American Eagle Plunges 11%, Hewlett Packard Net Jumps

Mukesh Buch
29 Aug, 2018
New York City

American Eagle Outfitters plunged on disappointed outlook. Dick''s Sporting said fiscal 2018 same store sales are likely to decline. Hewlett Packard profit soared 59%. H&R Block net loss widened but revenues jumped. Movado net soared 65%.

[R]12:45 PM New York City, New York – American Eagle Outfitters plunged on disappointed outlook. Dick''s Sporting said fiscal 2018 same store sales are likely to decline. Hewlett Packard profit soared 59%. H&R Block net loss widened but revenues jumped. Movado net soared 65%.[/R]

Tollbooth Index jumped 115.90 or 0.7% to 16,537.27 but for the year-to-date soared 20.2%.

Earnings Review

American Eagle Outfitters Inc ((AEO)) plunged 11.6% or $3.17 to $24.11 after the apparel and accessory retailer reported total revenues in the second-quarter ending on August 4 soared 14% from a year ago to $965 million.

Comparable sales in the quarter jumped 9%.

Net income in the quarter surged 184% to $60.3 million or 34 cents per diluted share from $21.2 million or 12 cents in the same quarter last year.

Americal Eagle reported lower-than-expected sales in Aerie line of lingerie of 27%.

The retailer forecasted fiscal third-quarter diluted earnings per share between 45 cents to 47 cents, excludes potential asset impairment and restructuring charges.

The Brown-Forman Corp ((BFA)) gained 1.6% or 84 cents to $53.16 after the spirits and wine maker said net sales in the first-quarter ending in July rose 6% from a year ago to $766 million.

Net income in the quarter soared 12% to $200 million or 41 cents per diluted share from $178 million or 37 cents in the same quarter last year.

The spirits maker forecasted fiscal 2019 net sales growth between 6% and 7% but lowered diluted earnings per share forecast between $1.65 and $1.75 from the earlier estimate of $1.75 - $1.85.

Chico''s FAS Inc ((CHS)) declined 7.7% or 68 cents to $8.15 after the women''s apparel and accessories retailer said net sales in the second-quarter ending on August 4 slumped 5.9% from a year ago to $544.7 million.

Comparable sales in the quarter dropped 3.2%.

Net income in the quarter plunged 26% to $16.8 million or 13 cents per diluted share from $22.7 million or 18 cents in the same quarter last year.

Chico''s reaffirmed fiscal 2018 net sales forecast decline of mid-single digit and comparable sales to fall low-to-mid single digit.

Dick''s Sporting Goods, Inc ((DKS)) tumbled 7.3% or $2.64 to $33.75 after the sporting goods retailer reported net sales in the second-quarter ending on August 4 rose 1% from a year ago to $2.2 billion.

Same Store sales in the quarter declined 4%.

Net income in the quarter jumped 6.2% to $119.4 million or $1.20 per diluted share from $112.4 million or $1.03 in the same quarter last year.

Dick''s Sporting forecasted fiscal 2018 same store sales to decline between 3% and 4% from fall of 0.3% in 2017 and diluted earnings per share in the range of $3.02 to $3.20.

Express, Inc ((EXPR)) plummeted 5.2% or 52 cents to $9.47 after the specialty apparel retailer said net sales in the second-quarter ending on August 4 grew 3% from a year ago to $493.6 million.

Comparable sales in the quarter rose 1% and online sales surged 37% to $123.9 million from a year ago period.

Net in the quarter swung to profit $2.2 million or 3 cents per diluted share from net loss of $11.9 million or 15 cents in the same quarter last year.

The specialty retailer forecasted fiscal 2018 comparable sales in the range of flat to an increase of 1% and net income between $32.5 million and $36.5 million and diluted earnings per share in the range of 43 cents to 49 cents and.

Hewlett Packard Enterprise Company ((HPE)) jumped 2.5% or 41 cents to $17.14 after the information technology provider reported revenues in the third-quarter ending in July jumped 4% from a year ago to $7.8 billion.

Net income in the quarter soared 58.6% to $0.5 billion or 29 cents per diluted share from $0.3 billion or 17 cents in the same quarter last year.

Hewlett Packard said revenues in the Hybrid IT business advanced 3% to $6.2 billion and revenues in the intelligent Edge segment surged 10% to $785 million and revenues in the financial services increased 3% to $928 million.

H&R Block Inc ((HRB)) gained 1.7% or 45 cents to $26.56 after the tax return preparation services provider said revenues in the first-quarter ending in July soared 5% from a year ago to $145.2 million.

Net loss in the quarter widened to $152.7 million or 74 cents per diluted share from $130.6 million or 63 cents in the same quarter last year.

Movado Group, Inc ((MOV)) tumbled 14.9% or $7.40 to $42 after the watchmaker said net sales in the second-quarter ending in July surged 11.9% from a year ago to $144.1 million.

Net income in the quarter jumped 65.4% to $9.1 million or 39 cents per diluted share from $5.5 million or 24 cents in the same quarter last year.

Movado forecasted fiscal 2019 net sales in the range of $660 million to $675 million and net income in the range of $58 million to $59.7 million and diluted earnings per share between $2.45 and $2.55.