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DAILY EARNINGS

HP Net Surges; VMware Net Declines, GameStop Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 11:31 AM EST November 30 2018

11:45 PM New York Citi Trends third-quarter net swung to a loss on weak sales. GameStop third-quarter net swung to a loss of $489 million. HP Inc fourth-quarter net more than doubled to $1.5 billion. PVH third-quarter net rose 2% to $243 million. VMware third-quarter net plunged 15% to $334 million.

Tollbooth Index edged up 2.35 to 15,242.81 but for the year-to-date soared 10.8%.

Earnings Review

Citi Trends Inc (CTRN), the apparel and accessories retailer said total sales in the third-quarter ending on October 28 fell 0.8% from a year ago to $175.4 million.

Comparable store sales in the quarter increased 0.6%.

Net in the quarter swung to a loss of $0.5 million or 4 cents per diluted share from profit of $0.6 million or 5 cents in the same quarter last year.

The retailer forecasted fiscal 2018 total sales growth to fall in the range of 3% to 4% and diluted earnings per share between $1.66 and $1.71.

GameStop Corp (GME), the video game, consumer electronics and wireless services retailer reported total sales in the third-quarter ending on November 3 jumped 4.8% from a year ago to $2.1 billion.

Comparable store sales in the quarter advanced 2.1%.

Net in the quarter swung to a loss of $488.6 million or $4.78 per diluted share from profit of $59.4 million or 59 cents in the same quarter last year.

GameStop forecasted fiscal 2018 sales growth to decline to between 2% and 6% and comparable store sales between flat and 5% decline and diluted earnings per share in the range of $2.55 to $2.75.

HP Inc (HPQ), the information technology provider reported net revenues in the fourth-quarter ending in October soared 10% from a year ago to $15.4 billion.

Net income in the quarter more than doubled to $1.5 billion or 91 cents per diluted share from $660 million or 39 cents in the same quarter last year.

HP said strong revenues were driven by sells growth in personal computers and notebooks and acquisition of Samsung''s printer business.

HP forecasted fiscal 2019 diluted earnings per share in the range of $2.04 to $2.14.

PVH Corp (PVH), the apparels maker said net sales in the third-quarter ending on November 4 surged 7% from a year ago to $2.5 billion.

Net income in the quarter rose 1.6% to $242.6 million or $3.15 per diluted share from $238.7 million or $3.05 in the same quarter last year.

PVH forecasted fiscal 2018 diluted earnings per share in the range of $9.10 to $9.12 from $6.84 in the same period a year ago and total revenues growth of about 7%.

VMware Inc (VMW), the cloud computing and virtual software provider reported total revenues in the third-quarter ending on November 3 surged 14% from a year ago to $2.2 billion.

Net income in the quarter plunged to $334 million or 81 cents per diluted share from $395 million or 96 cents 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