10:45 AM New York – Best Buy third-quarter net swung to a profit $54 million. Campbell Soup first-quarter net plunged 30% to $172 million. Home Depot third-quarter net surged 43% to $1.3 billion. Medtronic second-quarter net soared 40% to $902 million. TJX third-quarter net surged 35% to $623 million.
Best Buy Co., Inc
), the consumer electronics products retailer reported revenue in the third-quarter ending on November 2 slid 0.2% to $9.36 billion.
Comparable store sales in the quarter rose 1.7% but comparable store sales in international segment declined 6.4% and online sales climbed 15.1%.
Net in the quarter swung to $54 million profit or 16 cents a diluted share compared to a net loss of $10 million or 3 cents a share loss.
Revenue in international segment declined 11.3% to $1.52 billion and gross profit dropped 60 basis points to 21.2% from last year.
Best Buy said in a statement that competition may force the retailer to be more promotional than usual and that could hurt margins in the current quarter that generates most revenues. The cautious outlook overshadowed the better-than-expected quarterly earnings.
Campbell Soup Company
), the food processing company said net sales in the first-quarter ending on October 27 fell 2% to $2.17 billion.
Net earnings in the quarter plunged 30% to $172 million or 54 cents a diluted share compared to $245 million or 78 cents.
Dicks Sporting Goods Inc
), the sports goods retailer stated net sales in the third-quarter ending on November 2 increased 6.7% to $1.4 billion. Consolidated same store sales in the quarter rose 3.3%
Net income in the quarter grew 3.6% to $50 million compared to $50.1 million and diluted earnings per share in the quarter were flat at 40 cents from a year ago.
The Home Depot, Inc
), the home improvement retailer reported net sales in the third-quarter ending on November 3 jumped 7.4% to $19.5 billion. Comparable store sales in the quarter soared 7.4% and sales for the U.S. stores climbed 8.2%.
Net income in the quarter surged 42.7% to $1.35 billion or 95 cents a diluted share compared to $947 million or 63 cents.
Gross profit for the quarter climbed 8.5% to $6.80 billion and operating income soared 32.3% to $2.29 billion.
The home improvement retailer lifted its sales guidance for the year and estimated sales to increase 5.6% and comparable store sales are expected to be up nearly 7%.
The company raised diluted earnings-per-share guidance to increase by 24% to $3.72.
), the medical equipment maker said net sales in the first-quarter ending on October 25 grew 3.3% to $4.2 billion.
Net earnings in the quarter soared 40% to $902 million or 89 cents a diluted share compared to $646 million or 63 cents.
The company reiterated its revenue outlook and diluted earnings per share for fiscal 2014 in the range of $3.80 to $3.85.
), the cloud computing solution provider reported revenue in the third-quarter ending in September soared 36% to $1.08 billion.
Net loss in the quarter narrowed to $124.4 million or 21 cents a diluted share compared to $220.3 million or 39 cents.
The company lifted revenue guidance for the year between $4.05 billion and $4.06 billion.
The TJX Companies, Inc
), the apparel and home fashions retailer reported net sales in the third-quarter ending on November 2 climbed 9% to $7 billion. Comparable store sales in the quarter jumped 5%.
Net income in the quarter surged 34.9% to $622.7 million or 86 cents a diluted share compared to $461.6 million or 62 cents.
For the fourth quarter, TJX lowered its diluted earnings per share guidance in the range of 77 cents to 80 cents compared to reported 82 cents per share of last year
For the year, the company lifted diluted earnings per share forecast between $2.91 and $2.94 from $2.55 in fiscal 2013.