Best Buy Same Stores Sales Jump 6%, Heico Lifts Outlook

Mukesh Buch
28 Aug, 2018
New York City

Best Buy declined despite strong results. BJ''s reported strong sales. DSW surged after revenues soared 16%. Heico reported record net sales.Tiffany said sales in China soared.

[R]11:55 PM New York City, New York – Best Buy declined despite strong results. BJ''s reported strong sales. DSW surged after revenues soared 16%. Heico reported record net sales.Tiffany said sales in China soared.[/R]

Tollbooth Index increased 38.74 or 0.2% to 16,421.37 but for the year-to-date soared 19.3%.

Earnings Review

Best Buy Co., Inc ((BBY)) declined 6.6% or $5.42 to $76.24 after the consumer electronics retailer reported revenues in the second-quarter ending on July 29 advanced 5.6% from a year ago to $8.6 billion.

Comparable sales in the quarter soared 6% and domestic online revenue jumped 10.1% to $1.21 billion, primarily after higher conversion rates and increased traffic.

Net income in the quarter surged 16.7% to $244 million or 86 cents per diluted share from $209 million or 67 cents in the same quarter last year.

Best Buy forecasted fiscal 2019 revenues between $42.3 billion to $42.7 billion.

The consumer electronics retailer lifted fiscal 2019 comparable sales growth forecast in the range of 3.5% to 4.5% from the earlier estimate of flat to growth of 2% and diluted earnings per share between $4.95 and $5.10 from the earlier estimate of $4.80 to $5.

BJ''s Wholesale Club Holdings, Inc ((BJ)) slumped 4.1% or $1.1 to $26.02 after the warehouse club and gas station operator stated net sales in the second-quarter ending on August 4 increased 4.3% from a year ago to $3.2 billion.

Comparable sales in the quarter jumped 5%.

Net in the quarter swung to a loss of $5.6 million or 5 cents per diluted share from profit of $19.7 million or 22 cents in the same quarter last year.

BJ''s forecasted fiscal 2019 net sales in the range of $12.6 billion to $12.7 billion and comparable store sales excluding gasoline, between 1.8% and 2.1% and net income to be in the range of $101 million to $111 million and diluted earnings per share between 83 cents and 91 cents.

DSW Inc ((DSW)) surged 22.9% or $6.25 to $33.45 after the footwear and fashion accessories retailer said total revenues in the second-quarter ending on July 29 soared 16.4% from a year ago to $795.3 million.

Comparable sales in the quarter jumped 9.7%.

Net in the quarter swung to a loss of $38.4 million or 48 cents per diluted share from profit of $28.7 million or 36 cents in the same quarter last year.

The branded shoes and fashion accessories retailer lifted fiscal 2018 revenues growth forecast in the range of 6% to 9% from the earlier estimate of decrease 1% to 3%.

DSW lifted comparable sales growth forecast between low- to mid-single digit range from the earlier estimate of low-single digit range and diluted earnings per share between $1.60 and $1.75 from the earlier estimate of $1.52 to $1.67.

Heico Corporation ((HEI)) soared 8.3% or $6.67 to $87.43 after the jet engine and aircraft components maker reported revenues in the third-quarter ending in July soared 19% from a year ago to $465.8 million.

Net income in the quarter jumped 47% to $67.1 million or 49 cents per diluted share from $45.7 million or 34 cents in the same quarter last year.

The aircraft components maker lifted net sales growth forecast to between 15% and 16% from the earlier estimate of 13% to 14% and net income growth in the range of 35% to 37% from the earlier estimate of 33% to 35%.

The Hain Celestial Group, Inc ((HAIN)) slumped 3.8% or $1.10 to $27.51 after the foods and personal care products maker said revenues in the fourth-quarter ending in June increased 3% from a year ago to $619.6 million.

Net in the quarter swung to a loss of $69.9 million or 63 cents per diluted share from profit of $0.3 million or 2 cents in the same quarter last year.

The personal care products maker forecasted fiscal 2019 net sales in the range of $2.5 billion to $2.56 billion, an increase of between 2% and 4% and operating profit between $275 million to $300 million, an increase in the range of 7% to 17%,

The food products maker estimated diluted earnings per share between $1.21 and $1.38, an increase of 4% to 19% from a year ago period.

Tiffany & Co ((TIF)) gained 82 cents to $130.60 after the luxury jewelry and specialty retailer reported net sales in the second-quarter ending in July jumped 12% from a year ago to $1.1 billion.

Comparable sales in the quarter advanced 8%.

Net income in the quarter surged 26% to $145 million or $1.17 per diluted share from $115 million or 92 cents in the same quarter last year.

Tiffany lifted fiscal 2018 net sales forecast to high-single-digit percentage and diluted earnings per share between $4.65 and $4.80 from the earlier estimate of $4.50 to $4.70.