Argan, G-III Net Soar; Kroger Net Tumbles, H&R Block Net Loss Widens

Thomas Buckingham
28 Jan, 2019
New York City

Argan third-quarter net surged 88% to $32 million. Children's Place third-quarter jumped 13% to $50 million. G-III Apparel third-quarter net surged 15% to $94 million. H&R Block second-quarter net loss widened to $171 million. The Kroger third-quarter net plunged 20% to $317 million.

[R]11:45 PM New York – Argan third-quarter net surged 88% to $32 million. Children's Place third-quarter jumped 13% to $50 million. G-III Apparel third-quarter net surged 15% to $94 million. H&R Block second-quarter net loss widened to $171 million. The Kroger third-quarter net plunged 20% to $317 million.[/R]

Tollbooth Index plunged 635.18 or 4.1% to 14,828.94 but for the year-to-date soared 7.8%.

Earnings Review   

Argan Inc, the engineering construction services provider said revenues in the third-quarter ending in October plunged 50% from a year ago to $116.5 million.

Net income in the quarter surged 88% to $32.4 million or $2.07 per diluted share from $17.2 million or $1.09 in the same quarter last year.

At Home Group Inc, the home decor products retailer stated net sales revenues in the third-quarter ending on October 27 soared 25.5% from a year ago to $267.2 million.

Comparable store sales in the quarter jumped 5.2%.

Net income in the quarter soared to $11.1 million or 17 cents per diluted share from $2.4 million or 4 cents in the same quarter last year.

The retailer forecasted fiscal 2019 net sales growth between 22% to 23% or $1.159 billion to $1.164 billion and net income in the range of $48.7 million to $50.7 million and diluted earnings per share in the range of 73 cents to 76 cents.

Children's Place Inc, the kid’s specialty retailer said net sales in the third-quarter ending on November 3 advanced 6.6% from a year ago to $522.5 million.

Same store sales in the quarter soared 9.5%.

Net income in the quarter jumped 13.2% to $49.9 million or $3.03 per diluted share from $44.1 million or $2.44 in the same quarter last year.

Children's Place lowered fiscal 2018 diluted earnings per share forecast to a range $7.69 to $7.79 from the earlier estimate of $8.09 to $8.29 and net sales in the range of $1.955 to $1.960 billion.

G-III Apparel Group LTD, the fashion apparel maker stated net sales in the third-quarter ending in October jumped 4.7% from a year ago to $1.1 billion.

Net income in the quarter surged 15.2% to $94 million or $1.86 per diluted share from $81.6 million or $1.65 in the same quarter last year.

G-III lifted fiscal 2019 net sales forecast of about $3.08 billion from the earlier estimate of $3.06 billion and net income between $132 million and $137 million from the earlier estimate of $125 million and $130 million and diluted earnings per share between $2.59 and $2.69 from the earlier estimate of $2.45 and $2.55.

H&R Block Inc, the tax preparation services provider reported revenues in the second-quarter ending in October jumped 5.7% from a year ago to $148.9 million.

Net loss in the quarter widened to $171 million or 86 cents per diluted share from $148 million or 74 cents in the same quarter last year.

The Kroger Company, the supermarkets operator reported total sales in the third-quarter ending on November 10 slid 0.3% from a year ago to $27.7 billion.

Net income in the quarter plunged 20.2% to $317 million or 39 cents per diluted share from $397 million or 44 cents in the same quarter last year.

Kroger lowered fiscal 2018 diluted earnings per share forecast to between $3.80 and $3.95 from the earlier estimate of $3.88 to $4.03.

Verint Systems Inc, the software and hardware products provider said revenues in the second-quarter ending in October soared 8.3% from a year ago to $304 million.

Net income in the quarter jumped to $18.9 million or 29 cents per diluted share from $2.5 million or 4 cents in the same quarter last year.