Barnes & Noble, Joy Global Soar; Ciena, Kroger, Stage Stores Plunge

Mukesh Buch
03 Mar, 2016
New York City

Barnes & Noble net surged 11%. Burlington Stores net and revenues rose 4%. Ciena net loss narrowed after revenues jumped. Joy Global net swung to a loss on 25% decline in revenues. Kroger profit soared 8%. Stage Stores net plunged 52%. Tech Data net surged 19%.

[R]11:55 AM New York – Barnes & Noble net surged 11%. Burlington Stores net and revenues rose 4%. Ciena net loss narrowed after revenues jumped. Joy Global net swung to a loss on 25% decline in revenues. Kroger profit soared 8%. Stage Stores net plunged 52%. Tech Data net surged 19%.[/R]

Tollbooth Index decreased 55.08 or 0.5% to 10,370.63.

Earnings Review

Barnes & Noble, Inc ((BKS)) jumped 4.4% or 45 cents to $10.68 after the book and magazine retailers said net sales in the third-quarter ending in January fell 1.8% from a year ago to $1.4 billion.

Comparable store sales in the quarter increased 0.2%.

Net income in the quarter surged 11.2% to $80.3 million or $1.04 per diluted share compared to $72.2 million or 96 cents per share from the same quarter last year.

Burlington Stores Inc ((BURL)) dropped 3.1% or $1.75 to $55.01 after the branded apparel retailer reported net sales in the fourth-quarter ending in January increased 3.7% from a year ago to $1.54 billion.

Comparable store sales in the quarter rose 0.1%.

Net income in the quarter rose 4.1% to $98.8 million or $1.49 per diluted share compared to $94.9 million or $1.43 per share from the same quarter last year.

The retailer estimated comparable stores sales in fiscal 2016 to jump between 2.5% and 3.5% and net sales to increase in the range of 6.5% to 7.5% while adjusted net income per share in the range of $2.62 to $2.72.

Ciena Corporation ((CIEN)) tumbled 20.5% or $4.25 to $16.46 after the network solution provider stated total revenues in the first-quarter ending in January advanced 8.3% from a year ago to $573.1 million.

Net loss in the quarter narrowed to $11.5 million or 8 cents per diluted share compared to $18.8 million or 17 cents per share from the same quarter last year.

The company forecasted revenues in the second-quarter in the range of $615 to $645 million.

Joy Global Inc ((JOY)) surged 21.4% or $2.85 to $16.17 after the mining equipment maker said net sales in the fourth-quarter ending in January declined 25% from a year ago to $526.3 million.

Net in the quarter swung to a loss of $40.2 million or 41 cents per diluted share compared to profit of $30.5 million or 31 cents per share from the same quarter last year.

The Kroger Co ((KR)) plunged 7.3% or $2.95 to $37.70 after the groceries stores operator reported sales in the fourth-quarter ending in January jumped 4% from a year ago to $26.2 billion.

Comparable store sales in the quarter increased 0.2%.

Net income in the quarter soared 7.9% to $559 million or 57 cents per diluted share compared to $518 million or 52 cents per share from the same quarter last year.

Kroger estimated comparable supermarket sales excluding fuel to increase in the range 2.5% to 3.5% and diluted earnings per share between $2.19 and $2.28.

Stage Stores Inc ((SSI)) tumbled 21.3% or $1.90 to $7.01 after the apparel and accessories retailer said net sales in the fourth-quarter ending in January dropped 4.2% from a year ago to $502.6 million.

Comparable store sales in the quarter slumped 3.4%.

Net income in the quarter plunged 52% to $21 million or 71 cents per diluted share compared to $43.7 million or $1.36 per share from the same quarter last year.

The retailer forecasted sales in the year in a range of $1.53 billion to $1.56 billion and comparable sales to drop between 3% and 1% and diluted earnings per share in the range of 40 cents to 60 cents.

Tech Data Corporation ((TECD)) slipped 1.6% or $1.17 to $71.81 after the technology products distributor reported revenues in the fourth-quarter ending in January rose 2% from a year ago to $7.48 billion.

Net income in the quarter surged 19.1% to $96.1 million or $2.72 per diluted share compared to $80.7 million or $2.11 per share from the same quarter last year.