Ascena Retail, DSW Surge on Outlook, Casey's Gen Reported Strong Results

Mukesh Buch
11 Dec, 2018
New York City

Ascena Retail net plunged on flat revenues. American Water Works reaffirmed fiscal 2018 forecast. Casey''s General reported better-than-expected results. DSW net plunged but lifted fiscal outlook. Enbridge reaffirmed fiscal outlook. Synnex revised fiscal outlook higher.

[R]1:05 PM New York City, New York – Ascena Retail net plunged on flat revenues. American Water Works reaffirmed fiscal 2018 forecast. Casey''s General reported better-than-expected results. DSW net plunged but lifted fiscal outlook. Enbridge reaffirmed fiscal outlook. Synnex revised fiscal outlook higher.[/R]

Tollbooth Index soared 260.35 or 1.8% to 14,842.44 but for the year-to-date soared 7.9%.

Earnings Review

Ascena Retail Group Inc ((ASNA)) surged 24.9% or 68 cents to $3.41 after the women''s apparels retailer said revenues in the first-quarter ending on November 3 were flat from a year ago to $1.6 billion.

Comparable store sales in the quarter advanced 3%.

Net income in the quarter plunged 14% to $6 million from $7 million and diluted earnings per share were flat at 3 cents in the same quarter last year.

The retailer forecasted fiscal 2018 net sales between $1.68 billion and $1.71 billion and comparable sales to increase between 2% and 4%

American Water Works Company Inc ((AWK)) rose 39 cents to $97.85 after the public utility provider reaffirmed fiscal 2018 diluted earnings per share in the range of $3.19 to $3.24.

The water and wastewater services provider forecasted fiscal 2019 diluted earnings per share in the range of $3.54 to $3.64.

Casey''s General Stores Inc ((CASY)) jumped 4.5% or $5.39 to $125.08 after the convenience stores operator reported total revenues in the second-quarter ending in October soared 13.6% from a year ago to $2.5 billion.

In the quarter, same store sales in fuel segment dropped 1.1% and same store sales in grocery and other merchandise jumped 2.7% and prepared food and fountain advanced 2.2%.

Net income in the quarter surged 36.2% to $66.6 million or $1.80 per diluted share from $48.9 million or $1.28 in the same quarter last year.

DSW Inc ((DSW)) soared 10% or $2.08 to $25.21 after the footwear and fashion accessories retailer stated revenues in the third-quarter ending on November 3 jumped 17.2% from a year ago to $833 million.

Comparable store sales in the quarter surged 7.3%.

Net income in the quarter plunged 14% to $39.3 million or 48 cents per diluted share from $22.9 million or 22 cents in the same quarter last year.

The footwear retailer lifted fiscal 2018 revenues growth forecast in the range of 12% to 14% from the earlier estimate of 6% to 9% and comparable sales growth mid- to high-single digit range from the earlier estimate of low- to mid-single digit range.

Enbridge Inc ((ENB)) increased 1.3% or 42 cents to $31.82 after the energy transportation provider forecasted fiscal 2018 diluted earnings per share in the range of $4.15 to $4.45.

Enbridge reaffirmed fiscal 2019 and fiscal 2020 diluted earnings per share forecast in the range of $4.45 per share and $5.

Synnex Corp ((SNX)) gained 1.2% or 94 cents to $81.11 after the business process services provider lifted fourth quarter revenues forecast between $5.5 billion and $5.6 billion from the earlier estimate of $5.2 billion to $5.4 billion and diluted earnings per share in the range of $3.20 to $3.30 from the earlier estimate of $2.90 to $3.10.