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DAILY EARNINGS

Best Buy Net Swings to Profit, Sears Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 11:24 AM ET February 27 2014

10:45 AM New York Best Buy fourth-quarter net swung to a profit $293 million. Kohl''s fourth-quarter net plunged 12% to $334 million. Mylan fourth-quarter net climbed 11% to $180 million. Sempra Energy fourth-quarter net fell 4% to $282 million. Sears fourth-quarter net loss narrowed to $358 million.

Earnings Review

Best Buy Co., Inc (BBY), the consumer electronics retailer reported revenue in the fourth-quarter ending on February 1 dropped 3% to $14.47 billion. Comparable store sales in the quarter slipped 1.2% and online comparable sales surged 25.8%.

Net in the quarter swung to a profit $293 million or 88 cents a diluted share compared to a loss of $409 million or $1.36.

Hilton Worldwide Holdings Inc (HLT), the hotels and resorts operator said revenue in the fourth-quarter ending in December jumped 12.8% to $2.64 billion.

Net income in the quarter tumbled 57.4% to $26 million or 3 cents a diluted share compared to $61 million or 7 cents.

Kohl''s Corporation (KSS), the department stores operator stated total sales in the fourth-quarter ending on February 1 slumped 3.8% to $6.10 billion. Comparable store sales in the quarter fell 2%.

Net income in the quarter plunged 12% to $334 million or $1.56 a diluted share compared to $378 million or $1.66.

Kohl''s lifted its total sales forecast for the year between 0.5% and 2.5% and comparable sales to rise up to 2% and diluted earnings per share in the range of $4.05 to $4.45.

Mylan Inc (MYL), the pharmaceutical company said total revenue in the fourth-quarter ending in December jumped 5% to $1.81 billion.

Net income in the quarter climbed 11.2% to $180.2 million or 45 cents a diluted share compared to $162 million or 39 cents.

Pall Corporation (PLL), the filtration equipment provider reported revenue in the second-quarter ending in January grew 2.2% to $677 million.

Net earnings in the quarter rose 9% to $83.7 million or 75 cents a diluted share compared to $76.8 million or 67 cents.

Sempra Energy (SRE), the utility provider stated revenue in the fourth-quarter ending in December

Net earnings in the quarter fell 3.7% to $282 million or $1.13 a diluted share compared to $293 million or $1.18.

The company reaffirmed consolidated earnings per share guidance for the year in the range of $4.25 to $4.55.

Sears Holdings Corp (SHLD), the specialty retailer reported revenues in the fourth-quarter ending on February 1 declined 13.6% to $10.59 billion.

Net loss in the quarter narrowed to $358 million or $3.37 a diluted share compared to $489 million or $4.61.
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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