Ascena, G-III Soar; Bob Evans, REX American Decline

Mukesh Buch
02 Dec, 2015
New York City

Ascena net swung to a loss but sales soared 40%. Brown-Forman net fell 3%. Bob Evans revenues slid. G-III net advanced 8% and lowered earnings forecast. Isle of Capri Casinos net swung to profit. REX American net tumbled 68%. Village Super Market net surged 14%.

[R]11:20 AM New York – Ascena net swung to a loss but sales soared 40%. Brown-Forman net fell 3%. Bob Evans revenues slid. G-III net advanced 8% and lowered earnings forecast. Isle of Capri Casinos net swung to profit. REX American net tumbled 68%. Village Super Market net surged 14%.[/R]

Tollbooth Index edged up 2.68 to 11,074.45.

Earnings Review

Ascena Retail Group Inc ((ASNA)) jumped 4% or 48 cents to $12.26 after the specialty retailer reported revenues in the first-quarter ending on October 24 soared 40.3% from a year ago to $1.67 billion.

Net in the quarter swung to a loss of $18.1 million or 10 cents per diluted share compared to profit of $53.5 million or 32 cents per share from the same quarter last year.

Brown-Forman Corporation ((BF.A)) fell 19 cents to $114.18 after the alcoholic beverages maker said revenues in the second-quarter ending in October declined 4% from a year ago to $1.1 billion.

Net income in the quarter slipped 3% to $200 million compared to $208 billion and diluted earnings per share were flat at 97 cents from the same quarter last year.

Bob Evans Farms Inc ((BOBE)) plummeted 5.8% or $2.31 to $37.71 after the full-service restaurant operator said revenues in the second-quarter ending on October 23 slumped 2.5% from a year ago to $325 million.

Net income in the quarter jumped 6.4% to $6.43 million or 29 cents per diluted share compared to $6.04 million or 25 cents per share from the same quarter last year.

G-III Apparel Group, Ltd ((GIII)) surged 10.1% or $4.80 to $52.19 after the apparels retailer reported net sales in the third-quarter ending in October jumped 12% from a year ago to $910 million.

Comparable store sales in the quarter increased 6%.

Net income in the quarter advanced 8.2% to $87.2 million or $1.87 per diluted share compared to $80.6 million or $1.76 per share from the same quarter last year.

The company forecasted net sales for the year of about $2.40 billion but lowered net income estimate between $124 million and $131 million from previous guidance in the range of $129 million to $134 million.

Isle of Capri Casinos ((ISLE)) plunged 13.9% or $2.58 to $16.39 after the casino, lodging and entertainment services provider stated revenues in the second-quarter ending on October 25 fell 0.8% from a year ago to $236.3 million.

Net in the quarter swung to profit $11.5 million or 28 cents per diluted share compared to a loss of $1 million or 3 cents per share from the same quarter last year.

REX American Resources Corp ((REX)) declined 5.2% or $3.34 to $60.74 after the ethanol producer reported net sales in the third-quarter ending in October plunged 20.1% from a year ago to $110.6 million.

Net income in the quarter tumbled 67.8% to $7.5 million or $1.08 per diluted share compared to $23.3 million or $2.86 per share from the same quarter last year.

Village Super Market, Inc ((VLGEA)) rose 8 cents to $25.88 after the supermarkets operator said revenues in the first-quarter ending on October 24 increased 2.6% from a year ago to $389.5 million.

Same store sales in the quarter advanced 2.6%.

Net income in the quarter jumped 14.2% to $4.43 million or 31 cents per diluted share compared to $3.88 million or 27 cents per share from the same quarter last year.