Toro, Tech Data Jump; Buckle, Bon-Ton, Cato, Sears Decline

Mukesh Buch
20 Aug, 2015
New York City

Buckle net fell 4%. Bon-Ton net loss widened after sales dropped. Cato net slid. L Brands profit soared 8% and lifted fiscal outlook. Madison Square Garden net surged 294%. Stage Stores profit tumbled 86% and lowered earnings estimate. Sears net swung to profit. Tech Data net soared 94%.

[R]12:35 PM New York – Buckle net fell 4%. Bon-Ton net loss widened after sales dropped. Cato net slid. L Brands profit soared 8% and lifted fiscal outlook. Madison Square Garden net surged 294%. Stage Stores profit tumbled 86% and lowered earnings estimate. Sears net swung to profit. Tech Data net soared 94%.[/R]

Tollbooth Index slipped 113.95 or 1.1% to 10,751.06.

Earnings Review

The Buckle, Inc ((BKE)) slumped 3.7% or $1.57 to $41.33 after the apparel, footwear and accessories retailer said net sales in the second-quarter ending on August 1 edged up 0.1% to $236.1 million from a year ago period.

Comparable store sales in the quarter slipped 1.7% while online sales soared 17.4% to $20.1 million.

Net income in the quarter decreased 4.1% to $23.5 million or 49 cents per diluted share compared to $24.5 million or 51 cents from the same quarter last year.

Bon-Ton Stores Inc ((BONT)) plunged 11.3% or 44 cents to $3.46 after the department store operator total sales in the second-quarter ending on August 1 fell 1.4% to $555.4 million from a year ago period.

Same store sales in the quarter decreased 1.3%.

Net loss in the quarter widened to $39.6 million or $2.01 per diluted share compared to $36.2 million or $1.86 from the same quarter last year.

Cato Corporation ((CATO)) declined 4.5% or $1.68 to $35.50 after the women''s fashion retailer stated net revenues in the second-quarter ending on August 1 increased 2.1% to $251.3 million from a year ago period.

Same store sales in the quarter were flat.

Net income in the quarter slid 0.6% to $15.6 million compared to $15.7 million and diluted earnings per share were flat at 56 cents from the same quarter last year.

L Brands Inc ((LB)) increased 2.5% or $2.02 to $83.22 after the specialty retailer reported net sales in the second-quarter ending on August 1 jumped 3% to $2.77 billion from a year ago period.

Same store sales in the quarter advanced 4%.

Net income in the quarter surged 7.5% to $202.48 million or 68 cents per diluted share compared to $188.36 million or 63 cents from the same quarter last year.

The retailer forecasted earnings per share for the third-quarter between 40 cents and 45 cents.

For the year, the company lifted full-year earnings per share estimate in the rage of $3.58 to $3.73 compared to previous guidance of $3.50 to $3.70.

The Madison Square Garden Co ((MSG)) dropped 3.6% or $2.72 to $73.70 after the sports, entertainment and media company said revenues in the fourth-quarter ending in June rose 4% to $387.9 billion from a year ago period.

Net income in the quarter soared 294% to $45.7 million or 60 cents per diluted share compared to $11.6 million or 15 cents from the same quarter last year.

Stage Stores Inc ((SSI)) tumbled 28.1% or $4.75 to $12.15 after the apparel and accessories retailer stated sales in the second-quarter ending on August 1 rose 0.9% to $380.9 million from a year ago period.

Same store sales in the quarter gained 0.8%.

Net income in the quarter plunged 85.7% to $1.6 million or 5 cents per diluted share compared to $11.2 million or 35 cents from the same quarter last year.

The company lowered diluted earnings per share estimate for the third-quarter between $1.05 and $1.15 compared to previous guidance of $1.20 to $1.28 and comparable sales estimated to flat from previous guidance range of flat to 2%.

Sears Holdings Corp ((SHLD)) plummeted 4.7% or $1.10 to $22.24 after the specialty retailer reported revenues in the second-quarter ending on August 1 plunged 22.5% to $6.21 billion from a year ago period.

Kmart and Sears domestic same store sales in the quarter declined 7.3% and 14% respectively.

Net in the quarter swung to profit $208 million or $1.84 per diluted share compared to a loss of $573 million or $5.39 from the same quarter last year.

As of August 1, the company had cash balance of $1.8 billion and no revolver borrowings and letters of credit outstanding of about $657 million.

Toro Co ((TTC)) jumped 3.3% or $2.36 to $73.42 after the turf and agricultural machinery maker said revenues in the third-quarter ending in July advanced 7.4% to $609.6 billion from a year ago period.

Net income in the quarter jumped 6.6% to $53.3 million or 94 cents per diluted share compared to $50 million or 87 cents from the same quarter last year.

Tech Data Corp ((TECD)) surged 10.1% or $5.18 to $61.48 after the technology products distributor reported revenues in the second-quarter ending in July slumped 3.8% to $6.58 billion from a year ago period.

Net income in the quarter soared 94.4% to $76.4 million or $2.09 per diluted share compared to $39.3 million or $1.03 from the same quarter last year.