HD Supply Net Jumps; Genesco Tumbles

Mukesh Buch
05 Jun, 2018
New York City

Apergy net surged on 23% jump in revenues. Duluth Holdings plunged after net swung to a loss. G-III Apparel surged. Genesco tumbled on weak sales forecast. HD Supply jumped after net and revenues soared.

[R]12:20 PM New York City, New York – Apergy net surged on 23% jump in revenues. Duluth Holdings plunged after net swung to a loss. G-III Apparel surged. Genesco tumbled on weak sales forecast. HD Supply jumped after net and revenues soared.[/R]

Tollbooth Index jumped 216.61 1.4% to 15,872.75 but for the year-to-date soared 15.3%.

Earnings Review

Apergy Corporation ((APY)) edged down 0.4 cents to $40.89 after the engineered technology provider said revenues in the first-quarter ending in March soared 23% from a year ago to $283.9 million.

Net income in the quarter surged 85% to $24.5 million or 31 cents per diluted share from $13.3 million or 17 cents in the same quarter last year.

Ambarella Inc ((AMBA)) dropped 1.2% or 59 cents to $48.97 ahead of its first-quarter result after the market close today.

Duluth Holdings Inc ((DLTH)) plunged 6.1% or $1.17 to $17.96 after the apparel brand retailer stated net sales in the first-quarter ending in March surged 19.7% from a year ago to $100.2 million.

Net in the quarter swung to a loss of $0.7 million or 2 cents per diluted share from profit of $0.4 million or 1 cent in the same quarter last year.

The casual wear retailer forecasted fiscal 2018 revenue growth in the range of $555 million to $575 million and operating profit between $51 million to $54 million and diluted earnings per share in the range of 79 cents to 84 cents.

G-III Apparel Group Ltd ((GIII)) surged 7.9% or $3.37 to $46.25 after the apparel, footwear, and accessories retailer reported net sales in the first-quarter ending in April advanced 16% from a year ago to $611.7 million.

Net in the quarter swung to profit $9.9 million or 20 cents per diluted share from a loss of $10.4 million or 21 cents in the same quarter last year.

The retailer lifted fiscal 2019 net sales forecast of $2.97 billion from the earlier estimate of $2.94 billion and net income between $112 million and $117 million from the earlier estimate of $97 million and $102 million and diluted earnings per share in the range of $2.20 and $2.30 from the earlier estimate of $1.90 and $2.

Genesco Inc ((GCO)) tumbled 11.3% or $5.10 to $39.90 after the footwear, headwear, sports apparel, and accessories retailer said net sales in the first-quarter ending on May 5 rose 0.3% from a year ago to $645 million.

Comparable store sales in the quarter decreased 1% and direct sales soared 10% and direct-to-consumer sales surged 11%.

Net in the quarter swung to a loss of $2.3 million or 12 cents per diluted share from profit of $0.9 million or 5 cents in the same quarter last year.

Genesco forecasted fiscal 2019 comparable store sales in to be flat to increase of 2% and diluted earnings per share in the range of $3.05 to $3.45.

HD Supply Holdings Inc ((HDS)) jumped 2.7% or $1.12 to $42.56 after the industrial distributor reported revenues in the first-quarter ending on April 29 soared 14.2% from a year ago to $1.4 billion.

Net income in the quarter jumped 4.7% to $89 million or 48 cents per diluted share from $85 million or 42 cents in the same quarter last year.

The specialty construction material provider reaffirmed fiscal 2018 net sales forecast in the range of $5.82 billion and $5.94 billion and operating profit in the range of $832 million and $862 million and diluted earnings per share in the range of $3.11 and $3.27.