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DAILY EARNINGS

Dollar General Net Rises; Genesco, Guess Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:50 PM ET August 28 2014

12:30 AM New York – Abercrombie & Fitch second-quarter net soared 13% but same store sales fell. Dollar General second-quarter net rose 2% to $251 million. Guess second-quarter net tumbled 45%. Pall Corp fourth-quarter net surged 40% to $120 million. Williams-Sonoma second-quarter net jumped 5% but offered a cautious outlook.

Tollbooth Index slipped 0.3% or 30.24 to 9,506.47.

Earnings Review

Abercrombie & Fitch Co (ANF), the specialty retailer said net sales the second-quarter ending on August 2 dropped 5.8% to $890 million from a year ago period. Comparable store sales in the quarter plummeted 7%.

Net income in the quarter rose 13.1% to $12.9 million or 17 cents a diluted share compared to $11.4 million or 14 cents from a same quarter last year.

The retailer estimated diluted earnings per share for the year in the range of $2.15 to $2.35.

Dollar General Corp (DG), the discount retailer reported net sales the second-quarter ending on August 1 jumped 7.5% to $4.72 billion from a year ago period. Same store sales in the quarter increased 2.1%.

Net income in the quarter rose 2.4% to $251 million or 83 cents a diluted share compared to $245 million or 75 cents from a same quarter last year.

The deep discount retailer forecasted annual sales to increase 8% to 9% and same-store sales to increase 3% to 3.5%. Adjusted diluted earnings per share for the fiscal year are expected between $3.45 and $3.55.

Genesco Inc (GCO), the apparel and accessories retailer stated net sales in the second-quarter ending on August 2 climbed 7.1% to $615 million from a year ago period. Comparable store sales in the quarter rose 2%.

Net earnings in the quarter plunged 43.4% to $4.7 million or 20 cents a diluted share compared to $8.3 million or 35 cents from a same quarter last year.

The company forecasted adjusted diluted earnings per share for the Fiscal 2015 between $5.10 and $5.20.

Guess, Inc (GES), the apparel and accessories retailer said total revenue the second-quarter ending on August 2 slumped 4.8% to $608.6 million from a year ago period. Comparable store sales in the quarter declined 5.4%.

Net income in the quarter tumbled 45.1% to $21.9 million or 26 cents a diluted share compared to $39.9 million or 47 cents from a same quarter last year.

The company added net revenues from North America slipped 4.1% to $244 million and net revenue from the wholesale segment declined 7.5% to $38.3 million.

Net revenues from the European segment fell 6% to $235.3 million. Net revenue from the Asia segment slid 2.4% to $64.3 million.

Pall Corporation (PLL), the filtration products maker reported sales in the fourth-quarter ending in July soared 12% to $800 million from a year ago period.

Net earnings in the quarter surged 40.3% to $120.1 million or $1.08 a diluted share compared to $85.6 million or 76 cents from a same quarter last year.

Pall lifted its total revenue guidance for fiscal 2015 in the range of mid-to-high single-digits and pro-forma earnings per share between $3.75 and $3.95 represents 9% to 15% increase from fiscal 2014.

Williams-Sonoma, Inc (WSM), the home furnishing company said net revenue in the second-quarter ending on August 3 increased 5.8% to $1.04 billion from a year ago period. Comparable brand revenue in the quarter climbed 5.7%.

Net earnings in the quarter jumped 4.9% to $50.7 million or 53 cents a diluted share compared to $48.9 million or 49 cents from a same quarter last year.

The stock sold off after the housewares retailer estimated third quarter sales between $1.1 billion and $1.3 billion and earnings per share between 58 cents and 53 cents less than analysts’ estimate of at least 65 cents a share.
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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