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DAILY EARNINGS

Five Below Net Swung to Profit, PVH Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 12:09 PM ET September 10 2013

10:45 AM New York Crocs lowered its third quarter revenue outlook. Five Below second-quarter net swung a profit as sales surged 35%. HD Supply second-quarter net loss widened to $75 million. Limoneira third-quarter net climbed 30% after revenue jumped. PVH second-quarter net swung a loss $16 million.

Earnings Review

Crocs, Inc (CROX), the footwear and accessory designer lowered its third quarter revenue outlook and now expects between $285 million and $295 million and diluted earnings per share in the range of 15 cents to 18 cents.

On July 24, the company estimated revenue in the range of $300 million to $310 million and diluted earnings per share between 20 cents and 23 cents.

Five Below, Inc (FIVE), the department stores operator said net sales in the second-quarter ending in July surged 35% to $117.1 million. Comparable store sales in the quarter climbed 6.6%.

Net in the quarter swung a profit $4.1 million or 32 cents a diluted share compared to a loss of $64.2 million or $3.41.

HD Supply Holdings, Inc. (HDS), the industrial distributor reported net sales in the second-quarter ending in July jumped 9.7% to $2.26 million. Net loss in the quarter widened to $75 million or 47 cents a diluted share compared to $59 million or 43 cents.

Limoneira Company (LMNR), the agribusiness company agreed to acquire Associated Citrus Packers Inc. for $18.6 million and reported revenue in the thirds-quarter ending in July jumped 21% to $29.9 million. Net income in the quarter rose $6.54 million or 49 cents a diluted share compared to $5.02 million or 45 cents.

Neurocrine Biosciences, Inc (NBIX), the healthcare company said lower dose of its experimental drug NBI-98854 did not meet and did not match with mid-stage clinical study.

PVH Corporation (PVH), the apparel & accessory maker reported total revenue in the second-quarter ending on August 4 climbed 47% to $1.97 billion.

Comparable store sales at Calvin Klein brand and Tommy Hilfiger in North America in the quarter jumped 6% and 7% respectively and international sales of Tommy Hilfiger soared 11% but international sales of Calvin Klein brand slid 1%.

Net in the quarter swung a loss $16 million or 20 cents a diluted share compared to a net income of $89.9 million or $1.22.
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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