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DAILY EARNINGS

Aramark, Lowe's, Target Net Soar; Staples Profit Declines


Author: Mukesh Buch
ticker.com
Last Update: 10:48 AM ET November 18 2015

12:30 AM New York Aramark fourth-quarter net jumped 28% to $57 million. Lowe''s third-quarter net soared 26% to $736 million. La-Z-Boy second-quarter net rose 9% to $21 million. Staples third-quarter net plunged 9% to $198 million. Target third-quarter net surged 56% to $549 million.

Tollbooth Index increased 54.24 or 0.5% to 10,835.24.

Earnings Review

Aramark, formerly ARAMARK Holdings Corporation, the food and uniform services provider said sales in the fourth-quarter ending on October 2declined 10.1% from a year ago to $3.55 billion.

Net income in the quarter jumped 28.2% to $56.9 million or 23 cents per diluted share compared to $44.4 million or 18 cents per share from the same quarter last year.

Aramark estimated earnings per share for the fiscal 2016 in the range of $1.65 to $1.75.

Jack in the Box Inc (JACK), the restaurants operator said total revenues in the fourth-quarter ending on September 27 rose 2.7% from a year ago to $354.1 million.

System-wide same-store sales in the quarter soared 6.2% and company same-store sales jumped 4.1%.

Net income in the quarter soared 42.6% to $23.1 million or 63 cents per diluted share compared to $16.2 million or 40 cents per share from the same quarter last year.

Lowe''s Companies, Inc (LOW), the home improvement retailer reported sales in the third-quarter ending in October jumped 5% from a year ago to $14.36 billion.

Comparable store sales in the quarter gained 4.6% and comparable sales for the U.S. home improvement business increased 5%.

Net income in the quarter soared 25.8% to $736 million or 80 cents per diluted share compared to $585 million or 59 cents per share from the same quarter last year.

The home improvement retailer forecasted total sales for the year to increase 4.5% to 5% and comparable sales to jump 4% to 4.5% and diluted earnings per share of about $3.29.

La-Z-Boy Incorporated (LZB), the upholstery furniture maker said sales in the second-quarter ending on October 24 increased 4.7% from a year ago to $382.9 million.

Same-store sales for the La-Z-Boy Furniture Galleries in the quarter jumped 3.6%.

Net income in the quarter advanced 9.4% to $21 million or 41 cents per diluted share compared to $19.2 million or 36 cents per share from the same quarter last year.

Staples, Inc (SPLS), the consumer products retailer stated total sales in the third-quarter ending in October declined 6.2% from a year ago to $5.59 billion.

Net income in the quarter plunged 8.8% to $198 million or 31 cents per diluted share compared to $217 million or 34 cents per share from the same quarter last year.

The company expects to generate more than $600 million of free cash flow for the year.

Target Corporation (TGT), the discount stores operator reported net sales in the third-quarter ending in October increased 2.1% from a year ago to $17.61 billion.

Comparable store sales in the quarter rose 1.9% and comp stores sales in signature categories advanced 2.5%.

Net income in the quarter surged 56% to $549 million or 87 cents per diluted share compared to $352 million or 55 cents per share from the same quarter last year.

For the fourth-quarter the retailer forecasted earnings per share in the range of $1.48 to $1.58.

Target lifted earnings per share forecasted for the year between $4.65 and $4.75 from earlier estimated range f $4.60 to $4.75.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc