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DAILY EARNINGS

Kohl's Net Soars; Macy's Net Plunges, Snapchat Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 1:09 PM ET May 11 2017

12:00 PM New York – Brookfield Asset Management first-quarter net declined 19% to $518 million. Dillard''s first-quarter net plummeted 14% to $66 million. Kohl''s first-quarter net soared to $66 million. Macy''s first-quarter net plunged 39% to $71 million. Snapchat first-quarter net loss widened to $2.2 billion.

Tollbooth Index dropped 51.21 or 0.4% to 12,131.08.

Earnings Review

Brookfield Asset Management Inc (BAM), the Canada-based alternative asset manager said revenues in the first-quarter ending in March soared 15.4% from a year ago to $6 billion.

Net income in the quarter declined 18.5% to $518 million or 8 cents per diluted share from $636 million or 23 cents in the same quarter last year.

Dillard''s, Inc (DDS), the fashion apparel, cosmetics and home furnishing retailer said net sales in the first-quarter ending in April slumped 5.3% from a year ago to $1.4 billion.

Net income in the quarter plummeted 14.3% to $66.3 million or $2.12 per diluted share from $77.4 million or $2.17 in the same quarter last year.

Enbridge Inc (ENB), the Canada-based energy transportation and distribution services provider reported revenues in the first-quarter ending in March surged 26.1% from a year ago to C$11.1 billion.

Net income in the quarter tumbled 47% to C$638 million or 54 cents per diluted share from C$1.2 billion or $1.38 in the same quarter last year.

Kohl''s Corporation (KSS), the department stores operator stated total sales in the first-quarter ending in April fell 3.2% from a year ago to $3.8 billion.

Comparable store sales in the quarter dropped 2.7%

Net income in the quarter soared to $66 million or 39 cents per diluted share from $17 million or 9 cents in the same quarter last year.

The retailer said gross margin in the quarter increased by 83 basis point to 36.4% from 35.5% in the same period a year ago.

Macy''s Inc (M), the department stores operator reported sales in the first-quarter ending in April slumped 7.5% from a year ago to $5.3 billion.

Comparable store sales in the quarter declined 5.2%

Net income in the quarter plunged 38.8% to $71 million or 23 cents per diluted share from $116 million or 37 cents in the same quarter last year.

Macy''s said profit declined on weak sales and higher inventory that weighed on margins.

However, the retailer’s new management said that the results are ""consistent with our expectations"" and reaffirmed its 2017 outlook.

Snapchat Inc, the privately held social media services provider said revenues in the first-quarter ending in March surged 286% from a year ago to $149.6 million.

Net loss in the quarter widened to $2.2 billion or $2.31 per diluted share from $104.6 million or 14 cents in the same quarter last year.

The social media said daily active users in the quarter soared 36% to 166 million from 122 million in a year ago period and increased 5% quarter-over-quarter, from 158 million fourth-quarter of 2016.

Teva Pharmaceutical Industries Ltd (TEVA), the Israel-based generic and specialty medicines maker reported revenues in the first-quarter ending in March soared 17% from a year ago to $5.6 billion.

Net income in the quarter rose 1.7% to $580 million or 57 cents per diluted share from $570 million or 62 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