Salesforce Jumps on Quarterly Results; Chico's, Stein Mart, Tiffany Tumble

Mukesh Buch
28 Nov, 2018
New York City

Buckle beats earnings estimates. Chico''s plunges to 9-year low. Dick''s Sporting jumped on fiscal outlook. Smucker declined. Salesforce.com jumped on strong sales. Tiffany net declined.

[R]11:35 AM New York City, New York – Buckle beats earnings estimates. Chico''s plunges to 9-year low. Dick''s Sporting jumped on fiscal outlook. Smucker declined. Salesforce.com jumped on strong sales. Tiffany net declined.[/R]

Tollbooth Index jumped 108.10 or 0.7% to 14,983.44 but for the year-to-date soared 8.9%.

Earnings Review

The Buckle, Inc ((BKE)) declined 3.3% or 65 cents to $19.05 after the casual apparel, footwear, and accessories retailer said net sales in the third-quarter ending on November 3 dropped 4.1% from a year ago to $215.1 million.

Comparable retail sales in the quarter decreased 1.4% and online sales soared 8.8%.

Net income in the quarter rose 80.3% to $20.5 million or 42 cents per diluted share from $19.9 million or 41 cents in the same quarter last year.

Chico''s FAS, Inc ((CHS)) plunged 35.5% or $2.60 to $4.72 after the women''s clothing retailer said net sales in the third-quarter ending on November 3 declined 6.1% from a year ago to $499.9 million.

Comparable retail sales in the quarter plunged 6.8%.

Net income in the quarter dropped to $6.5 million or 5 cents per diluted share from $16.7 million or 13 cents in the same quarter last year.

Chico''s said comparable sales decline was driven by a decrease in transaction count and lower average dollar sale.

The retailer forecasted fiscal 2018 net sales to drop in high-single digit and comparable sales to fall in mid-single digit.

Dick''s Sporting Goods, Inc ((DKS)) jumped 3.6% or $1.29 to $37.62 after the sporting goods retailer reported net sales in the third-quarter ending on November 3 slumped 4.5% from a year ago to $1.9 billion.

Same store sales in the quarter declined 3.9% and online sales soared 8.8%.

Net income in the quarter rose 2.4% to $37.8 million or 39 cents per diluted share from $36.9 million or 35 cents in the same quarter last year.

The sporting goods retailer forecasted fiscal 2018 diluted earnings per share in the range of $3.15 to $3.25 and same store sales are currently expected to decline 3% to 4%.

J. M. Smucker Co ((SJM)) declined 5.5% or $5.98 to $103.20 after the branded food and beverage products maker reported net sales in the second-quarter ending in October jumped 5% from a year ago to $2 billion.

Net income in the quarter dropped 3% to $188.5 million or $1.66 per diluted share from $194.6 million or $1.71 in the same quarter last year.

Smucker lowered fiscal 2019 net sales forecast to about $7.9 billion from the earlier estimate of $8 billion and earnings per share to between $8 and $8.20 from the earlier estimate of between $8.40 and $8.65.

The food and beverage products maker also lowered fiscal 2019 free cash flow forecast in the range of $700 millions to $750 millions from the earlier estimate of $770 million to $820million and capital expenditures between $350 million and $370 million from the earlier estimate of $350 million to $370 million.

Salesforce.com Inc ((CRM)) soared 4.4% or $5.66 to $133.20 after the cloud-based software developer reported total revenues in the second-quarter ending in October surged 26% from a year ago to $3.4 billion.

Net income in the quarter fell 1.9% to $105 million or 13 cents per diluted share from $107 million or 14 cents in the same quarter last year.

Salesforce forecasted fiscal 2019 revenues growth of 26% or between $13.23 billion and $13.24 billion and diluted earnings per share between $1.06 and $1.07.

The cloud-based software developer forecasted fiscal 2019 revenues growth in the range of 20% to 21% or between $15.90 billion and $16 billion.

Stein Mart Inc ((SMRT)) plunged 20.8% or 38 cents to $1.45 after the discount department store operator stated net sales in the third-quarter ending on November 3 fell 2.2% from a year ago to $279.1 million.

Comparable store sales in the quarter advanced 1.4%.

Net loss in the quarter widened to $16.6 million or 36 cents per diluted share from $14.6 million or 31 cents in the same quarter last year.

The retailer said operating loss in the quarter dropped to $13.4 million from a loss of $23.9 million in the same period a year ago.

Tiffany & Co ((TIF)) plummeted 10.1% or $10.57 to $94.38 after the luxury jewelry and specialty retailer reported net sales in the third-quarter ending in October advanced 4% from a year ago to $1 billion.

Comparable store sales in the quarter edged up 2%.

Net income in the quarter declined 5.3% to $94.9 million or 77 cents per diluted share from $100.2 million or 80 cents in the same quarter last year.

The luxury retailer said selling, general and administrative expenses soared 15% to $502.9 million from $436 million in the same period a year ago.

Tiffany forecasted fiscal 2018 revenues growth in high-single-digit percentage and diluted earnings per share in the range of $4.65 to $4.80.