U.S. Movers: Campbell Soup, Fresh Market, Genesco, Guess, K12, Pall

Mukesh Buch
29 Aug, 2013
New York City

Campbell Soup net swung to a loss on lower than expected sales increase. Fresh Market net climbed 17%. Genesco net jumped 14% and Guess net gained 7%. K12 profit soared 28% as revenue surged 19%. Pall Corp sales and net edged up.

[R]11:15 AM New York – Campbell Soup net swung to a loss on lower than expected sales increase. Fresh Market net climbed 17%. Genesco net jumped 14% and Guess net gained 7%. K12 profit soared 28% as revenue surged 19%. Pall Corp sales and net edged up.[/R]

Campbell Soup Company ((CPB)) slumped 2.9% or $1.29 to $43.37 after the food products maker reported net sales in the fourth-quarter ending on July 28 climbed 13% to $1.72 billion. Net in the quarter swung to a loss $158 million or 50 cents a diluted share compared to net profit of $127 million or 40 cents.

The Fresh Market, Inc ((TFM)) plunged 8.5% or $4.58 to $49.70 after the specialty retailer said net sales in the second-quarter ending on July 28 climbed 13.3% to $354.8 million. Comparable store sales in the quarter jumped 3.4%.

Net income in the quarter climbed 17.3% to $15.6 million or 32 cents a diluted share compared to $13.3 million or 28 cents.

The retailer said gross profit in the quarter soared 13.6% to $121.3 million.

Genesco Inc. ((GCO)) plummeted 10.2% or $7.11 to $62.44 after the retailer stated net sales in the second-quarter ending on August 3 advanced 6% to $574.7 million. Comparable store sales in the quarter decreased 2%.

Net income in the quarter jumped 14% to $12 million or 51 cents a diluted share compared to $10.5 million or 43 cents.

Guess?, Inc. ((GES)) surged 12.2% or $3.32 to $30.63 after the retailer net sales in the second-quarter ending on August 3 edged up 0.6% to $639 million. Comparable store sales in the quarter slipped 2%.

Net income in the quarter gained 7% to $39.9 million or 47 cents a diluted share compared to $42.9 million or 49 cents.

For the year, the company expects net revenues in the range of $2.56 billion to $2.59 billion and diluted earnings per share between $1.70 and $1.84.

K12 Inc. ((LRN)) soared 16.8% or $5.37 to $37.33 after the education service provider said revenue in the fourth-quarter ending in June surged 19% to $203.1 million. Net income in the quarter soared 28% to $2.3 million or 6 cents a diluted share compared to $1.8 million or 5 cents.

The company added operating income in the quarter plunged 30% to $1.4 million.

Pall Corporation ((PLL)) rose 7 cents to $69.27 after the purification company reported sales in the fourth-quarter ending in June edged down 0.7% to $716.8 million. Net earnings in the quarter rose 0.6% to $85.6 million or 75 cents a diluted share compared to $86.2 million or 73 cents.

The company added gross profit slid 0.8% to $368.9 million and operating profit declined 3% to $134.5 million.

For the year, Pall expects pro forma diluted earnings per share in the range of $3.30 to $3.50.

Royal Bank of Canada ((RY)) gained 55 cents to $62.08 after the Canada based financial services provider stated net income in the third-quarter ending in July rose 3% to $2.30 billion or $1.52 a diluted share compared to $2.24 billion or $1.47.