Abercrombie, Autodesk Surge on Earnings Surprise; Dollar Tree, Ross Plunge

Mukesh Buch
07 Mar, 2018
New York City

Abercrombie & Fitch reported stronger-than-expected results. Autodesk surged on flat profit and higher revenues. Dollar Tree tumbled despite profit and revenues jumped. Ross Stores declined on weak outlook. Urban Outfitters net income was hit by the U.S. tax law revisions.

[R]11:45 AM New York City, New York – Abercrombie & Fitch reported stronger-than-expected results. Autodesk surged on flat profit and higher revenues. Dollar Tree tumbled despite profit and revenues jumped. Ross Stores declined on weak outlook. Urban Outfitters net income was hit by the U.S. tax law revisions.[/R]

Tollbooth Index declined 141.67 or 0.9% to 14,374.70.

Earnings Review

Abercrombie & Fitch Co ((ANF)) soared 13% or $2.78 to $24.12 after the specialty retailer said net sales in the fourth-quarter ending on February 3 soared 15% from a year ago to $1.2 billion.

Comparable store sales in the quarter jumped 9%.

Net income in the quarter surged 52% to $74.2 million or $1.05 per diluted share from $48.8 million or 71 cents in the same quarter last year.

The specialty retailer estimated fiscal 2018 net sales to be up low-single digits and comparable sales to be up low-single digits

Autodesk, Inc ((ADSK)) surged $12.5 or $15 to $134.83 after the architecture, engineering and construction software developer reported total revenues in the fourth-quarter ending in January soared 16% from a year ago to $553.8 million.

Net loss in the quarter was nearly flat at $173.5 million or 79 cent per diluted share from $173.4 million or 78 cents in the same quarter last year.

The software developer lowered first-quarter revenues forecast in the range of $550 million to $560 million from the earlier estimate of $565 million to $575 million and increased diluted loss per share forecast between 44 cents and 41 cents from the earlier estimate of 34 cents to 31 cents.

Dollar Tree, Inc ((DLTR)) tumbled 15.7% or $16.32 to $88.04 after the discount stores operator said net sales in the fourth-quarter ending on February 3 surged 12.9% from a year ago to $6.4 billion.

Same store sales in the quarter advanced 2.4% and same store sales in the Dollar Tree banner increased 3.8% and same store sales in the Family Dollar banner rose 1%.

Net income in the quarter surged 52% to $1.04 billion or $4.37 per diluted share from $321.8 million or $1.36 in the same quarter last year.

Fiscal 2018 net sales are estimated in the range of $22.70 billion to $23.12 billion and same store sales in the low single-digit increase and diluted earnings per share between $5.25 and $5.60.

Ross Stores, Inc ((ROST)) declined 4.8% or $3.85 to $76.63 after the off-price retailer said sales in the fourth-quarter ending on February 3 jumped 16% from a year ago to $4.1 billion.

Comparable store sales in the quarter advanced 5%.

Net income in the quarter soared 49.8% to $450.7 million or $1.19 per diluted share from $300.6 million or 77 cents in the same quarter last year.

The apparel and home fashions retailer forecasted same store sales to grow 1% to 2% and the retailer plans to open about 100 new stores and earnings per share are in the range of $3.86 to $4.03 from $3.55 in the same period a year ago.

Urban Outfitters, Inc ((URBN)) jumped 2.9% or $1.06 to $38.04 after the lifestyle specialty retailer said net sales in the fourth-quarter ending in January advanced 5.7% from a year ago to $1.1 billion.

Comparable store sales in the quarter increased 4%.

Net income in the quarter tumbled to $1.3 million or 1 cent per diluted share from $64.3 million or 55 cents in the same quarter last year.