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DAILY EARNINGS

HP Net Plunges, Sears Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 12:16 PM ET August 21 2014

12:30 AM New York – Buckle second-quarter net fell 2% to $25 million. Dollar Tree second-quarter net slipped 3% to $122 million. Hewlett-Packard third-quarter net plunged 29% to $1 billion. L Brands second-quarter net climbed 5% to $188 million. Sears second-quarter net loss widened to $573 million.

Tollbooth Index rose 0.2% or 20.49 to 9,514.07.

Earnings Review

The Buckle, Inc (BKE), the apparel, footwear, and accessories retailer reported net sales in the second-quarter ending on August 2 rose 1.4% to $235.7 million from a year ago period. Comparable store sales in the quarter slid 0.5%.

Net income in the quarter fell 2.4% to $24.5 million or 51 cents a diluted share compared to $25.1 million or 52 cents from a same quarter last year.

The Bon-Ton Stores, Inc (BONT), the department store operator reported total sales in the second-quarter ending on August 2 rose 1.1% to $563.5 million from a year ago period. Comparable store sales in the quarter increased 1.6%.

Net loss in the quarter narrowed to $36.2 million or $1.86 a diluted share compared to $37.3 million or $1.95 from a same quarter last year.

Children’s Place Inc (PLCE), the specialty retailer stated net sales in the second-quarter ending on August 2 rose 0.6% to $384.6 million from a year ago period. Comparable retail sales in the quarter increased 0.8%.

Net loss in the quarter widened to $10.7 million or 59 cents a diluted share compared to $23.6 million or $1.05 from a same quarter last year.

Dollar Tree, Inc. (DLTR), the discount store operator said net sales in the second-quarter ending on August 1 jumped 9.5% to $2.03 billion from a year ago period. Comparable store sales in the quarter advanced 4.5%.

Net income in the quarter slipped 2.6% to $121.5 million or 59 cents a diluted share compared to $124.7 million or 56 cents from a same quarter last year.

Family Dollar Stores Inc. (FDO), the discount stores operator rejected $8.95 billion acquisition offer of Dollar General Corp, citing antitrust concerns and support of buyout offer from Dollar Tree Inc.

Hewlett-Packard Company (HPQ), the technology products provider reported net sales in the third-quarter ending in July increased 1% to $27.6 billion from a year ago period.

Net earnings in the quarter plunged 29% to $1 billion or 52 cents a diluted share compared to $1.4 billion or 71 cents from a same quarter last year.

L Brands Inc (LB), the specialty retailer said net sales in the second-quarter ending on August 2 jumped 6% to $2.68 billion from a year ago period. Comparable store sales in the quarter increase 3%.

Net income in the quarter rose 5.3% to $188.4 million or 63 cents a diluted share compared to $178.9 million or 61 cents from a same quarter last year.

The company expected third quarter earnings per share in the range of 26 cents to 31 cents and lifted earnings per share forecast between $3.03 and $3.18 from earlier guidance of $3 to $3.15.

Sears Holdings Corporation (SHLD), the retailer stated net sales in the second-quarter ending in July dropped 10% to $8.0 billion from a year ago period.

Net loss in the quarter widened to $573 million or $5.39 a diluted share compared to $194 million or $1.83 from a same quarter last year.

The Toro Company (TTC), the turf and agricultural machinery maker said net sales in the third-quarter ending in July jumped 11% to $567.5 million from a year ago period.

Net income in the quarter soared 25% to $50 million or 87 cents a diluted share compared to $40 million or 68 cents from a 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