Abercrombie & Fitch, Genesco, Guess, Williams-Sonoma Drop

Mukesh Buch
28 Aug, 2014
New York City

Abercrombie & Fitch net rose 1%. Dollar General net grew 2%. Guess net tumbled 45%. Pall Corp net surged 40% on 12% increase of revenue and lifted its fiscal outlook. Williams-Sonoma net jumped 5% but offered cautious outlook.

[R]12:40 PM New York – Abercrombie & Fitch net rose 1%. Dollar General net grew 2%. Guess net tumbled 45%. Pall Corp net surged 40% on 12% increase of revenue and lifted its fiscal outlook. Williams-Sonoma net jumped 5% but offered cautious outlook.[/R]

Tollbooth Index slipped 0.3% or 30.24 to 9,506.47.

Earnings Review

Abercrombie & Fitch Co ((ANF)) declined 5.6% or $2.47 to $41.53 after the specialty retailer said net sales the second-quarter ending on August 2 dropped 5.8% to $890 million from a year ago period. Comparable store sales in the quarter plummeted 7%.

Net income in the quarter rose 13.1% to $12.9 million or 17 cents a diluted share compared to $11.4 million or 14 cents from a same quarter last year.

The retailer estimated diluted earnings per share for the year in the range of $2.15 to $2.35.

Dollar General Corp ((DG)) gained 1.6% or $1.01 to $64.71 after the discount retailer reported net sales the second-quarter ending on August 1 jumped 7.5% to $4.72 billion from a year ago period. Same store sales in the quarter increased 2.1%.

Net income in the quarter rose 2.4% to $251 million or 83 cents a diluted share compared to $245 million or 75 cents from a same quarter last year.

The deep discount retailer forecasted annual sales to increase 8% to 9% and same-store sales to increase 3% to 3.5%. Adjusted diluted earnings per share for the fiscal year are expected between $3.45 and $3.55.

Genesco Inc ((GCO)) plunged 6.3% or $5.63 to $83.04 after the apparel and accessories retailer stated net sales in the second-quarter ending on August 2 climbed 7.1% to $615 million from a year ago period. Comparable store sales in the quarter rose 2%.

Net earnings in the quarter plunged 43.4% to $4.7 million or 20 cents a diluted share compared to $8.3 million or 35 cents from a same quarter last year.

The company forecasted adjusted diluted earnings per share for the Fiscal 2015 between $5.10 and $5.20.

Guess, Inc ((GES)) dropped 8.8% or $2.26 to $23.38 after the apparel and accessories retailer said total revenue the second-quarter ending on August 2 slumped 4.8% to $608.6 million from a year ago period. Comparable store sales in the quarter declined 5.4%.

Net income in the quarter tumbled 45.1% to $21.9 million or 26 cents a diluted share compared to $39.9 million or 47 cents from a same quarter last year.

The company added net revenues from North America slipped 4.1% to $244 million and net revenue from the wholesale segment declined 7.5% to $38.3 million.

Net revenues from the European segment fell 6% to $235.3 million. Net revenue from the Asia segment slid 2.4% to $64.3 million.

Pall Corporation ((PLL)) climbed 3.3% or $2.68 to $83.40 after the filtration products maker reported sales in the fourth-quarter ending in July soared 12% to $800 million from a year ago period.

Net earnings in the quarter surged 40.3% to $120.1 million or $1.08 a diluted share compared to $85.6 million or 76 cents from a same quarter last year.

Pall lifted its total revenue guidance for fiscal 2015 in the range of mid-to-high single-digits and pro-forma earnings per share between $3.75 and $3.95 represents 9% to 15% increase from fiscal 2014.

Williams-Sonoma, Inc ((WSM)) plummeted 11% or $8.25 to $66.64 after the home furnishing company said net revenue in the second-quarter ending on August 3 increased 5.8% to $1.04 billion from a year ago period. Comparable brand revenue in the quarter climbed 5.7%.

Net earnings in the quarter jumped 4.9% to $50.7 million or 53 cents a diluted share compared to $48.9 million or 49 cents from a same quarter last year.

The stock sold off after the housewares retailer estimated third quarter sales between $1.1 billion and $1.3 billion and earnings per share between 58 cents and 53 cents less than analysts’ estimate of at least 65 cents a share.