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DAILY EARNINGS

Big Lots, Dollar General, Tiffany Net Rise; Dollar Tree Net Swing to Profit


Author: Mukesh Buch
ticker.com
Last Update: 12:50 PM ET August 26 2016

12:00 PM New York Big Lots second-quarter net rose 2% to $23 million. Dollar Tree second-quarter net swing to profit $170 million. Dollar General second-quarter net soared 9% to $307 million. Tiffany second-quarter net increased 1% to $106 million.

Tollbooth Index decreased 38.80 or 0.4% to 11,021.46.

Earnings Review

Big Lots, Inc (BIG), the discount retailer reported revenues in the second-quarter ending in July fell 0.5% from a year ago at $1.2 billion.

Comparable store sales in the quarter increased 0.3%, represents the 10th consecutive quarter of growth.

Net income in the quarter rose 1.9% to $22.7 million or 50 cents per diluted share compared to the $17.6 million or 34 cents per share from the same quarter last year.

The discount retailer lifted diluted earnings per share forecast in the full-year between $3.45 and $3.55 from earlier estimated range of $3.35 to $3.50.

Dollar Tree, Inc (DLTR), the discount variety stores operator reported revenues in the second-quarter ending in July surged 65.9% from a year ago at $5 billion.

Same store sales in the quarter jumped 2.7%.

Net in the quarter swing to profit $170.2 million or 72 cents per diluted share compared to the loss of $98 million or 46 cents per share from the same quarter last year.

In the third-quarter, the retailer estimated net sales in the third-quarter between $5.02 billion and $5.10 billion and a low single-digit increase in same-store sales while diluted earnings per share in the range of 76 cents to 82 cents.

Dollar Tree lowered net sales forecast in the year in the range of $20.69 billion to $20.87 billion from previously estimated range of $20.79 billion to $21.08 billion and diluted earnings per share $3.67 and $3.82 compared to previous guidance of $3.58 to $3.80.

Dollar General Corp (DG), the home products and apparel discount retailer said net sales in the second-quarter ending on July 29 jumped 5.8% from a year ago at $5.39 billion.

Same store sales in the quarter rose 0.7%.

Net income in the quarter soared 8.9% to $306.5 million or $1.08 per diluted share compared to the $282.3 million or 95 cents per share from the same quarter last year.

Tiffany & Co (TIF), the jeweller and specialty retailer said revenues in the second-quarter ending in July plunged 6% from a year ago at $931.6 million.

Comparable store sales in the quarter plummeted 8%.

Net income in the quarter rose 1% to $105.7 million or 84 cents per diluted share compared to the $104.9 million or 81 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