Cato, Cisco, Dicks Sporting Jump; L Brands, Stage Stores, Toro Decline

Mukesh Buch
19 May, 2016
New York City

Advance Auto Parts net jumped 7%. Brady net surged 22%. Cato lowered earnings outlook. Cisco net dropped 4%. Dicks Sporting declined 10%. L Brands net tumbled 39% and the retailer lowered earnings forecast. Stein Mart net rose. Toro net soared. Stage Stores plunged 18%.

[R]12:00 PM New York – Advance Auto Parts net jumped 7%. Brady net surged 22%. Cato lowered earnings outlook. Cisco net dropped 4%. Dicks Sporting declined 10%. L Brands net tumbled 39% and the retailer lowered earnings forecast. Stein Mart net rose. Toro net soared. Stage Stores plunged 18%.[/R]

Tollbooth Index slipped 74.45 or 0.7% to 10,270.36.

Earnings Review

Advance Auto Parts, Inc ((AAP)) fell 21 cents to $143.60 after the automobile aftermarket parts provider reported total sales in the first-quarter ending on April 23 slipped 1.9% from a year ago to $2.98 billion.

Comparable store sales in the quarter decreased 1.9%.

Net income in the quarter jumped 7.2% to $158.8 million or $2.14 per diluted share compared to $148.1 million or $2 per share from the same quarter last year.

Brady Corp ((BRC)) soared 4.2% or $1.10 to $27.43 after the identification solution provider said sales in the third-quarter ending in April fell 1.2% from a year ago to $286.8 million.

Net income in the quarter surged 22.1% to $21 million or 42 cents per diluted share compared to $17.2 million or 33 cents per share from the same quarter last year.

The Cato Corporation ((CATO)) jumped 5.3% or $1.84 to $36.64 after the women''s fashion specialty retailer reported sales in the first-quarter ending in April rose 1% from a year ago to $285.5 million.

Same-store sales in the quarter were flat from a year ago.

Net income in the quarter soared 15% to $35.9 million or $1.29 per diluted share compared to $31.1 million or $1.11 per share from the same quarter last year.

In the second-quarter, the retailer forecasted diluted earnings per share in the range of 50 cents to 53 cents compared to 56 cents in a year ago period.

Cato estimated 2016 diluted earnings per share between $2.25 and $2.38 compared to $2.39 in 2015.

Cisco Systems, Inc ((CSCO)) advanced 3.2% or 86 cents to $27.58 after the router and network equipment provider reported revenues in the third-quarter ending in April fell 1% from a year ago to $12 billion.

Net income in the quarter slipped 4% to $2.3 billion or 46 cents per diluted share compared to $2.4 billion or 47 cents per share from the same quarter last year.

Dicks Sporting Goods Inc ((DKS)) soared 8.5% or $3.23 to $41.33 after the sporting goods retailer reported net sales in the first-quarter ending in April advanced 6.1% from a year ago to $1.7 billion.

Same-store sales across all divisions in the quarter rose 0.5% and same store sales for Dick’s Sporting Goods increased 0.4% while Golf Galaxy increased 1.7%.

Net income in the quarter declined 10.1% to $56.9 million or 50 cents per diluted share compared to $63.3 million or 53 cents per share from the same quarter last year.

L Brands Inc ((LB)) declined 5.3% or $3.40 to $60.38 after the specialty retailer said net sales in the first-quarter ending on May 2 rose 2% from a year ago to $2.61 billion.

Comparable store sales in the quarter increased 3%.

Net income in the quarter tumbled 39.2% to $152.3 million or 52 cents per diluted share compared to $250.5 million or 84 cents per share from the same quarter last year.

The retailer lowered diluted earnings per share forecast in the year to between $3.60 and $3.80 from the earlier estimated range of $3.90 to $4.10.

The company estimated comparable sales in May to fall in low to mid-single digits from last year.

Stein Mart, Inc ((SMRT)) surged 8.6% or 49 cents to $6.22 after the apparel and accessories retailer stated total sales in the first-quarter ending in April edged up 0.6% from a year ago to $355.7 million.

Comparable store sales in the quarter slumped 3.4%.

Net income in the quarter rose 0.7% to $13.7 million or 30 cents per diluted share compared to $13.6 million or 29 cents per share from the same quarter last year.

Stage Stores Inc ((SSI)) tumbled 17.7% or $1.04 to $4.84 after the apparel, and accessories retailer said total sales in the first-quarter ending in April declined 9.9% from a year ago to $332.8 million.

Comparable store sales in the quarter dropped 8.5%.

Net loss in the quarter widened to $15.5 million or 57 cents per diluted share compared to $8.6 million or 27 cents per share from the same quarter last year.

The retailer forecasted comparable sales in the fiscal year to decline in the range of 4% to 6% and diluted earnings per share between 20 cents and 40 cents.

Toro Company ((TTC)) plunged 6.7% or $5.87 to $81.79 after the turf equipment and services provider reported net sales in the second-quarter ending in April gained 1.2% from a year ago to $836.4 million.

Net income in the quarter jumped 12.7% to $105.7 million or $1.89 per diluted share compared to $93.8 million or $1.64 per share from the same quarter last year.

Toro forecasted diluted earnings per share in the third-quarter of about 95 cents.

The turf equipment maker estimated fiscal 2016 revenues are between flat to 2% increase and diluted earnings per share to increase to between $3.90 and $4.