Cracker Barrel, Macy's Rise; Ecolab, Expeditors, Smucker, Office Depot Fall

Mukesh Buch
23 Feb, 2016
New York City

Cracker Barrel lifted fiscal earnings outlook. Ecolab net tumbled 38%. Expeditors Intl net soared 15% while sales declined 10%. Home Depot profit surged 7%. Smucker net and sales jumped. Macy''s profit plunged 31%. Office Depot net swung to profit.

[R]11:55 AM New York – Cracker Barrel lifted fiscal earnings outlook. Ecolab net tumbled 38%. Expeditors Intl net soared 15% while sales declined 10%. Home Depot profit surged 7%. Smucker net and sales jumped. Macy''s profit plunged 31%. Office Depot net swung to profit.[/R]

Tollbooth Index slipped 111.21 or 1.1% to 10,131.02.

Earnings Review

Cracker Barrel Old Country Store, Inc ((CBRL)) gained 1.3% or $1.83 to $143.09 after the restaurant and gift shop operator said total revenue in the second-quarter ending in December rose 1.1% from a year ago to $764 million.

Comparable store restaurant sales increased 0.6% as average menu price increase in the quarter of about 2.9% while comparable store retail sales jumped 2.6%.

Net income in the quarter rose 2% to $48.2 million or $2.01 per diluted share compared to $47.2 million or $1.96 per share from the same quarter last year.

The company lifted its diluted earnings per share forecast in fiscal year between $7.40 and $7.50 and estimate to report increases comparable store restaurant sales and comparable store retail sales in the range of 1.5% to 2.5% and total revenues between $2.90 billion and $2.95 billion.

Ecolab Inc ((ECL)) declined 5.1% or $5.52 to $102.60 after the water, hygiene and energy technology provider reported net sales in the fourth-quarter ending in December slumped 7% from a year ago to $3.41 billion.

Net income in the quarter tumbled 38% to $208.9 million or 69 cents per diluted share compared to $335.5 million or $1.10 per share from the same quarter last year.

Ecolab forecasted diluted earnings per share in the fiscal 2016 in the range of $4.35 to $4.55 mainly due to adverse currency and Venezuela deconsolidation.

Expeditors International of Washington ((EXPD)) dropped 3.8% or $1.80 to $44.95 after the air and ocean freight services provider said net revenue in the fourth-quarter ending in December declined 10% from a year ago to $1.60 billion.

Net income in the quarter soared 15% to $114.4 million or 61 cents per diluted share compared to $99.4 million or 51 cents per share from the same quarter last year.

The Home Depot, Inc ((HD)) increased 97 cents to $123.82 after the home improvement retailer reported sales in the fourth-quarter ending in December soared 9.5% from a year ago to $21 billion.

Comparable store sales in the quarter jumped 7.1% and comparable sales in the U.S. stores were advanced 8.9%.

Net income in the quarter surged 7.1% to $1.5 billion or $1.17 per diluted share compared to $1.4 billion or $1.05 per share from the same quarter last year.

J M Smucker Co ((SJM)) slumped 3.6% or $4.50 to $122.36 after the pet food and snacks maker said net sales in the third-quarter ending in December surged 37% from a year ago to $1.97 billion.

Net income in the quarter jumped 15% to $185.3 million or $1.55 per diluted share compared to $160.9 million or $1.58 per share from the same quarter last year.

Macy''s, Inc ((M)) jumped 2.5% or $1.02 to $42.08 after the department stores operator reported sales in the fourth-quarter ending in December dropped 5% from a year ago to $8.87 billion.

Comparable store sales in the quarter slumped 4.8%.

Net income in the quarter plunged 31.4% to $544 million or $1.73 per diluted share compared to $793 million or $2.26 per share from the same quarter last year.

Office Depot Inc ((ODP)) decreased 2.3% or 12 cents to $5.10 after the office products and services provider stated sales in the fourth-quarter ending in December declined 9% from a year ago to $3.47 billion.

Net in the quarter swung to profit $15 million or 3 cents per diluted share compared to a loss of $84 million or 15 cents per share from the same quarter last year.

Toll Brothers Inc ((TOL)) rose 10 cents to $26.22 after the luxurious residential apartments developer said revenue in the first-quarter ending in January advanced 9% from a year ago to $928.6 million.

Net income in the quarter plummeted 9.9% to $73.2 million or 40 cents per diluted share compared to $81.3 million or 44 cents per share from the same quarter last year.