Costco Comparable Store Sales Surge, Pier 1 Net Loss Widens

Mukesh Buch
05 Oct, 2018
New York City

Costco Wholesale net jumped 9% on strong revenues. LeMaitre Vascular net declined on lowered fiscal outlook. Pier 1 Imports net loss widened. SMART Global reported better-than-expected results.

[R]12:40 PM New York City, New York – Costco Wholesale net jumped 9% on strong revenues. LeMaitre Vascular net declined on lowered fiscal outlook. Pier 1 Imports net loss widened. SMART Global reported better-than-expected results.[/R]

Tollbooth Index declined 272.08 or 1.7% to 16,113.73 but for the year-to-date soared 17.1%.

Earnings Review

Costco Wholesale Corporation ((COST)) dropped 2.9% or $6.80 to $224.88 after the warehouse clubs operator reported net sales in the fourth-quarter ending on September 2 soared 5% from a year ago to $43.4 million.

Comparable store sales in the quarter surged 9.5% and online sales advanced 26.2%.

Net income in the quarter jumped 8.8% to $1 billion or $2.36 per diluted share from $919 million or $2.08 in the same quarter last year.

LeMaitre Vascular Inc ((LMAT)) tumbled 17.9% or $6.47 to $29.50 after the medical devices maker stated revenues in the third-quarter ending in September fell 3% from a year ago to $24.2 million.

Net income in the quarter declined 14% to $4.3 million or 21 cents per diluted share from $5 million or 25 cents in the same quarter last year.

The medical devices maker lowered fiscal 2018 revenues forecast to between $105.3 million and $107.9 million from the earlier estimate of $102.8 million to $103.6 million and diluted earnings per share in the range of $1.04 to $1.11 from the earlier estimate of $1.01 to $1.03.

Pier 1 Imports Inc ((PIR)) edged up to $1.50 after the home-ware, gifts and seasonal products retailer said net sales in the second-quarter ending on September 1 declined 12.8% from a year ago to $355.3 million.

Comparable store sales in the quarter plunged 11.4%.

Net loss in the quarter widened to $51.1 million or 63 cents per diluted share from $7.8 million or 10 cents in the same quarter last year.

Park Electrochemical Corp ((PKE)) slipped 1.1% or 22 cents to $19.32 after the advanced composite materials maker stated net sales in the second-quarter ending on August 26 fell 1.3% from a year ago to $11.2 million.

Net income in the quarter surged to $2.7 million or 13 cents per diluted share from $0.5 million or 3 cents in the same quarter last year.

SMART Global Holdings Inc ((SGH)) surged 27.4% or $7.43 to $34.60 after the specialty memory maker said revenues in the fourth-quarter ending in August surged 68% from a year ago to $373.9 million.

Net in the quarter swung to profit $29.7 million or $1.28 per diluted share from a loss of $10.2 million or 48 cents in the same quarter last year.

The memory maker said gross profit in the quarter soared 72.3% to $82.7 million and operating profit more than doubled to $45 million from a year ago period.

SMART Global forecasted fiscal 2019 first-quarter of about $375 million and gross margin of about 22% and diluted earnings per share in the range of $1.49 to $1.541.