Adobe Earnings Surge, Tiffany Drops on Disappointing Results

Mukesh Buch
16 Mar, 2018
New York City

Adobe Systems reported strong net and revenues. The Buckle net surged but comparable sales in February declined. Hibbett Sports declined on weak forecast. Jabil Inc surged on higher profit and revenues. Tiffany slumped on disappointing fourth-quarter results.

[R]11:45 PM New York City, New York – Adobe Systems reported strong net and revenues. The Buckle net surged but comparable sales in February declined. Hibbett Sports declined on weak forecast. Jabil Inc surged on higher profit and revenues. Tiffany slumped on disappointing fourth-quarter results.[/R]

Tollbooth Index increased 15.29 to 14,727.76.

Adobe Systems Inc ((ADBE)) jumped 2.8% or $6.06 to $224.93 after the enterprise software maker reported revenues in the first-quarter ending on March 2 surged 24% from a year ago to $2.1 billion.

Net income in the quarter soared 46.4% to $583.1 million or $1.17 per diluted share from $398.4 million or 80 cents in the same quarter last year.

The Buckle, Inc ((BKE)) soared 5.6% or $1.02 to $19.25 after the casual apparel, footwear and accessories retailer said net sales in the fourth-quarter ending on February 3 rose 0.4% from a year ago to $281.2 million.

Comparable store sales in the quarter dropped 3.2%.

Net income in the quarter surged 16.7% to $42 million or 87 cents per diluted share from $36 million or 75 cents in the same quarter last year.

Separately, the retailer said comparable store net sales in the four-week ending on March 3 declined 5.3% and net sales in the month increased 2% to $64 million.

Hibbett Sports Inc ((HIBB)) declined 3.2% or 73 cents to $21.77 after the athletic specialty stores operator stated net sales in the fourth-quarter ending on February 3 jumped 8% from a year ago to $266.7 million.

Comparable store sales in the quarter increased 1.6%.

Net income in the quarter plunged 19.8% to $9.7 million or 51 cents per diluted share from $12.1 million or 54 cents in the same quarter last year.

The retailer forecasted fiscal 2019 comparable store sales in the range of 1% decline to 2% and increase diluted earnings per share in the range of $1.65 to $1.95.

Jabil Inc., formerly Jabil Circuit, Inc ((JBL)) surged 10% or $2.81 to $31.25 after the electronic chip maker reported revenue in the second-quarter ending in February soared 17.8% from a year ago to $5.3 billion.

Net income in the quarter jumped 80.2% to $37.3 million or 21 cents per diluted share from $20.7 million or 11 cents in the same quarter last year.

Kirkland''s Inc, the home decorations and furniture retailer said net sales in the fourth-quarter ending on February 3 soared 10.5% from a year ago to $224.6 million.

Comparable store sales in the quarter advanced 2%.

Net income in the quarter declined 11% to $12.9 million or 79 cents per diluted share from $14.5 million or 90 cents in the same quarter last year.

Tiffany & Co ((TIF)) slumped 3.9% or $4.04 to $98.76 after the jewelry and watch retailers reported net sales in the fourth-quarter ending on February 3 advanced 4% from a year ago to $4.2 billion.

Comparable store sales in the quarter rose 1%.

Net income in the quarter tumbled 61% to $62 million or 50 cents per diluted share from $158 million or $1.2 in the same quarter last year.

Tiffany forecasted fiscal 2018 net sales to increase by a mid-single-digit percentage and comparable sales growth of low-to-mid-single-digit and diluted earnings per share in the range of $4.25 to $4.45.