Cooper Beats Expectations, Staples Swings to Profit

Mukesh Buch
04 Mar, 2016
New York City

Big Lots net edged up as sales fell 0.6%. Cooper profit plunged 16%. Hurco net rose 3%. Staples net swung to profit while net sales declined 7%. Under Armour reiterated revenues and operating income forecast.

[R]12:05 PM New York – Big Lots net edged up as sales fell 0.6%. Cooper profit plunged 16%. Hurco net rose 3%. Staples net swung to profit while net sales declined 7%. Under Armour reiterated revenues and operating income forecast.[/R]

Tollbooth Index rose 19.76 or 0.2% to 10,458.48.

Earnings Review

Big Lots, Inc ((BIG)) jumped 3.3% or $1.36 to $43.25 after the discount retailer reported net sales in the fourth-quarter ending in January fell 0.6% from a year ago to $1.58 billion.

Comparable store sales in the quarter increased 0.7%.

Net income in the quarter edged up 0.1% to $94.5 million or $1.91 per diluted share compared to $94.4 million or $1.77 per share from the same quarter last year.

Cooper Companies Inc ((COO)) soared 5.3% or $7.63 to $152.64 after the medical devices maker said revenues in the first-quarter ending in January rose 1% from a year ago to $449.6 million.

Net income in the quarter plunged 16% to $51.4 million or $1.05 per diluted share compared to $61.2 million or $1.25 per share from the same quarter last year.

Hurco Companies, Inc ((HURC)) surged 9.7% or $2.65 to $30 after the testing and measuring equipment maker stated net sales in the first-quarter ending in January jumped 11% from a year ago to $56.5 million.

Net income in the quarter rose 2.6% to $3.9 million or 58 cents per diluted share compared to $3.8 million or 57 cents per share from the same quarter last year.

Staples, Inc ((SPLS)) slid 7 cents to $9.80 after the specialty retailer reported sales in the fourth-quarter ending in January declined 7% from a year ago to $5.3 billion.

Comparable store sales in the quarter dropped 5%.

Net in the quarter swung to profit $86 million or 13 cents per diluted share compared to a loss of $260 million or 41 cents per share from the same quarter last year.

Under Armour Inc ((UA)) gained 68 cents to $83.77 after the apparel, footwear and accessories distributor reiterated net revenues in the fiscal 2016 to jump 25% to $4.95 billion and operating income to soar 23% from a year ago period.