Advance Auto Parts, Coach, Dicks Sporting, Home Depot Tumble; TJX Jumps

Mukesh Buch
15 Aug, 2017
New York City

Advance Auto Parts tumbled after net declined 30%. Coach plunged on weak outlook. Dicks Sporting plummeted on lower earnings and sales outlook. Home Depot sales surged. TJX net fell but lifted fiscal outlook.

[R]3:15 PM New York – Advance Auto Parts tumbled after net declined 30%. Coach plunged on weak outlook. Dicks Sporting plummeted on lower earnings and sales outlook. Home Depot sales surged. TJX net fell but lifted fiscal outlook.[/R]

Tollbooth Index edged up 3.69 to 12,197.09.

Earnings Review

Advance Auto Parts, Inc ((AAP)) tumbled 24% or $26.24 to $83 after the automobile parts retailer said total sales in the second-quarter ending in June edged up 0.3% from a year ago to $2.3 billion.

Comparable store sales in the quarter were flat.

Net income in the quarter declined 30% to $87 million or $1.17 per diluted share from $124.6 million or $1.68 in the same quarter last year.

Coach Inc ((COH)) plunged 14.1% or $6.76 to $41.16 after the luxury accessories and lifestyle retailer reported total net sales in the fourth-quarter ending on July 1 slipped 1.7% from a year ago to $1.1 billion.

Net income in the quarter surged 81.1% to $151.7 million or 53 cents per diluted share from $81.5 million or 29 cents in the same quarter last year.

The retailer forecasted fiscal 2017 revenues to jump 30% or $5.8 billion to $5.9 billion and operating income growth between 22% and 25% and diluted earnings per share to increase 10% to 12% or $2.35-$2.40.

Dicks Sporting Goods Inc ((DKS)) plummeted 20.2% or $7.07 to $27.93 after the sporting goods retailer said net sales in the second-quarter ending on July 29 jumped 9.6% from a year ago to $2.2 billion.

Same store sales in the quarter increased 0.1%.

Net income in the quarter soared 22.9% to $112.4 million or $1.03 per diluted share from $91.4 million or 82 cents in the same quarter last year.

Dicks Sporting lowered earnings per share forecast in the range of 22 cents to 30 cents from 44 cents and same store sales to decline in the low single-digits compared to 5.2% increase in the same period a year ago.

The Home Depot, Inc ((HD)) declined 3.2% or $4.99 to $149.27 after the home improvement retailer reported sales in the second-quarter ending on July 30 soared 6.2% from a year ago to $28.1 billion.

Comparable store sales in the quarter jumped 6.3% and comparable sales in the U.S. stores soared 6.6%.

Net income in the quarter surged 12.5% to $2.7 billion or $2.25 per diluted share from $2.4 billion or $1.97 in the same quarter last year.

The retailer forecasted fiscal 2017 sales to increase approx 5.3% and comparable sales increase about 5.5% and raise diluted earnings per share growth of 13% to $7.29 from fiscal 2016.

TJX Companies Inc ((TJX)) gained 1.3% or 89 cents to $70.48 after the off-price apparel and home fashions retailer reported net sales in the second-quarter ending on July 29 advanced 6% from a year ago to $8.4 billion.

Comparable store sales in the quarter increased 3%.

Net income in the quarter fell 1.7% to $552.9 million or 85 cents per diluted share from $562.2 million or 84 cents in the same quarter last year.

TJX lifted third-quarter diluted earnings per share forecast in the range of 98 cents to $1 from reported 83 cents in the same period a year ago.

In the fiscal 2017, diluted earnings per share estimated to increase between 12% and 14% or $3.89 to $3.93 compared to the reported $3.40 in the fiscal 2016.