Caleres, Deere, TiVo Soar; Guess Sales Fall

Mukesh Buch
25 Nov, 2015
New York City

Caleres net rose 3%. Deere & Co net tumbled 46% and revenues declined 25%. Guess profit and sales plummeted. TiVo net declined 16% while revenues jumped 12%.

[R]11:00 AM New York – Caleres net rose 3%. Deere & Co net tumbled 46% and revenues declined 25%. Guess profit and sales plummeted. TiVo net declined 16% while revenues jumped 12%.[/R]

Tollbooth Index gained 16.14 or 0.2% to 11,040.91.

Earnings Review

Caleres Inc ((CAL)) jumped 2.7% or 79 cents to $29.64 after the footwear retailer said net sales in the third-quarter ending in October fell 0.1% from a year ago to $728.6 million.

Net income in the quarter increased 2.7% to $34 million or 78 cents per diluted share compared to $33.1 million or 75 cents per share from the same quarter last year.

Caleres forecasted net sales for the year of about $2.61 billion and earnings per share in the range of $1.95 to $2.

Deere & Company ((DE)) soared 4.9% or $3.73 to $80.07 after the forestry equipment and financial services provider reported net sales in the fourth-quarter ending in October declined 25% from a year ago to $6.72 billion.

Net income in the quarter tumbled 46% to $351.2 million or $1.08 per diluted share compared to $649 million or $1.83 per share from the same quarter last year.

For fiscal 2016, net income is estimated at $1.4 billion, equipment sales are expected to decline 11% in the first-quarter compared to a year ago period.

Guess, Inc ((GES)) surged 6.8% or $1.32 to $20.86 after the apparel and accessories retailer stated revenues sales in the third-quarter ending in October plunged 11.7% from a year ago to $521 million.

Net income in the quarter plummeted 40.4% to $12.4 million or 15 cents per diluted share compared to $20.8 million or 24 cents per share from the same quarter last year.

The company said retail revenues in America dropped 7% and wholesale revenues slumped 12%.

Revenues in the Europe declined 15% and retail revenues in Asia decreased 17%.

TiVo Inc ((TIVO)) advanced 4.9% or 46 cents to $9.77 after the broadcasting equipment provider said total revenues in the third-quarter ending in October jumped 11.7% from a year ago to $132.3 million.

Net income in the quarter declined 15.9% to $5.3 million compared to $6.3 million and diluted earnings per share were flat at 6 cents from the same quarter last year.