U.S. Movers: Buckle, Cato, Dollar Tree, HP, L Brands, Ralph Lauren

Mukesh Buch
23 May, 2013
New York City

Buckle declined as profit dropped. Cato comparable sales declined 5%. Dollar Tree sales and net climbed 7%. Hewlett-Packard surged but net plunged 32%. L Brands net jumped 14%. Ralph Lauren net soared 33% and lifted fiscal outlook.

[R]11:40 AM New York – Buckle declined as profit dropped. Cato comparable sales declined 5%. Dollar Tree sales and net climbed 7%. Hewlett-Packard surged but net plunged 32%. L Brands net jumped 14%. Ralph Lauren net soared 33% and lifted fiscal outlook.[/R]

Advance Auto Parts, Inc. ((AAP)) slipped 1.8% or $1.57 to $84.23 after the automotive specialty retailer reported sales in the first quarter ending on April 20 gained 3% to $2.02 billion. Comparable store sales fell to 3.2%.

Net income in the quarter slipped 9% to $121.8 million or $1.65 a diluted share compared to $133.5 million or $1.79.

The company added, operating income in the first quarter declined 9.1% to $204.1 million and gross profit increased 3% to $1 billion.

The Bon-Ton Stores, Inc ((BONT)) gained 1.1% or 22 cents to $19.61 after the department store stated net sales in the first quarter ending on May 4 up 1% to $646.9 million. Comparable store sales increased to 1.2%.

Net loss in the quarter narrowed to $26.6 million or $1.41 a diluted share compared to $40.8 million or $2.23.

For the year, the company expects Adjusted EBITDA in the range of $180 million to $200 million and diluted earnings per diluted share between 40 cents and $1.

The Buckle, Inc ((BKE)) declined 5.1% or $2.95 to $54.19 after the footwear and apparel retailer said sales in the first quarter ending on May 4 added 2.3% to $269.7 million. Comparable store sales rose to 1.2%.

Net income in the quarter edged down to $37.6 million or 78 cents a diluted share compared to $37.8 million or 79 cents.

The Cato Corporation ((CATO)) jumped 2.1% or 54 cents to $25.2 after the specialty retailer stated sales in the first quarter ending on May 4 decreased 2% to $267.2 million. Comparable store sales declined to 5%.

Net income in the quarter down 3% to $30.8 million or $1.05 a diluted share compared to $31.7 million or $1.09.

For the second quarter, Cato expects same store sales in the range of fell 3% to flat and diluted earnings per diluted share in the range of 42 cents to 48 cents.

For the year, the company expects diluted earnings per diluted share between $1.66 and $1.84 versus $2.11 last year.

The Children''s Place Retail Stores, Inc ((PLCE)) climbed 4.9% or $2.53 to $54 after the specialty retailer reported net sales in the first quarter ending on May 4 decreased 3.5% to $423.2 million. Comparable store sales tumbled to 5.5%.

Net income in the quarter jumped 14% to $19.8 million or 83 cents a diluted share compared to $24.7 million or $1.

The company added gross profit dropped 8.6% to $163.3 million and operating income tumbled 23% to $28.5 million.

For the year, the company expects adjusted earnings per diluted share between $3.05 and $3.20.

For the second quarter, the company expects adjusted loss per share in the range of 50 cents to 55 cents.

Dollar Tree, Inc. ((DLTR)) soared 4.7% or $2.31 to $50.68 after the discount retailer said sales in the first quarter ending on May 4 jumped 7.3% to $1.87 million. Comparable store sales grew to 2.1%.

Net income in the quarter climbed 7.3% to $133.5 million or 59 cents a diluted share compared to $116.1 million or 50 cents.

The retailer said operating margin for the quarter climbed 11.6%, a 70 basis point improvement from the 10.9% and gross margin increased 20 basis points, to 35.2%.

The company estimates sales for the second quarter in the range of $1.81 billion to $1.86 billion, based on low-single digit positive comparable store sales and diluted earnings per share between 52 cents to 57 cents.

For the year, sales expect between $7.81 billion and $7.97 billion and diluted earnings per share in the range of $2.61 to $2.77.

Hewlett-Packard Company ((HPQ)) surged 14.3% or $3.04 to $24.24 after the information technology company reported total revenues in the second quarter ending in April declined 10% to $27.6 billion. Net earnings in the quarter plunged 32% to $1.1 billion or 55 cents a diluted share compared to $1.6 billion or 80 cents.

For the year, personal systems revenue dropped 20% to $7.58 billion and printing revenue fell 1% to $6.08 billion and enterprise group revenue declined 10% to $6.82 billion.

Enterprise services revenue tumbled 8% to $6 billion and software revenue down 3% to $641 million and also HP financial services revenue fell 9% to $881 million.

For the third quarter, HP expects non-GAAP diluted earnings per share in the range of 84 cents to 87 cents and GAAP diluted earnings per share between 56 cents and 59 cents.

For the full year, the company expects non-GAAP diluted earnings per share between $3.50 and $3.60 and GAAP diluted earnings per share in the range of $2.50 to $2.60.

L Brands, Inc. ((LTD)) gained 37 cents to $51.84 after the specialty retailer said net sales in the first quarter ending on May 4 advanced 5% to $2.27 billion. Comparable store sales increased to 3%.

Net income in the quarter jumped 14% to $142.5 million or 48 cents a diluted share compared to $124.6 million or 41 cents.

The company added operating income advanced 6% to $311.2 million and gross profit rose 4% to $941.4 million.

The company expects in the second quarter, diluted earnings per share between 50 cents and 55 cents compared to adjusted earnings per share approx 50 cents per share last year.
For the year, L Brand expects diluted earnings per share in the range of $2.95 to $3.15.

Ralph Lauren Corporation ((RL)) slumped 2.5% or $4.73 to $183.33 after the apparel and accessory maker reported net revenue in the fourth quarter rose 1% to $1.60 billion. Net income for the quarter soared 33% to $127 million or $1.37 a diluted share compared to $94.4 million or 99 cents.

Wholesale segment sales in the quarter dropped 4% to $796 million and retail sales jumped 7% to $804 million. Gross profit for the quarter increased 5% to $974 million and operating income surged 33% to $182 million.

The company lifted consolidated net revenues outlook for Fiscal 2014 and expects to increase 4% to 7%.

Workday, Inc. ((WDAY)) jumped 4.2% or $2.77 to $68.52 after the cloud-based application provider stated total revenues in the first quarter ending in April surged 61% to $91.6 million. Net loss in the quarter widened to $33 million or 20 cents a diluted share compared to $20 million or 61 cents.

For the quarter, operating loss widened to $32.6 million.

Workday expects second quarter, revenues in the range of $97 million and $101 million or increased of 55-61%.

For the year, the company anticipated total revenues between $425 million and $440 million or an increase between 55% and 61%.