Market Updates

Casey's General Stores Net Soars; Ascena Retail, DSW Net Plunge

Mukesh Buch
29 Jan, 2019
New York

    Ascena Retail first-quarter net plunged 14% to $6 million. Casey's General Stores second-quarter net surged 36% to $67 million. DSW third-quarter net plunged 14% to $39 million.

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)), 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)), 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)), 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)), 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)), 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)), 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.

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Earnings

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