Ross Stores and Foot Locker Sales Rise, Gap Sales Flat

Mukesh Buch
21 Nov, 2014
New York City

Ann net plunged 27%. Autodesk net tumbled 81% but revenues soared 11%. Blackstone agreed to acquire Japan-based residential assets from GE for $1.6 billion. Foot Locker profit surged 15%. Gap net jumped 4%. Intuit net loss widened while revenues climbed 8%.

[R]11:55 AM New York – Ann net plunged 27%. Autodesk net tumbled 81% but revenues soared 11%. Blackstone agreed to acquire Japan-based residential assets from GE for $1.6 billion. Foot Locker profit surged 15%. Gap net jumped 4%. Intuit net loss widened while revenues climbed 8%.[/R]

Tollbooth Index gained 0.7% or 66.13 to 9,958.52.

Earnings Review

Ann Inc ((ANN)) fell 4 cents to $38.30 after the women’s apparel retailer said total net sales in the third-quarter ending on November 1 fell 1.6% to $646.8 million from a year ago period. Comparable store sales in the quarter declined 4.3%.

Net income in the quarter plunged 27.4% to $29.9 million or 65 cents a diluted share compared to $41.2 million or 89 cents from a same quarter last year.

Autodesk, Inc ((ADSK)) soared 7.6% or $4.47 to $62.88 after the application software developer reported revenues in the third-quarter ending in October soared 11% to $618 million from a year ago period.

Net income in the quarter tumbled 81.4% to $10.7 million or 5 cents a diluted share compared to $57.6 million or 25 cents from a same quarter last year.

The Blackstone Group L.P ((BX)) gained 28 cents to $33.14 after the investment company agreed to acquire Japan-based residential assets from General Electric Co in a deal worth more than $1.6 billion or 190 billion yen.

Foot Locker, Inc ((FL)) slipped 1.1% or 64 cents to $56.36 after the athletic shoes and apparel retailer stated net sales in the third-quarter ending on November 1 climbed 6.7% to $1.73 billion from a year ago period. Comparable store sales in the quarter jumped 6.9%.

Net income in the quarter surged 15.4% to $120 million or 82 cents a diluted share compared to $104 million or 70 cents from a same quarter last year.

The Gap Inc ((GPS)) plummeted 5.9% or $2.38 to $37.76 after the specialty retailer reported net sales in the third-quarter ending on November 1 nearly flat at $3.97 billion from a year ago period. Comparable store sales in the quarter slipped 2%.

Net income in the quarter jumped 4.1% to $351 million or 80 cents a diluted share compared to $337 million or 72 cents from a same quarter last year.

Intuit Inc ((INTU)) increased 2.1% or $1.91 to $92.64 after the accounting software developer said revenues in the first-quarter ending in October climbed 8% to $672 million from a year ago period.

Net loss in the quarter widened to $84 million or 29 cents a diluted share compared to $11 million or 4 cents from a same quarter last year.

Ross Stores, Inc ((ROST)) surged 6.7% or $5.54 to $88.75 after the off-price retailer net sales in the third-quarter ending on November 1 climbed 8% to $2.60 billion from a year ago period. Comparable store sales in the quarter jumped 4%.

Net income in the quarter soared 12.2% to $192.7 million or 93 cents a diluted share compared to $171.6 million or 80 cents from a same quarter last year.