ConAgra Net Swings to Profit; Bed Bath & Beyond, Rite Aid Net Decline

Mukesh Buch
07 Apr, 2016
New York City

Apollo Education net loss widened. Bed Bath & Beyond profit declined 6%. ConAgra net swung to profit. CarMax net fell but sales jumped 6%. Hooker Furniture net and revenues dropped. Rite Aid net plunged 64% while revenues soared 21%.

[R]12:35 PM New York – Apollo Education net loss widened. Bed Bath & Beyond profit declined 6%. ConAgra net swung to profit. CarMax net fell but sales jumped 6%. Hooker Furniture net and revenues dropped. Rite Aid net plunged 64% while revenues soared 21%.[/R]

Tollbooth Index slipped 115.11 or 1.1% to 10,680.82.

Earnings Review

Apollo Education Group Inc ((APOL)) slumped 2.8% or 22 cents to $7.84 after the private education provider said in the second-quarter ending in February soared 19.1% from a year ago to $465.3 million.

Net loss in the quarter widened to $60.4 million or 56 cents per diluted share compared to $33.6 million or 31 cents per share from the same quarter last year.

Bed Bath & Beyond Inc ((BBBY)) jumped 3.6% or $1.75 to $50.54 after the home furnishings retailer reported net sales in the fourth-quarter ending on February 27 increased 2.4% from a year ago to $3.42 billion.

Comparable store sales in the quarter increased 1.7%.

Net income in the quarter declined 5.5% to $303.5 million or $1.91 per diluted share compared to $321.1 million or $1.80 per share from the same quarter last year.

ConAgra Foods Inc ((CAG)) gained 1.7% or 78 cents to $46.21 after the packaged food company reported revenues in the third-quarter ending on February 28 rose 0.6% from a year ago to $2.92 billion.

Net in the quarter swung to profit $204.6 million or 46 cents per diluted share compared to a loss of $954.1 million or $2.21 per share from the same quarter last year.

ConAgra said sales in consumer food segment dropped 2% to $5.53 billion while sales in commercial food business jumped 3.6% to $3.28 billion from $3.17 billion in the same period a year ago.

However, total operating profit for both the segments soared 14% to $1.33 billion from $1.17 billion in a year ago period.

CarMax, Inc ((KMX)) declined 5% or $2.68 to $50.61 after the used vehicles provider net sales in the fourth-quarter ending in February advanced 5.5% from a year ago to $3.71 billion.

Net income in the quarter fell 1.3% to $141 million or 71 cents per diluted share compared to $143.1 million or 67 cents per share from the same quarter last year.

Hooker Furniture Corporation ((HOFT)) tumbled 16.1% or $5.37 to $27.92 after the home furnishings company said revenues in the fourth-quarter ending in January slumped 6.7% from a year ago to $60.6 million.

Net income in the quarter decreased 4% to $4.1 million or 38 cents per diluted share compared to $4.3 million or 40 cents per share from the same quarter last year.

Rite Aid Corporation ((RAD)) slid 5 cents to $8.09 after the retail drugstore chain stated revenues in the fourth-quarter ending on February 27 soared 20.8% from a year ago to $8.27 billion.

Same store sales in the quarter fell 0.6% and a 0.4% decrease in front-end sales. The number of prescriptions filled in same stores increased 0.1%.

Net income in the quarter tumbled 64.3% to $65.6 million or 6 cents per diluted share compared to $1.84 billion or $1.79 per share from the same quarter last year.