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DAILY EARNINGS

Best Buy, Dollar Tree, Lowe's Net Surge; Salesforce Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 3:38 AM ET March 01 2017

12:00 PM New York Best Buy fourth-quarter net soared 27% to $607 million. Dollar Tree fourth-quarter net surged 41% to $322 million. Icahn Entp fourth-quarter net loss narrowed to $206 million. Lowe''s fourth-quarter net surged to $663 million. Salesforce.com fourth-quarter net loss widened to $51 million.

Tollbooth Index jumped 111.63 or 0.9% to 11,748.97.

Earnings Review

American Eagle Outfitters (AEO), the specialty retailer said total revenues in the second-quarter ending in December slid 1% from a year ago to $1.1 billion.

Same store sales in the quarter edged up from 4% increase in last year.

Net income in the quarter declined 33.2% to $54.6 million or 30 cents per diluted share from $81.7 million or 42 cents per share in the same quarter last year.

Best Buy Co Inc (BBY), the technology products provider said revenues in the fourth-quarter ending in December fell 1% from a year ago to $13.5 billion.

Comparable store sales in the quarter decreased 0.9% but comparable online sales jumped 17.5%.

Net income in the quarter soared 26.7% to $607 million or $1.91 per diluted share from $479 million or $1.40 per share in the same quarter last year.

The consumer electronics supplier lowered earnings per share in fiscal first-quarter of 2017 in the range of 35 cents to 40 cents from 49 cents expected by the Wall Street and revenues in the range of $8.2 billion to $8.3 billion but comparable sales change in the range to fall between 1% and 2%.

Dollar Tree, Inc (DLTR), the discount retailer said sales in the fourth-quarter ending in December soared 5% from a year ago to $5.6 billion.

Same store sales in the quarter in the Dollar Tree banner rose 2.3% and same store sales in the Family Dollar banner increased 0.2%.

Net income in the quarter surged 40.5% to $321.8 million or $1.36 per diluted share from $ million or $1.40 per share in the same quarter last year.

The retailer forecasted net sales in the fiscal first-quarter of 2017 in the range of $5.26 billion to $5.35 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share in the range of 91 cents to 98 cents.

In the fiscal 2017, net sales estimated between $21.94 billion to $22.33 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share are expected to range from $4.20 to $4.56.

The discount retailer said guidance included 53rd week in the fourth quarter that expected to add $400 million to $430 million to sales and 19 cents to 22 cents in earnings per diluted share.

Donaldson Company, Inc (DCI), the filtration systems maker said sales in the second-quarter ending in December jumped 6.4% from a year ago to $550.6 million.

Net income in the quarter soared 22.4% to $46.5 million or 35 cents per diluted share from $38 million or 28 cents per share in the same quarter last year.

Donaldson lifted full-year 2017 diluted earnings per share forecast between $1.60 and $1.68 from earlier estimated range of $1.50 to $1.66 and sales will increase between 2% and 4% from prior estimated range of 2% decline and 2% increase from 2016.

Icahn Enterprises LP (IEP), the diversified investor stated revenues in the fourth-quarter ending in December surged 52.7% from a year ago to $3.9 billion.

Net loss in the quarter narrowed to $206 million or $1.42 per diluted share from $1.1 billion or $8.56 per share in 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