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DAILY EARNINGS

Best Buy, Home Depot, Medtronic, TJX Net Jump


Author: Mukesh Buch
ticker.com
Last Update: 12:17 PM ET August 20 2013

10:45 AM New York Best Buy second-quarter net surged to $266 million. Home Depot second-quarter net soared 18% to $1.80 billion. J. C. Penney second-quarter net loss widened to $586 million. Medtronic first-quarter net jumped 10% to $953 million. TJX second-quarter net soared 14% to $479.6 million.

Earnings Review

Best Buy Co. (BBY), the electronics retailer reported total revenues in the second-quarter ending on August 4 were flat to $9.3 billion. Comparable store sales in the quarter slipped 1.8%.

Net income in the quarter surged to $266 million or 77 cents a diluted share compared to $12 million or 4 cents.

The company added gross profit in the second-quarter jumped 9% to $2.47 billion and operating income soared above three-fold to $413 million.

Daktronics, Inc. (DAKT), the digital scoreboards provider stated net sales in the third-quarter ending on July 27 grew 4% to $138.7 million. Net income in the quarter tumbled 15% to $5.7 million or 13 cents a diluted share compared to $6.7 million or 16 cents.

Dick''s Sporting Goods, Inc (DKS), the sporting goods retailer said net sales in the second-quarter ending on August 3 rose 7% to $1.5 billion. Consolidated same store sale in the quarter decreased 0.4%.

Net income in the quarter surged 57% to $84.2 million or 67 cents a diluted share compared to $53.7 million or 43 cents.

For the year, the company expects diluted earnings per share between $2.60 and 2.65.

For the third-quarter, the company expects diluted earnings per share in the range of 37 cents to 39 cents. For the fourth-quarter, the company expects diluted earnings per share between $1.04 and 1.07.

The Home Depot, Inc (HD), the home improvement retailer reported net sales in the second-quarter ending on August 4 advanced 9% to $22.5 billion. Comparable store sales in the quarter surged 10.4%.

Net earnings in the quarter soared 18% to $1.80 billion or $1.24 a diluted share compared to $1.53 billion or $1.01.

J. C. Penney Company, Inc. (JCP), the department stores operator said net sales in the second-quarter ending on August 3 declined 12% to $2.66 billion. Comparable store sales in the quarter surged 11.9%.

Net loss in the quarter widened to $586 million or $2.66 a diluted share compared to $147 million or 67 cents.

Medtronic, Inc. (MDT), the medical equipment maker reported revenue in the first-quarter ending on July 26 increased 2% to $4.08 billion. Net income in the quarter jumped 10% to $953 million or 93 cents a diluted share compared to $864 million or 83 cents.

For the year, the company expects diluted earnings per share in the range of $3.80 to $3.85.

The TJX Companies, Inc (TJX), the off-price retailer stated net sales in the second-quarter ending on August 3 climbed 12% to $2.66 billion. Comparable store sales in the quarter grew 4%.

Net income in the quarter soared 14% to $479.6 million or 66 cents a diluted share compared to $421.1 million or 56 cents.

For the third quarter, the company expects diluted earnings per share in the range of 69 cents to 72 cents.

For the year, the company expects diluted earnings per share between $2.74 and $2.80.

Urban Outfitters, Inc (URBN), the lifestyle specialty retailer reported total net sales in the second-quarter ending in July jumped 12% to $758.5 million. Comparable store sales in the quarter climbed 9%.

Net income in the quarter soared 24.6% to $76.4 million or 51 cents a diluted share compared to $61.3 million or 42 cents.
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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