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DAILY EARNINGS

Gap Net Plunges, Best Buy Net Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 5:01 AM ET May 22 2014

10:45 AM New York Best Buy first-quarter net swung to profit $461 million. Foot Locker first-quarter net climbed 17% to $162 million. Gap first-quarter net tumbled 22% to $260 million. GameStop first-quarter net surged 25% to $68 million. Hibbett Sports first-quarter net jumped 8% to $28 million.

Aeropostale Inc (ARO), the specialty retailer said net sales in the first-quarter ending on May 4 dropped 12% to $395.9 million. Comparable-store sales in the quarter declined 13%.

Net loss in the quarter widened to $76.8 million or 98 cents a diluted share compared to $12.2 million or 16 cents.

Best Buy Co Inc (BBY), the consumer electronics retailer in the first-quarter ending on May 3 fell 3.4% to $9.03 billion. Comparable-store sales in the quarter dropped 5.8%.

Net in the quarter swung to profit $461 million or $1.31 a diluted share compared to a loss of $81 million or 24 cents.

Foot Locker, Inc (FL), the shoes and apparel retailer reported revenue in the first-quarter ending on May 3 jumped 14% to $1.87 billion. Comparable-store sales in the quarter soared 7.6%.

Net income in the quarter climbed 17.4% to $162 million or $1.10 a diluted share compared to $138 million or 90 cents.

The Fresh Market Inc (TFM), the perishable product retailer reported net sales in the first-quarter ending on April 27 climbed 17.6% to $431 million. Comparable-store sales in the quarter increased 2.5%.

Net income in the quarter plunged 24.5% to $16.6 million or 34 cents a diluted share compared to $22.1 million or 46 cents.

The Gap Inc (GPS), the specialty apparel retailer said net sales in the first-quarter ending on May 3 rose 1% to $3.77 billion. Comparable-store sales in the quarter fell 1%.

Net income in the quarter tumbled 21.9% to $260 million or 58 cents a diluted share compared to $333 million or 71 cents.

GameStop Corp (GME), the multi-channel video game retailer stated total sales in the first-quarter ending on May 3 advanced 7% to $1.87 billion. Comparable-store sales in the quarter climbed 5.8%.

Net income in the quarter surged 24.5% to $68 million or 59 cents a diluted share compared to $54.6 million or 46 cents.

Hibbett Sports, Inc (HIBB), the sporting goods retailer said net sales in the first-quarter ending on May 3 soared 9.1% to $261.9 million. Comparable-store sales in the quarter jumped 4.1%.

Net income in the quarter jumped 8.4% to $28.4 million or $1.09 a diluted share compared to $26.2 million or $1.
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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