Dollar General Jumps; Aeropostale, Express, PVH, Titan Plunge

Mukesh Buch
03 Dec, 2015
New York City

Aeropostale net loss narrowed but American Eagle net soared. Dollar General net and revenues surged 7%. Express net soared 80% on 10% jump in revenues. Medtronic net tumbled 37%.Michaels Co net soared 20%. PVH profit fell. Sears net loss narrowed and revenues plummeted 19%.

[R]10:25 AM New York – Aeropostale net loss narrowed but American Eagle net soared. Dollar General net and revenues surged 7%. Express net soared 80% on 10% jump in revenues. Medtronic net tumbled 37%.Michaels Co net soared 20%. PVH profit fell. Sears net loss narrowed and revenues plummeted 19%.[/R]

Tollbooth Index slipped 41.82 or 0.4% to 10,939.94.

Earnings Review

Aeropostale Inc ((ARO)) tumbled 35.2% to 38 cents after the specialty retailer said net sales in the third-quarter ending in October plunged 20% from a year ago to $363.3 million.

Comparable store sales in the quarter declined 10%.

Net loss in the quarter narrowed to $26.4 million or 33 cents per diluted share compared to $52.3 million or 66 cents per share from the same quarter last year.

American Eagle Outfitters ((AEO)) increased 15 cents to $15.96 after the apparel and accessories retailer net revenues in the third-quarter ending in October jumped 8% from a year ago to $919 million.

Comparable store sales in the quarter surged 9%.

Net income in the quarter soared to $74.1 million or 38 cents per diluted share compared to $9 million or 5 cents per share from the same quarter last year.

Dollar General Corp ((DG)) jumped 2.7% or $1.78 to $67.11 after the discount retailer reported revenues in the third-quarter ending in October soared 7.3% from a year ago to $5.07 billion.

Same-Store Sales in the quarter increased 2.3%.

Net income in the quarter surged 7.2% to $253.3 million or 86 cents per diluted share compared to $236.3 million or 78 cents per share from the same quarter last year.

For the fourth-quarter, the retailer estimated diluted earnings per share in the range of $1.23 to $1.28.

The company lifted diluted earnings per share forecast for the year between $3.87 and $3.92 from previous guidance in the range of $3.85 to $3.95.

Express, Inc ((EXPR)) declined 4.7% or 85 cents to $16.56 after the apparel and accessories retailer said net sales in the third-quarter ending in October jumped 10% from a year ago to $546.6 million.

Same store sales in the quarter advanced 6% and online sales rose 6% to $83.8 million.

Net income in the quarter surged 80.1% to $26.3 million or 31 cents per diluted share compared to $14.6 million or 17 cents per share from the same quarter last year.

Lands' End, Inc ((LE)) fell 20 cents to $23.18 after the apparel and home products retailer stated revenues in the third-quarter ending in October declined 10.4% from a year ago to $334.4 million.

Same-Store sales in the quarter increased 2.3%.

Net income in the quarter plunged 40.5% to $10.7 million or 33 cents per diluted share compared to $18 million or 56 cents per share from the same quarter last year.

Medtronic Plc ((MDT)) rose 1.9% or $1.44 to $77.61 after the medical technology and services provider reported revenues in the second-quarter ending in October jumped 6% from a year ago to $7.1 billion.

Net income in the quarter tumbled 37.2% to $520 million or 36 cents per diluted share compared to $828 million or 83 cents per share from the same quarter last year.

For the second half of fiscal 2016, the company forecasted revenue growth to be in the upper-half of its mid-single digit and diluted non-GAAP earnings per share in the range of $4.33 to $4.40.

Michaels Companies Inc ((MIK)) gained 1.1% or 25 cents to $22.15 after the arts and crafts retailer stated revenues in the third-quarter ending in October increased 3.4% from a year ago to $1.2 billion.

Same-Store sales in the quarter rose 1.5%.

Net income in the quarter soared 19.9% to $76.8 million or 37 cents per diluted share compared to $64.1 million or 31 cents per share from the same quarter last year.

PVH Corp ((PVH)) plunged 6.2% or $5.78 to $87.60 after the branded apparels maker reported revenues in the third-quarter ending in October fell 3% from a year ago to $2.16 billion.

Net income in the quarter slipped 1.7% to $221.9 million or $2.67 per diluted share compared to $225.7 million or $2.71 per share from the same quarter last year.

Sears Holdings Corp ((SHLD)) decreased 1.7% or 37 cents to $20.16 after the department stores operator said revenues in the third-quarter ending in October plummeted 19.4% from a year ago to $5.8 billion.

Kmart comparable store sales in the quarter declined 7.5% and Sears domestic comparable store sales in the quarter plunged 9.6%.

Net loss in the quarter narrowed to $454 million or $4.26 per diluted share compared to $548 million or $5.15 per share from the same quarter last year.

Titan Machinery Inc ((TITN)) plummeted 11.3% or $1.41 to $11.05 after the agricultural and construction equipment provider stated revenues in the third-quarter ending in October tumbled 30% from a year ago to $345 million.

Net income in the quarter surged 41.7% to $3.4 million or 16 cents per diluted share compared to $2.4 million or 11 cents per share from the same quarter last year.

The company said sales in equipment segment in the third quarter plunged 37.2% to $215.7 million and sales in parts business declined 8.5% to $73.8 million.

Titan forecasted agriculture same store sales to drop in the range of 28% to 33% and same store sales in construction segment to decrease between 8% and 13%.