
14 Nov, 2012
New York City

Abercrombie & Fitch third quarter net climbed 40% and reaffirmed fiscal guidance. Cisco first quarter net climbed 18% to $2.09 billion and forecasted revenue growth. Staples and Tyco International quarterly net swung to loss as sales dropped.

[R]9:55 AM New York – Abercrombie & Fitch third quarter net climbed 40% and reaffirmed fiscal guidance. Cisco first quarter net climbed 18% to $2.09 billion and forecasted revenue growth. Staples and Tyco International quarterly net swung to loss as sales dropped.[/R]

Abercrombie & Fitch Co. ((ANF)) surged 30.1% or $9.41 to $40.59 after the specialty retailer said sales in the third quarter ending on October 27 surged 9% to $1.17 billion from $1.08 billion in the same period of last year. Comparable store sales for the quarter slipped 3% and total U.S. stores jumped 4.3%.

Net income in the quarter climbed 40% to $71.5 million or 87 cents a diluted share compared to $50.9 million or 57 cents a share a year ago earlier.

The retailer added total U.S. direct-to-consumer sales were nearly flat to $818.6 million and international sales soared 37% to $351.1 million and total company’s direct-to-consumer sales climbed 20% to $158.3 million.

For the fiscal second quarter, the company expects diluted earnings per share of about $2.85 to $3.00.

Cisco Systems, Inc. ((CSCO)) soared 7.6% or $1.28 to $18.13 after the networking products maker reported revenue in the first quarter ending in September jumped 6% to $11.88 billion from $11.26 billion in the same period of last year. Net income in the quarter climbed 18% to $2.09 billion or 39 cents a diluted share compared to $1.78 billion or 33 cents a share a year ago.

For the fiscal second quarter, the company forecasted revenue growth of 3.5% to 5.5% implies between $11.9 and $12.2 billion.

Staples, Inc. ((SPLS)) climbed 4.7% or 53 cents to $11.76 after the office products supplier said sales in the third quarter ending on October 27 slid 2% to $6.35 billion from $6.48 billion in the same period of last year. Net loss in the quarter swung to $596.3 million or 89 cents a diluted share compared to net income of $326.4 million or 47 cents a share a year ago period.

The company added total operating in the quarter expenses increased 64% to $2.11 billion and sales in international operations dropped 12% to $1.1 billion and North American retail sales were nearly flat to $2.6 billion.

Staples expect full year sales to be flat compared to the year-ago period.

Tyco International Ltd ((TYC)) slipped 19 cents to $27.16 after the Switzerland based conglomerate reported revenue in the fourth quarter ending on September 28 dropped 3% to $2.73 billion from $2.80 billion in the same period of last year. Net loss in the quarter swung to $419 million or 91 cents a diluted share compared to net income of $397 million or 84 cents a share a year ago earlier.

The company said revenue from North America systems installation segment slipped 5% to $1.04 billion and revenue from rest of world systems installation declined 7% to $1.13 billion and global products revenue climbed 15% to $558 million.