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DAILY EARNINGS

L Brands, Tech Data Net Jump; Sears Net Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 12:51 PM ET August 20 2015

12:30 AM New York Buckle second-quarter net fell 4% to $24 million. Cato second-quarter net slid 0.6% to $16 million. L Brands second-quarter net surged 8% to $202.5 million. Sears second-quarter net swung to profit $208 million. Tech Data second-quarter net soared 94% to $76 million.

Tollbooth Index slipped 113.95 or 1.1% to 10,751.06.

Earnings Review

The Buckle, Inc (BKE), the apparel, footwear and accessories retailer said net sales in the second-quarter ending on August 1 edged up 0.1% to $236.1 million from a year ago period.

Comparable store sales in the quarter slipped 1.7% while online sales soared 17.4% to $20.1 million.

Net income in the quarter decreased 4.1% to $23.5 million or 49 cents per diluted share compared to $24.5 million or 51 cents from the same quarter last year.

Bon-Ton Stores Inc (BONT), the department store operator total sales in the second-quarter ending on August 1 fell 1.4% to $555.4 million from a year ago period.

Same store sales in the quarter decreased 1.3%.

Net loss in the quarter widened to $39.6 million or $2.01 per diluted share compared to $36.2 million or $1.86 from the same quarter last year.

Cato Corporation (CATO), the women''s fashion retailer stated net revenues in the second-quarter ending on August 1 increased 2.1% to $251.3 million from a year ago period.

Same store sales in the quarter were flat.

Net income in the quarter slid 0.6% to $15.6 million compared to $15.7 million and diluted earnings per share were flat at 56 cents from the same quarter last year.

L Brands Inc (LB), the specialty retailer reported net sales in the second-quarter ending on August 1 jumped 3% to $2.77 billion from a year ago period.

Same store sales in the quarter advanced 4%.

Net income in the quarter surged 7.5% to $202.48 million or 68 cents per diluted share compared to $188.36 million or 63 cents from the same quarter last year.

The retailer forecasted earnings per share for the third-quarter between 40 cents and 45 cents.

For the year, the company lifted full-year earnings per share estimate in the rage of $3.58 to $3.73 compared to previous guidance of $3.50 to $3.70.

The Madison Square Garden Co (MSG), the sports, entertainment and media company said revenues in the fourth-quarter ending in June rose 4% to $387.9 billion from a year ago period.

Net income in the quarter soared 294% to $45.7 million or 60 cents per diluted share compared to $11.6 million or 15 cents from the same quarter last year.

Stage Stores Inc (SSI), the apparel and accessories retailer stated sales in the second-quarter ending on August 1 rose 0.9% to $380.9 million from a year ago period.

Same store sales in the quarter gained 0.8%.

Net income in the quarter plunged 85.7% to $1.6 million or 5 cents per diluted share compared to $11.2 million or 35 cents from the same quarter last year.

The company lowered diluted earnings per share estimate for the third-quarter between $1.05 and $1.15 compared to previous guidance of $1.20 to $1.28 and comparable sales estimated to flat from previous guidance range of flat to 2%.

Sears Holdings Corp (SHLD), the specialty retailer reported revenues in the second-quarter ending on August 1 plunged 22.5% to $6.21 billion from a year ago period.

Kmart and Sears domestic same store sales in the quarter declined 7.3% and 14% respectively.

Net in the quarter swung to profit $208 million or $1.84 per diluted share compared to a loss of $573 million or $5.39 from the same quarter last year.

As of August 1, the company had cash balance of $1.8 billion and no revolver borrowings and letters of credit outstanding of about $657 million.

Toro Co (TTC), turf and agricultural machinery maker said revenues in the third-quarter ending in July advanced 7.4% to $609.6 billion from a year ago period.

Net income in the quarter jumped 6.6% to $53.3 million or 94 cents per diluted share compared to $50 million or 87 cents from the same quarter last year.

Tech Data Corp (TECD), the technology products distributor reported revenues in the second-quarter ending in July slumped 3.8% to $6.58 billion from a year ago period.

Net income in the quarter soared 94.4% to $76.4 million or $2.09 per diluted share compared to $39.3 million or $1.03 from 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