Market Updates

Lee Enterprises Net Surges; Fred's, KalVista Pharma Net Loss Narrows

Mukesh Buch
31 Jan, 2019
New York

    Fred's third-quarter net loss narrowed to $27 million. KalVista Pharmaceuticals second-quarter net loss narrowed but revenues surged. Lee Enterprises to fourth-quarter net surged 28% to $4 million. Vince Holding third-quarter net soared 94% to $7 million.

[R]11:45 PM New York – Fred's third-quarter net loss narrowed to $27 million. KalVista Pharmaceuticals second-quarter net loss narrowed but revenues surged. Lee Enterprises to fourth-quarter net surged 28% to $4 million. Vince Holding third-quarter net soared 94% to $7 million.[/R]

Tollbooth Index dropped 137.44 or 0.9% to 14,731.85 but for the year-to-date soared 7.1%.

Earnings Review

Fred's, Inc ((FRED)), the pharmacy, discount stores operator said net sales in the third-quarter ending on November 3 fell 5.5% from a year ago to $306.4 million.

Comparable sales in the quarter plunged 5.3%.

Net loss in the quarter narrowed to $27.4 million or 83 cents per diluted share from $51.8 million or $1.35 in the same quarter last year.

KalVista Pharmaceuticals Inc ((KALV)), the small molecule protease inhibitors provider said second-quarter ending in October surged from a year ago to $5.6 million.

Net loss in the quarter narrowed to $3.3 million or 22 cents per diluted share from $5 million or 50 cents in the same quarter last year.

Lee Enterprises Inc ((LEE)), the media publisher stated revenues in the fourth-quarter ending in September fell 0.3% from a year ago to $139.7 million.

Net income in the quarter surged 28.1% to $4.1 million or 7 cents per diluted share from $3.2 billion or 6 cents in the same quarter last year.

Vince Holding Corp ((VNCE)), the luxury apparel and accessories maker said net sales in the third-quarter ending on November 3 jumped 5.6% from a year ago to $83.5 million.

Comparable sales in the quarter surged 14.1% and direct-to-consumer sales soared 17.1%.

Net income in the quarter jumped 94.3% to $6.8 million or 57 cents per diluted share from $3.5 million or 41 cents in the same quarter last year.

The luxury apparel maker forecasted net sales between $277 million and $280 million and operating income in the range of $5 million to $7 million.

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Earnings

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