Movers: Abercrombie & Fitch, Best Buy, Dell, Dick's Sporting. Dollar Tree, Medtronic, Zoom Video

Scott Peters
22 Nov, 2022
New York City

Abercrombie & Fitch soared 17.2% to $21.40 after the apparel retailer reported stronger-than-expected sales.

The parent of Hollister said third quarter sales declined 3% to $880 million and swung to a net loss of $2.2 million or 4 cents a share from $47 million or 77 cents a year ago.

Best Buy increased 11.4% to $78.82 after the electronics retailer reported a less-than-expected decline in sales.

The retailer said third quarter sales fell 11% to $10.59 billion and net income declined to $277 million or $1.22 a share from $499 million or $2 a share a year ago.

Dell Technologies increased 5.5% to $43.39 after the company reported quarterly results ahead-of-expectations. 

Dell said third quarter revenue fell 6% to $24.7 billion and net income plunged 93% to $241 million or 33 cents a share.

In the quarter, services sales increased 6% to $5.8 billion but sales of hardware declined 10% to $18.9 billion from a year ago. 

Dick's Sporting Goods rose 7.0% to $114.46 after the retailer lifted its same store outlook for the final quarter of this year.

Dick's said third quarter sales rose 7.7% to $3 billion and net income dropped 28% to $228 million or $2.45 a share from $317 million or $2.78 a year ago.

Dollar Tree declined 8.6% to $150.94 after the deep discount retailer reported better-than-expected sales and earnings. 

The retailer said third quarter sales rose 8.1% to $6.9 billion and net income rose 23% to $267 million or $1.20 a share from $216 million or 96 cents a year ago.

Consolidated net sales for the year are now expected in the range of $28.14 billion to $28.28  billion, compared to the previous outlook range of $27.85 billion to $28.10 billion.

Diluted earnings per share for fiscal 2022 are expected to be in the lower half of the  company