Fresh Market, GameStop Climb; Aeropostale, Hibbett Sports Decline

Mukesh Buch
22 May, 2014
New York City

Aeropostale net loss widened as sales declined. Best Buy net swung to profit but sales dropped. Foot Locker net climbed 17%. Fresh Market net plunged 24%. Gap net tumbled 22%. GameStop profit surged 24%. Hibbett Sports net jumped 8%.

[R]11:45 AM New York – Aeropostale net loss widened as sales declined. Best Buy net swung to profit but sales dropped. Foot Locker net climbed 17%. Fresh Market net plunged 24%. Gap net tumbled 22%. GameStop profit surged 24%. Hibbett Sports net jumped 8%.[/R]

Aeropostale Inc ((ARO)) plunged 22.1% or $1 to $3.52 after the specialty retailer said net sales in the first-quarter ending on May 4 dropped 12% to $395.9 million. Comparable-store sales in the quarter declined 13%.

Net loss in the quarter widened to $76.8 million or 98 cents a diluted share compared to $12.2 million or 16 cents.

Best Buy Co Inc ((BBY)) rose 10 cents to $26.32 after the consumer electronics retailer in the first-quarter ending on May 3 fell 3.4% to $9.03 billion. Comparable-store sales in the quarter dropped 5.8%.

Net in the quarter swung to profit $461 million or $1.31 a diluted share compared to a loss of $81 million or 24 cents.

Foot Locker, Inc ((FL)) gained 42 to $48.59 after the shoes and apparel retailer reported revenue in the first-quarter ending on May 3 jumped 14% to $1.87 billion. Comparable-store sales in the quarter soared 7.6%.

Net income in the quarter climbed 17.4% to $162 million or $1.10 a diluted share compared to $138 million or 90 cents.

The Fresh Market Inc ((TFM)) jumped 4.8% or $1.37 to $30.01 after the perishable product retailer reported net sales in the first-quarter ending on April 27 climbed 17.6% to $431 million. Comparable-store sales in the quarter increased 2.5%.

Net income in the quarter plunged 24.5% to $16.6 million or 34 cents a diluted share compared to $22.1 million or 46 cents.

The Gap Inc ((GPS)) slipped 20 cents to $40.66 after the specialty apparel retailer said net sales in the first-quarter ending on May 3 rose 1% to $3.77 billion. Comparable-store sales in the quarter fell 1%.

Net income in the quarter tumbled 21.9% to $260 million or 58 cents a diluted share compared to $333 million or 71 cents.

GameStop Corp ((GME)) climbed 4.9% or $1.81 to $38.69 after the multi-channel video game retailer stated total sales in the first-quarter ending on May 3 advanced 7% to $1.87 billion. Comparable-store sales in the quarter climbed 5.8%.

Net income in the quarter surged 24.5% to $68 million or 59 cents a diluted share compared to $54.6 million or 46 cents.

Hibbett Sports, Inc ((HIBB)) declined 6.1% or $3.46 to $53.65 after the sporting goods retailer said net sales in the first-quarter ending on May 3 soared 9.1% to $261.9 million. Comparable-store sales in the quarter jumped 4.1%.

Net income in the quarter jumped 8.4% to $28.4 million or $1.09 a diluted share compared to $26.2 million or $1.