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DAILY EARNINGS

Best Buy, Cato, Smucker Net Jump; Buckle Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:04 PM ET November 19 2015

12:30 AM New York Best Buy third-quarter net soared 17% to $125 million. Broadcom third-quarter net jumped 21% to $19 million. Buckle third-quarter net plunged 12% to $36 million. Cato third-quarter net surged 46% to $8 million. Smucker second-quarter net rose 33% to $176 million.

Tollbooth Index rose 8.99 to 10,968.12.

Earnings Review

Best Buy Co Inc (BBY), the technology retailer reported sales in the third-quarter ending in October slipped 2.3% from a year ago to $8.82 billion.

Comparable store sales in the quarter gained 0.8% and online sales jumped 18%.

Net income in the quarter soared 16.8% to $125 million or 36 cents per diluted share compared to $107 million or 30 cents per share from the same quarter last year.

Broadcom Corporation (BRCM), the chip maker stated sales in the third-quarter ending in October plunged 8.8% from a year ago to $283.1 million.

Net income in the quarter jumped 20.6% to $18.7 million or 37 cents per diluted share compared to $15.5 million or 30 cents per share from the same quarter last year.

Buckle Inc (BKE), the casual apparel, footwear and accessories retailer reported net sales in the third-quarter ending in October dropped 4.1% from a year ago to $280.2 million.

Comparable store sales in the quarter declined 5.2% and online sales surged 13.6% to $25.9 million.

Net income in the quarter plunged 11.6% to $35.9 million or 74 cents per diluted share compared to $40.6 million or 84 cents per share from the same quarter last year.

Cato Corporation (CATO), the women''s fashion specialty retailer said net sales in the third-quarter ending in October jumped 4% from a year ago to $223.3 million.

Same store sales in the quarter gained 2%.

Net income in the quarter surged 45.6% to $8.3 million or 30 cents per diluted share compared to $5.7 million or 20 cents per share from the same quarter last year.

The retailer lifted diluted earnings per share forecast for the fourth-quarter 35 cents to 39 cents from 33 cents in a year ago period.

For the year, Cato estimated diluted earnings per share to increase between 7% and 9% or in the range of $2.31 to $2.35.

J M Smucker Co (SJM), the consumer food, beverage and pet food maker stated revenues in the second-quarter ending in October increased 40.5% from a year ago to $2.08 billion.

Net income in the quarter rose 33.2% to $176 million or $1.47 per diluted share compared to $158.3 million or $1.55 per share from the same quarter last year.

J M Smucker said net sales contribution of Big Heart Pet Brands, acquired in the year soared 40% to $595.9 million and growth within the U.S. retail coffee segment.

The company forecasted revenues for the year of about $7.9 billion and diluted earnings per share

Stein Mart, Inc (SMRT), the specialty stores operator said total sales in the third-quarter ending in October fell 1% from a year ago to $300.7 million.

Same store sales in the quarter slumped 2.3%.

Net loss in the quarter narrowed to $0.2 million or 1 cent per diluted share compared to $1.2 million or 3 cents per share from the same quarter last year.

Stage Stores Inc (SSI), the apparel and accessories retailer reported sales in the third-quarter ending in October slumped 3.5% from a year ago to $351.6 million.

Same store sales in the quarter slid 3.5%.

Net loss in the quarter widened to $10.2 million or 32 cents per diluted share compared to $5.3 million or 17 cents per share from the same quarter last year.
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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