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DAILY EARNINGS

Clarcor, Kroger Net Soar; Rite Aid Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 1:27 PM ET June 16 2016

12:00 PM New York Clarcor second-quarter net jumped 39% to $53 million. Jabil Circuit third-quarter net declined 93% to $5 million. The Kroger first-quarter net soared 10% to $680 million. Korn-Ferry Intl fourth-quarter net plummeted 78% to $6 million. Rite Aid net swung to a loss of $5 million.

Tollbooth Index slipped 58.65 or 0.6% to 10,462.69.

Earnings Review

Clarcor Inc (CLC), the filtration products maker said net sales in the second-quarter ending on May 28 declined 9% from a year ago to $365 million.

Net income in the quarter jumped 39% to $53.4 million or $1.09 per diluted share compared to $38.5 million or 76 cents per share from the same quarter last year.

The company forecasted consolidated net sales in the year between $1.38 billion and $1.42 billion and diluted earnings per share in the range of $2.60 to $2.80.

Jabil Circuit, Inc (JBL), the electronic chip maker stated net revenues in the third-quarter ending in May were flat from a year ago at $4.3 billion.

Net income in the quarter declined 92.8% to $5.2 million or 3 cents per diluted share compared to $72.2 million or 37 cents per share from the same quarter last year.

The Kroger Co (KR), the food and drugs store retailer reported total sales in the first-quarter ending on May 21 jumped 4.7% from a year ago to $34.6 billion.

Net income in the quarter soared 9.9% to $680 million or 70 cents per diluted share compared to $619 million or 62 cents per share from the same quarter last year.

Kroger confirmed fiscal 2016 diluted earnings per share estimate in the range of $2.19 to $2.28 and capital investments excluding mergers, acquisitions and purchases of leased facilities between $4.1 and $4.4 billion.

Korn/Ferry International (KFY), the executive recruitment company stated total revenues in the fourth-quarter ending in April surged 47.8% from a year ago to $417.2 million.

Net income in the quarter plummeted 78% to $5.6 million or 10 cents per diluted share compared to $25.5 million or 51 cents per share from the same quarter last year.

The stock plunged after the company beat the last quarter estimate but announced weaker-than-expected outlook.

The executive placement agency estimated fiscal first-quarter revenues between $371 million and $391 million and earnings per share between 50 cents and 58 cents.

Analysts are looking for revenues of at least $385 million and earnings per share of 58 cents.

Rite Aid Corporation (RAD), the retail drugstore chain operator said revenues in the first-quarter ending on May 28 surged 23.1% from a year ago to $8.2 billion.

Same store sales in the quarter increased 0.4% and the number of prescriptions filled in same stores increased 0.6%.

Net in the quarter swung to a loss of $4.6 million or break even per diluted share compared to profit of $18.8 million or 2 cents 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