Movers: Costco, Chewy, Crowdstrike, Five Below, Okta, Salesforce, Signet Jewelers, Victoria's Secret

Scott Peters
31 Aug, 2023
New York City

Salesforce Inc jumped 4.9% to $226.0 after customer management software developer reported better-than-expected sales and earnings. 

Revenue increased to$8.6 billion and adjusted diluted earnings per share of $2.12. 

Costco Wholesale Corp increased 0.3% to $544.18 after the membership discount wholesale club said August sales increased 5% to $18.42 billion. 

Five Below Inc declined 4.5% to $174.88 after the deep discount retailer forecasted weak third quarter results. 

The retailer estimated revenue to fall between $715 million and $730 million and earnings per share between 17 cents and 25 cents, sharply lower than estimates set by some analysts. 

Victoria's Secret & Company declined 4.9% to $17.06 after the lingerie retailer reported disappointing second quarter results. 

The specialty retailer reported revenue of $1.43 billion and adjusted earnings per share of 26 cents. 

Chewy Inc dropped 15.1% to $23.12 after the online pet food retailer said second quarter sales of $2.78 billion and diluted earnings per share of 4 cents. 

The company said in a conference call with investors that active customers declined 0.6% to 20.4 million and customers are trading down amid high inflation.

Net sales for active customer increased 14.7% to $530 and auto customers sales increased 240 basis points to 75.5%. 

Despite the customers substituting lower priced treats for pets, gross margin increased 20 basis points to 28.3%, indicating prudent promotional activities. 

Net sales increased 14.3% to $2.78 billion and net income declined to $18.9 million from $22.3 million and diluted earnings per share fell to 4 cents from 5 cents a year ago. 

Crowdstrike Holdings Inc jumped 7.6% to $160.21 after the cybersecurity company reported better-than-expected revenue and earnings. 

The company reported second quarter adjusted earnings per share of 74 cents on revenue of $734 million. 

Signet Jewelers Ltd increased 5.3% to $75.27 after the retailer reported better-than-expected quarterly results. 

Sales in the second quarter ending in July declined 8.1% to $1.6 billion and same store sales plunged 12% from a year ago. 

Same store sales in North America declined 12.2% and nonstore sales, which includes online sales, rose 5.2%, resulting in a decline of 7.1% to $1.5 billion. 

Net income attributable to common shareholders plunged to $66.5 million from $136.8 million and diluted earnings per share fell to $1.38 from $2.56 a year ago. 

The retailer guided third quarter sales to decline to between $1.36 billion and $1.41 billion and full-year revenue between $7.1 billion and $7.3 billion and diluted earnings per share between $9.55 and $10.64.