Costco Lifts Annual Fee, Big Lots Jumps on Outlook

Mukesh Buch
04 Mar, 2017
New York City

Big Lots increased its dividend comparable store sales rose a fraction and the discount retailer sees higher earnings. Costco reported slower sales growth than expectations and increased membership fee to $60 a year. Cooper beats estimates.

[R]11:00 AM New York – Big Lots increased its dividend comparable store sales rose a fraction and the discount retailer sees higher earnings. Costco reported slower sales growth than expectations and increased membership fee to $60 a year. Cooper beats estimates.[/R]

Tollbooth Index slipped 51.14 or 0.4% to 11,658.88.

Earnings Review

AdvanSix Inc ((ASIX)) surged 9.3% or $2.52 to $29.49 after the specialty chemicals producer said net sales in the fourth-quarter ending in December plunged 18% from a year ago to $259.3 million.

Net in the quarter swung to a loss of $24.7 million or 81 cents per diluted share from profit of $15.36 million or 50 cents per share in the same quarter last year.

Big Lots Inc ((BIG)) jumped 3.4% or $1.78 to $54.03 after the discount retailer reported revenues in the fourth-quarter ending in December slid 0.3% from a year ago to $1.6 billion.

Comparable store sales in the quarter increased 0.3%.

Net income in the quarter slumped 4.7% to $90.1 million or $1.99 per diluted share from $94.5 million or $1.91 per share in the same quarter last year.

Big Lots forecasted earnings per share in the first-quarter between 95 cents to $1.05 and in the year in the range of $3.95 to $4.10.

Costco Wholesale Corporation ((COST)) declined 4.1% or $7.32 to $170.69 after the wholesale discount stores operator reported revenues in the fourth-quarter ending in December jumped 6% from a year ago to $29.1 billion.

Comparable store sales in the quarter advanced 3%.

Net income in the quarter declined 5.7% to $515 million or $1.17 per diluted share from $546 million or $1.24 per share in the same quarter last year.

Cooper Companies Inc ((COO)) slumped 2.3% or $4.53 to $196.61 after the medical device maker stated revenues in the first-quarter ending in December rose 11% from a year ago to $499.1 million.

Net income in the quarter jumped 47.5% to $75.8 million or $1.53 per diluted share from $51.4 million or $1.05 per share in the same quarter last year.

Methode Electronics Inc ((MEI)) gained 25 cents to $44.55 after the wireless and sensing products maker reported revenues in the third-quarter ending in December advanced 5.6% from a year ago to $195.6 million.

Net income in the quarter soared 37.8% to $23.7 million or 63 cents per diluted share from $17.2 million or 45 cents per share in the same quarter last year.

Revlon Inc ((REV)) dropped 3.4% or $1.15 to $32.90 after the beauty and personal care products maker said revenues in the fourth-quarter ending in December surged 53.4% from a year ago to $800.7 million.

Net in the quarter swung to a loss of $36.5 million or 70 cents per diluted share from $24.8 million or 47 cents per share in the same quarter last year.