Vail Resorts Enjoys Strong Winter Sales, VeriFone Down on Weak Guidance

Mukesh Buch
10 Mar, 2017
New York City

Buckle net and revenues plunged. Genesco net increased but revenues dropped. Hibbett Sports profit tumbled 30%. VeriFone net swung to a loss and revenues plunged 11%. Vail Resorts net soared 28% on 21% jump in revenues. Zumiez net surged 38%.

[R]12:15 PM New York – Buckle net and revenues plunged. Genesco net increased but revenues dropped. Hibbett Sports profit tumbled 30%. VeriFone net swung to a loss and revenues plunged 11%. Vail Resorts net soared 28% on 21% jump in revenues. Zumiez net surged 38%.[/R]

Tollbooth Index increased 28.43 or 0.3% to 11,608.48.

Earnings Review

The Buckle, Inc ((BKE)) soared 4.9% or $85 cents to $18.15 after the casual apparel, footwear and accessories retailer reported net sales in the fourth-quarter ending on January 28 slumped 15.7% from a year ago to $280 million.

Comparable store sales in the quarter declined 16.1% and online sales plummeted 8.8% to $32.2 million.

Net income in the quarter plunged 33.7% to $36 million or 74 cents per diluted share from $54.3 million or $1.13 per share in the same quarter last year.

Genesco Inc ((GCO)) surged 12% or $6.80 to $63.20 after the footwear, apparel and accessories retailer said net sales in the fourth-quarter ending on January 28 dropped 5% from a year ago to $883 million.

Comparable store sales in the quarter were flat with an 8% increase in the Lids Sports Group, a 6% decrease in the Journeys Group, a 2% increase in the Schuh Group and a 1% decrease in the Johnston & Murphy Group.

Comparable sales for the company reflected a 2% decrease in same store sales but 12% jump in e-commerce sales.

Net income in the quarter advanced 4% to $46.5 million or $2.39 per diluted share from $44.7 million or $2.06 per share in the same quarter last year.

Genesco forecasted fiscal 2018 diluted earnings per share between $4.40 and $4.55.

Hibbett Sports, Inc ((HIBB)) soared 7.6% or $2.08 to $29.50 after the sporting goods retailer stated net sales in the fourth-quarter ending on January 28 rose 0.5% from a year ago to $246.9 million.

Comparable store sales in the quarter dropped 2.2%.

Net income in the quarter tumbled 30.4% to $12.1 million or 54 cents per diluted share from $17.4 million or 76 cents per share in the same quarter last year.

The retailer said it is on track to launch e-commerce site in the second-half of fiscal 2018.

In fiscal 2017, Hibbett Sports estimated comparable store sales to increase in the low-single digit range and diluted earnings per share in the range of $2.65 to $2.85.

VeriFone Systems Inc ((PAY)) declined 6.2% or $1.26 to $19.09 after the payment solution provider stated revenues in the first-quarter ending in January plunged 11.6% from a year ago to $454 million.

Net in the quarter swung to a loss of $16.6 million or 15 cents per diluted share from profit of $23.5 million or 21 cents per share in the same quarter last year.

Vail Resorts, Inc ((MTN)) jumped 7.1% or $12.81 to $193.25 after the ski resorts and luxury hotels operator reported revenues in the second-quarter ending in January surged 21% from a year ago to $725.2 million.

Net income in the quarter soared 27.6% to $149.2 million or $3.63 per diluted share from $116.9 million or $3.14 per share in the same quarter last year.

Zumiez Inc ((ZUMZ)) tumbled 14.5% or $3.05 to $17.95 after the specialty retailer said total net sales in the fourth-quarter ending on January 28 advanced 8.7% from a year ago to $263.6 million.

Comparable store sales in the quarter jumped 5.1%.

Net income in the quarter surged 38.3% to $18.2 million or 74 cents per diluted share from $13.1 million or 50 cents per share in the same quarter last year.