S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Abercrombie & Fitch, Fred's Net Loss Widen; TiVo Net Soars


Author: Mukesh Buch
ticker.com
Last Update: 3:38 AM ET August 30 2016

12:00 PM New York Abercrombie & Fitch second-quarter net loss widened to $13 million. DSW second-quarter net declined 34% to $25 million. Fred''s second-quarter net loss widened to $7 million. G-III second-quarter net swung to a loss of $1.3 million. TiVo second-quarter net soared 61% to $13 million.

Tollbooth Index slipped 51.86 or 0.5% to 11,005.58.

Earnings Review

Abercrombie & Fitch Co (ANF), the specialty retailer reported revenues in the second-quarter ending in July dropped 4% from a year ago at $783.2 million.

Comparable store sales in the quarter slumped 4%.

Net loss in the quarter widened to $13.1 million or 19 cents per diluted share compared to the $0.8 million or 1 cent per share from the same quarter last year.

Bank of Nova Scotia (BNS), the Canada-based banking and financial services provider said revenues in the third-quarter ending in July jumped 8.5% from a year ago at $6.6 billion.

Net income in the quarter advanced 5.1% to $1.86 billion or $1.54 per diluted share compared to the $1.77 million or $1.45 per share from the same quarter last year.

DSW Inc (DSW), the footwear retailer stated sales in the second-quarter ending in July increased 5.1% from a year ago at $659 million.

Comparable store sales in the quarter decreased 1.2%.

Net income in the quarter declined 33.5% to $25 million or 30 cents per diluted share compared to the $37.6 million or 42 cents per share from the same quarter last year.

The footwear retailer reaffirmed earnings per share estimate in the year between $1.32 and $1.42.

Fred''s, Inc (FRED), the discount stores operator said total sales in the second-quarter ending in July fell 3% from a year ago at $529.5 million.

Comparable store sales in the quarter decreased 2%.

Net loss in the quarter widened to $6.9 million or 18 cents per diluted share compared to the $4.9 million or 13 cents per share from the same quarter last year.

Separately, the retailer reported sales in the four-week ending on August 27 declined 3.5% to $159.6 million from a year ago month and comparable store sales in August slumped 3% compared to increase of 1.2% in the year-earlier month.

Fred''''s forecasted both total sales and comparable store sales in the second-half of the year between negative 1% to a positive 1% and diluted loss per share in the range of 18 cents to 23 cents.

G-III Apparel Group, Ltd (GIII), the apparel retailer reported net sales in the second-quarter ending in July plunged 7% from a year ago at $442.3 million.

Net in the quarter swung to a loss of $1.3 million or 3 cents per diluted share compared to the profit of $12.5 million or 27 cents per share from the same quarter last year.

The retailer lowered its forecast in the year for net sales of about $2.48 billion from earlier estimated to about $2.56 billion.

Net income estimated in the range of $102 million to $106 million from previously forecasted range between $120 million and $125 million.

The retailer lowered its diluted earnings per share estimate in the range of $2.16 and $2.26 from the earlier forecasted range between $2.55 and $2.65.

TiVo Inc (TIVO), the TV content recording equipment provider said net revenues in the second-quarter ending in July declined 9.8% from a year ago at $107.7 million.

Net income in the quarter soared 61.4% to $13.4 million or 14 cents per diluted share compared to the $8.3 million or 9 cents per share from the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc